Store card debt and debt management
If you have store card debt that you cannot manage in these hard times it may be the right moment to see if you can deal with it via debt management. Store card debt is a very expensive way to take on credit to pay for goods. Store cards are very often pushed in store as a way of generating sales commission for staff. These store cards are often made to look enticing by combining the taking of the store card with a “free gift” or discount. In reality unless you clear the store card of the credit put on it at once you will end up paying interest on your purchases in excess of 30%.
Here at Help With Debt we take calls from some of the people who hold the estimated 2 million store cards. They are often struggling to meet the monthly commitments on these cards, due to the high interest rates charged.
One of our solutions to this type of debt is debt management. This is a simple and effective method for combining all your debt from store cards and credit cards and loans, and then paying one simple monthly payment via a debt management company to all your creditors.
The advantages of debt management are:
You only pay what you can afford from your disposable income
You only make one payment each month not a number
All chasing calls will eventually cease
Interest and charges can be stopped
You will only clear the existing balance meaning the debt reduces
You can change your payments to reflect your disposable income
You can start and stop to suit you
You are not tied into arrangements for 60 months
You do not have to go bankrupt
Your house and car are not at risk
Store card debt can be useful for one off purchases, where you can then clear the debt at the end of the interest free period. If however you have run up debt and not paid off the balances and you cannot now do so, consider the debt management option as a viable way to deal with your debt problem.
About the Author:
Contact Steve Thatcher of Help With Debt (UK) Limited a total debt solutions company.
For all further reading see http://www.helpwithdebtuk.com
For personal contact email sthatcher@helpwithdebtuk.com
If you have any debt problem whatsover either personal or corporate make Steve your first call all advice is free. Finally if in the UK and you need a friend to speak to call 01162171406
