How a Lower Monthly Payment Can Transform Your Finances

By Aaron Sarentino Reviewed by Minh Tong Updated Mar 11, 2022
How a Lower Monthly Payment Can Transform Your Finances

Spring of 2021 saw household debt in the U.S. reach a record $14.6 trillion. Today, Americans are still working hard to secure financial freedom for themselves and their families. 

Many are struggling with high minimum monthly credit card payments, where much of the money paid goes toward interest balances rather than paying down the principal amount owed on each card. 

As a result, people feel stuck in the “hamster wheel” of credit card debt; they can’t save to pay down their credit card balances because their money is going toward staying afloat on minimum monthly payments, but these minimum payments barely make a dent in their credit card debt. This vicious cycle keeps hardworking American families in debt for years – often decades – while benefiting the credit card companies. 

What Can You Do To Break The Cycle?  

Debt settlement is one of the most powerful tools out there to regain control over your finances and resolve debt:

  • It is a negotiated settlement with creditors where an arrangement is made to repay a certain amount of the debt. 
  • You save a specified amount every month that goes toward paying down your debt – rather than making minimum monthly credit card payments that keep you on the hamster wheel.
  • In exchange, the rest of your debt is forgiven. 

Lower monthly “payments” (the smaller amounts that you save every month) can help you establish a healthier cash flow and overall financial balance. You can start to get back on track toward your financial goals, such as: 

  • Saving for retirement
  • Saving for home improvement projects 
  • Shoring up an emergency fund
  • Establishing a college fund
  • Taking a vacation with your loved ones

How Does Debt Settlement Put The Power Back In Your Hands? 

When creditors receive minimum payments from you month after month, they know that they can keep tapping into your earnings. They are not likely to be sympathetic and take it easy on you, even during difficult life circumstances such as a divorce or medical event. 

When someone decides to pursue debt settlement, however, collectors often realize that agreeing to terms from skillful negotiators (like our Negotiations team at Americor) is their best chance to collect. That is why adequate debt settlement can put the power back in your hands.

Additionally, debt settlement is a great alternative to bankruptcy – which can stay on your credit report for ten years

Getting Out Of Debt Is Possible

You don’t have to live with the vicious credit card cycle. You may be able to repay your debt faster, save more money, and stop the endless collector calls and the anxiety of debt. 

Our highly skilled team at Americor specializes in negotiating with creditors on our clients’ behalf, so they can focus on the things that matter most. We have settled more than $2 billion in credit card debt for thousands of clients.  

Contact us today to see if we can help you, too! 

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Aaron Sarentino

Aaron oversees executive, administrative and management functions for the firm. Aaron has a Bachelors in Business Administration from Pepperdine University. He is responsible for helping customers at every stage of the debt settlement process and focused on building loyalty to ensure long-term client retention by addressing customer issues. Aaron plays a pivotal role in the upliftment of the Americor team to ensure the best possible customer experience for clients.