Understanding The Impact Of Debt

JAN 08, 2014

Brad Stroh, Founder, CEO Bills.com

Jan 08, 2014

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Understanding The Impact Of Debt

Brad Stroh, CEO of Bills.com, discusses the impact of debt and how to lower your credit card interest rates and payments. One of the best ways to find money help is to use the many tools on Bills.com like our My Savings Machine which breaks down simple ways to save money daily on every day purchases and activities. We also provide many Debt Relief options, simply by filling out a form to receive a free no obligation quote. 

Video Transcription;

"Debt is impacting millions of Americans in ways it never has before. Debt problems are really plaguing our society from the US government all the way down to the individual family.  Millions of Americans are really struggling with serious debt problems today.

I typically start with non financial factors. Is it causing you emotional stress or a burden on relationships? Money problems can be the number one cause of divorce and suicide in America. So it’s important that you look at it and feel are there emotional factors that are impacting you. Beyond that some simple things like do you have too much credit card debt? Can you not afford your monthly payments? Are you behind or are you really struggling financially?

If you determine you’ve got a problem the primary option start with just pay your bills but start with the highest interest rate. Pay that card off until you pay off all your credit cards off in order. Then look for a consolidation loan or refinance your mortgage and see if you can lower your rates and your monthly payments. And then if you are really struggling with monthly payment, look at credit counseling which lowers your interest rate and payment or more aggressive forms like debt settlement, where you negotiate your debts or even bankruptcy if you can’t afford anything.

Whenever you look for money help or want to solve a complicated financial decision, you should come to Bills.com. You can ask a question for free and get a great answer. You can use our calculators or tools or tips or resources or just shop around for the best rates, lenders and debt providers and loan products for your needs."  

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