Understanding Debt: The Impact and Options for Consumers

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Understanding Debt: The Impact of Debt and Debt Options for Consumers. Bills.com video featuring Brad Stroh, Bills.com CEO. This video helps consumers evaluate and compare Debt Consolidation and all Debt Relief Options.

Understanding Debt: The impact of debt and debt options for consumers. In this video featuring Bills.com CEO Brad Stroh, we explore the root causes and consequences of debt and how it may alter a consumer’s life. Emotional stress, financial hardships, and budgeting choices are some of the main factors that can lead to large debt amounts.  For more information on Debt Consolidation and to review all of your Debt Relief Options.

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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