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You know what the “Death of 1000 cuts” is right? It is an old form of Chinese torture where they would put various tiny cuts all over a person’s body so they would bleed a slow death from all of the little cuts. Obviously this method of dying is horrible.

This is exactly what happens to you when you find yourself deep in credit card debt. The only difference is that you won’t actually die from it. You personally won’t die, but your money is bleeding out of your paycheck  from all over. Credit card debt is seemingly painless.

Think about when you get your credit card statement in the mail.  Chances are you’ll take a quick glance at it and yes it tells you a particular percentage interest rate. You don’t think much about it. The credit card company surely doesn’t want you to see simply how much that certain rate is. So you go along paying around the minimum on the balance. You don’t realize that the interest rate is slowly bleeding you out financially.

Let us take an easy example. Say for instance you have a credit card with $2,050 dollars on it and your minimum payment is $50 so you pay $50 and it thus leaves you with a balance of $2,000. Now, the credit card has a 15% rate of interest and with this interest rate, you are growing in debt faster than you are getting out of it. The 15% of $2,000 is equivalent to $300 and this $300 dollars will surely be taken away from you.

Here’s where the Death of 1000 cuts comes into play. Well, you don’t physically see the $300 dollar coming out of your wallet and you don’t feel it. But, you are bleeding money and don’t realize it. (Note: This is often why experts advise that if you’re trying to save money, only pay in cash, that way when the money is gone, you surely know it is gone.)

The credit card debt Death of 1000 cuts hit homeowners pretty hard and that includes me. I was actually eating lunch with a decent friend of mine but we hadn’t really ever talked about money before yet he knew I did debt settlement for a living. He was asking me about how our debt settlement program worked. I explained to him about our debt relief program and then I asked him the real question. How much credit card debt do you have? He told me $40,000. Now I know people with more credit card debt then this. So if you say his average rate of interest is 10% then that is $4,000 a year! They are actually higher!

Actually this isn’t the part that got to me. The part that got to me was that a week later went to lunch at our usual spot and this time my friend wanted to show me his new car. I just couldn’t believe it. Well I am not suggesting not having a car, but he clearly did not see just how much rate of interest was eating him. With all honesty, his credit card debt was bleeding him but he didn’t feel it enough to realize that making car payments was only adding to his problem.

Credit card debt settlement from Indiana debt relief and Virginia debt relief is a great option to stop the bleeding money from your wallet. Sure, your credit is going to take a small hit in the short run. However, you got yourself into the credit card mess in the first place. With credit card debt settlement from Indiana debt relief you get to stop paying high interest and come to a settlement with your debt that has been bleeding for a long while. Stop the financial death of 1000 cuts, contact us about your debt relief options.

You know what the “Death of 1000 cuts” is right? It is an old form of Chinese torture where they would put various tiny cuts all over a person’s body so they would bleed a slow death from all of the little cuts. Obviously this method of dying is horrible.

This is exactly what happens to you when you find yourself deep in credit card debt. The only difference is that you won’t actually die from it. You personally won’t die, but your money is bleeding out of your paycheck  from all over. Credit card debt is seemingly painless.

Think about when you get your credit card statement in the mail.  Chances are you’ll take a quick glance at it and yes it tells you a particular percentage interest rate. You don’t think much about it. The credit card company surely doesn’t want you to see simply how much that certain rate is. So you go along paying around the minimum on the balance. You don’t realize that the interest rate is slowly bleeding you out financially.

Let us take an easy example. Say for instance you have a credit card with $2,050 dollars on it and your minimum payment is $50 so you pay $50 and it thus leaves you with a balance of $2,000. Now, the credit card has a 15% rate of interest and with this interest rate, you are growing in debt faster than you are getting out of it. The 15% of $2,000 is equivalent to $300 and this $300 dollars will surely be taken away from you.

Here’s where the Death of 1000 cuts comes into play. Well, you don’t physically see the $300 dollar coming out of your wallet and you don’t feel it. But, you are bleeding money and don’t realize it. (Note: This is often why experts advise that if you’re trying to save money, only pay in cash, that way when the money is gone, you surely know it is gone.)

The credit card debt Death of 1000 cuts hit homeowners pretty hard and that includes me. I was actually eating lunch with a decent friend of mine but we hadn’t really ever talked about money before yet he knew I did debt settlement for a living. He was asking me about how our debt settlement program worked. I explained to him about our debt relief program and then I asked him the real question. How much credit card debt do you have? He told me $40,000. Now I know people with more credit card debt then this. So if you say his average rate of interest is 10% then that is $4,000 a year! They are actually higher!

Actually this isn’t the part that got to me. The part that got to me was that a week later went to lunch at our usual spot and this time my friend wanted to show me his new car. I just couldn’t believe it. Well I am not suggesting not having a car, but he clearly did not see just how much rate of interest was eating him. With all honesty, his credit card debt was bleeding him but he didn’t feel it enough to realize that making car payments was only adding to his problem.

Credit card debt settlement from Indiana debt relief and Virginia debt relief is a great option to stop the bleeding money from your wallet. Sure, your credit is going to take a small hit in the short run. However, you got yourself into the credit card mess in the first place. With credit card debt settlement from Indiana debt relief you get to stop paying high interest and come to a settlement with your debt that has been bleeding for a long while. Stop the financial death of 1000 cuts, contact us about your debt relief options.