It’s harmless at first. You tap, swipe, and feel like all your money problems disappear. But when the statements come due, you stress out about making the payments on time — even if it is only the minimum. Month after month, you anxiously watch your balance climb and climb, and suddenly, you’re $20K in unsecured debt.
Well, you’re not alone. More than half of Americans struggle with consumer debt. Whether it's due to a job loss, medical expenses, or just everyday spending getting out of hand — finding a way out is crucial.
Becoming debt-free might seem like an uphill battle, but the sooner you get started, the better.
In an effort to find the best debt resolution company out there, we asked Tatum Brown — a financial specialist and mom — to weigh in about JG Wentworth.
Here’s what Tatum has to say about the basics of debt consolidation:
Do Credit Card Companies Actually Cause Credit Card Debt To Snowball So Rapidly?
Short answer: Yes. They do.
Longer answer: The interest is actually compound interest. That’s interest plus your balance, so it can become quite costly, quite quickly. Especially if all you’re doing is paying the pure minimum balance (typically about 2% of the balance). Add in credit card interest rates — currently spanning 18% to 36% with an average rate of 27.64% — and late penalty fees ranging from $25 to $50. And if you’re juggling several cards with all kinds of pay-by dates, it’s understandable how people can miss a payment or three.
In a nutshell: The revolving credit structure of credit cards and frequent credit limit increases can encourage continuous spending and a seemingly endless cycle of debt.
How Can Debt Consolidation Help A Shaky Financial Situation?
Higher-profile debt settlement companies can go to bat for their clients because they have leverage. A company like JG Wentworth has a direct line to speak with those credit card companies and negotiate a reduction. That’s thanks to their connections and solid relationships with those institutions.
Debt resolution can be a huge source of stress, especially when dealing with multiple accounts and cards. JG Wentworth requires only one program payment per month that goes into an account that you control with an insured financial institution. No fuss, no muss, no slip-ups to throw a wrench into your finances.
Customers can save an average of 50%* of their debt when they work with JG.
What Are The Benefits Of Debt Consolidation?
Benefit # 1: Financial Empowerment. Planning, budgeting, and consistent on-time payments put you in the driver’s seat. You know what your resources are and how you’re using them to better your financial health.
Benefit # 2: You’re not alone. JG Wentworth’s with you every step of the way. Their Debt Resolution Program is specifically tailored to your situation. There’s a light at the end of the tunnel — and you’re getting there!
What’s The Eligibility Criteria For A Debt Consolidation Program (Like JG Wentworth)?
Very simple: A minimum of $10K in unsecured debt, and you must be 18 years or older.
How Long Will It Take To Get Debt-Free?
Consistent on-time payments reduce your balance, but it’s a long process. The results aren’t immediate. When you partner with JG Wentworth, they tailor a debt resolution strategy that suits your unique financial situation. Your rep will create a results-oriented plan designed to get you out of debt as quickly as possible. On average, users can expect to be debt-free within 24-60 months!
Rebuilding credit can take time, but it’s definitely worth it. I always tell my kids that your credit score is like your adult report card. That's essentially it: Are you a good consumer because you make your payments on time? Are you getting an A or a C-?
What About Ongoing Support?
There are two sources you can rely on.
One is you. Stay honest with yourself about your needs, and don’t fall prey to impulse. Remember that those pretty plastic cards aren’t magic. Realize that debt doesn’t happen at once — it grows one impulse buy at a time. Stick to your budget, make your payments, and you’ll reinforce good financial behaviors.
The other is a trusted resource like JG Wentworth. They provide regular status updates on your debt negotiations, which will truly help you take control of your financial future. From your initial consultation, JG Wentworth takes the time to answer questions, no matter how trivial they may seem.
They also provide a 24/7 online portal that allows you to check your progress at any point, day or night. It’s no wonder they have 8,000+ 5-star reviews and an impressive 4.8 on Trustpilot.
If you’re looking for the easiest and most affordable way to resolve your debt, JG Wentworth has the smartest solutions. Visit their website and check out their free Debt Relief Consultation and Debt Repayment Calculator.
Ready to join thousands of happy JG Wentworth customers on your journey to becoming debt-free? Go ahead, take the plunge today!
Join thousands of satisfied customers and start your journey
to becoming debt-free with JG Wentworth today!
*Program length varies depending on an individual situation. Programs are between 24 and 60 months in length. Clients who are able to stay with the program and get all their debt settled realize approximate savings of 43% before our 25% program fee. This is a Debt resolution program provided by JGW Debt Settlement, LLC (“JGW” of “Us”)). JGW offers this program in the following states: AL, AK, AZ, AR, CA, CO, FL, ID, IN, IA, KY, LA, MD, MA, MI, MS, MO, MT, NE, NM, NV, NY, NC, OK, PA, SD, TN, TX, UT, VA, DC, and WI. If a consumer residing in any other state contacts Us we may connect them with a law firm that provides debt resolution services in their state. JGW is licensed/registered to provide debt resolution services in states where licensing/registration is required.
Debt resolution program results will vary by individual situation. As such, debt resolution services are not appropriate for everyone. Not all debts are eligible for enrollment. Not all individuals who enroll complete our program for various reasons, including their ability to save sufficient funds. Savings resulting from successful negotiations may result in tax consequences, please consult with a tax professional regarding these consequences. The use of the debt settlement services and the failure to make payments to creditors: (1) Will likely adversely affect your creditworthiness (credit rating/credit score) and make it harder to obtain credit; (2) May result in your being subject to collections or being sued by creditors or debt collectors; and (3) May increase the amount of money you owe due to the accrual of fees and interest by creditors or debt collectors. Failure to pay your monthly bills in a timely manner will result in increased balances and will harm your credit rating. Not all creditors will agree to reduce principal balance, and they may pursue collection, including lawsuits. JGW’s fees are calculated based on a percentage of the debt enrolled in the program. Read and understand the program agreement prior to enrollment.
JG Wentworth does not pay or assume any debts or provide legal, financial, tax advice, or credit repair services. You should consult with independent professionals for such advice or services. Please consult with a bankruptcy attorney for information on bankruptcy.