7 Benefits of Life After Debt

Written By Naazma Garcia
Apr 4, 2022


It’s easy to keep kicking the can down the road when it comes to paying off your debt. Soon the interest starts adding up, making your debt even more unmanageable, until you trip into a debt spiral. That’s why it’s so important to find motivation by reminding yourself of the benefits of eliminating debt. In case you need a refresher, here are seven benefits of life after debt. 

1. Free Yourself from Creditors

Creditors maintain a certain amount of control over their borrowers. They decide when and how you pay them, and can even increase your interest rates. Being debt free allows you to take back control of your financial life. Your creditors will have no reason to harass you. That means no more creditor calls, no more late payment fees, and no more interest. 

2. Earlier Retirement

Every penny you’re spending on paying down your ballooning debt is a penny you can’t use to save for retirement. Consider that the penny saved for retirement will increase in value over time if invested wisely in a tax advantaged retirement account. The earlier you pay off your debt and start saving, the more you will reap the benefits of compound interest in retirement. 

3. Guilt-Free Spending

When you’re in a debt spiral, you often don’t have cash, meaning you have to go deeper into debt just to pay for essential items and bills. When you end the cycle by paying off your debts, you can check out at the grocery store without feeling guilty. 

4. Less Bills

You won’t have to worry about making monthly payments and late fees on multiple credit cards when you no longer owe your creditors. That means you can focus on paying for bills like insurance and utilities, while budgeting for savings. 

5. Better Credit Score

Having a high credit utilization score and being late on payments will kill your credit score. A poor credit score can hinder your ability to rent an apartment, get a job, or finance a car. Paying off your debt is the first step to healing your credit score. 

6. Ownership

If you’re paying a mortgage, then the bank owns your home. If you’re paying an auto loan, your lender owns your car. When you pay off your secured debts, you no longer have to worry about the bank foreclosing on your house or getting your car repossessed because you truly own your assets. 

7. Increase Future Earnings

Every time you charge your credit card you are borrowing from your future income. That $200 pair of sunglasses you buy now, is $200 out of your paycheck next month. Debt lowers your future standard of living by spending your future earnings today. Paying off your debt allows you to make the most of your income. 

Start Eliminating Your Debt Today

You can start enjoying the benefits of life after debt by getting in touch with a trusted consumer credit and debt relief solution company like Americor

Contact a certified debt consultant today to receive a free debt analysis. Learn more: what is a home equity loan.

Click here to apply: https://apply.americor.com/new  

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About Americor

Americor provides debt solutions to thousands individuals and families all over the country. We’re a next-generation debt relief company with a proprietary platform designed to help clients get out of debt quickly. Together we’ll develop a strategy for you to enjoy a debt free lifestyle. Learn more about how Americor can help relieve the burdens of debt today.

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Address:
18200 Von Karman Ave, 6th Floor Irvine, CA 92612
New Clients:
[email protected]
Existing clients:
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Phone:
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We provide debt resolution services. Our clients who make all monthly program payments save approximately 40 – 50% of their enrolled debt (average of 43%) upon successful program completion, before program fees. Fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25% of your enrolled debt. Programs range from 20-48 months. Clients must save at least 25% of each debt due to an enrolled creditor before a bona fide settlement offer will be made. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. Some programs may be offered through The Law Firm of Higbee & Associates d/b/a Advantage Law. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Clients may withdraw from the program at any time without penalty and receive all funds from their dedicated account, other than funds earned by the company or fees paid to third-party service providers, as may be applicable. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Americor conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes.

Americor Funding, LLC (18200 Von Karman Ave, 6th Floor Irvine, CA 92612) is fully accredited by the Better Business Bureau (BBB), the American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA). CA Department of Financial Protection and Innovation (DFPI) License # 603K913.

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