Is it too late for debt elimination?
Are you worried that it is too late for you to put a debt elimination strategy in place? Are you afraid you’ll be working at least part time when retirement age hits and you lose your main source of income?
More on Debt Elimination / Debt Management – Is it too late to fix this?
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So why do most people fail at eliminating their debt?
In order to figure that out, we should take a look at what you need to do to actually eliminate the debt. And then ask why it doesn’t happen.
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Choosing to eliminate your mortgage is a goal every home owner has.
But when is the right time?
Consider the following and know that I am not going to tell you what you should be doing or when you want to eliminate that mortgage. Here’s why. And remember, I want to see you eliminate all of your debt. But you need to be smart about how you go about it.
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The Credit Card Crunch is not only here but growing.
According to a recent article in Reuters, nearly 500 Billion dollars in available credit card lines was reduced in the 4th quarter of 2008. And that’s just the start. Estimates are another 2 Trillion will be reduced this year with a potential 2-3 Trillion in 2010.
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I was recently asked about the difference between our debt elimination program, the Financial Compass, and using a debt settlement program or a cash out refi.
We’ll first compare our program to settlement and then to the old standby method of paying down debt involving a cash out refinance for a homeowner.
More on The difference between the Financial Compass and Debt Settlement programs.
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