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Credit Card Payments

You could be retired and still be paying credit card bills from 40 years ago. Stop the madness; call us to see how we may be able to help.

Continue To Make Minimum Credit Card Payments

Sadly, this is the choice for millions of Americans who are struggling with their debts. Most of these people keep doing whatever they can to continue making minimum payments for the rest of their lives. This is a no win situation. If you are only meeting your minimum payments, you are paying almost entirely interest charges and not paying down your debts. And if you can't keep making their minimum payments, the creditors will start calling. If you ignore their correspondence, you can end up with judgments and garnished wages as well as liens against your property.

BlueChip Debt Relief is a consumer debt reduction service that uses debt negotiation and debt settlement to dramatically reduce your debt and let you move on with your life. We customize a debt settlement program for our clients with a monthly payment that fits within your budget. This monthly amount is frequently as low as half as much as your current monthly credit card payments. After enrolling in BlueChip Debt Relief's "Fresh Start Debt Relief" program, your life becomes very simple. All you have to do is set aside this affordable amount each month into a savings account we'll set up for you that you control.

Advantages and Disadvantages

For millions of Americans, paying just the minimum monthly payment is their course of action.

Advantages:
  • If you're expecting a significant increase in income, a big tax refund, the sale of some valuable property, or a winning lottery ticket, then paying the minimums can buy you some time before you finally able to pay off the debt.
  • Preserves your positive credit history, which makes up 35% of your credit score.
Disadvantages:
  • You can lose your job or get sick, the real estate market could crash, which leaves you with only one option -- bankruptcy.
  • If you can only pay the minimums, it's probably a sign that you owe too much; amount owed accounts for 30% of your credit score.
  • It's the most expensive route by far. If you owe $30,000 in credit card debt, then it could take you 46 years and $97,662 before you're finally debt free.
  • If you're late on even one payment, then your interest rates could jump up to as high as 32%.
  • Highly stressful and unhealthy to have to worry about being able to make the minimum payment every month.