Term life insurance through Banner Life can be a viable option for those who have a mortgage or other
types of debt balances.
In order to do this, you will need to make a list of all your debt payments and while you are at it, you will need also to make a
list of your debt balances so you can calculate your overall unsecured debt.
With that in mind, life insurance should be carried by any senior who has any
type of debt balance and who doesn't want to leave someone they care about with an additional financial burden when they're gone.
A credit card balance transfer may be a great idea if you believe that you can pay most or
all of the debt balance off before the introductory period expires.
When calculated over the course of a three to four - year program, it works out to an annual fee of 4 % to 8 %
of the debt balance.
All of your debt balances are lower because you were paying of them with the minimum payment during the past few months while you aggressively attacked your credit card.
I am reminded of discussion a couple of years ago about the «60/60» plan that was being proposed by some CCAs, where 60 %
of the debt balance would be paid back by the debtor over a 5 - year period (60 months).
Now let's say your friend has only $ 4,000
of debt balances, but their available credit is only $ 5,000.
With Credit Counseling, you will eventually pay back
all of the debt balances — plus interest and fees; whereas with Debt Settlement, you pay back only a portion of your debt load.
As you stay with this pattern, every time one
of your debt balances is paid, your monthly payment increases toward the next one without any additional money out of your pocket.