Skip to main content

Punch Associates: Credit Card Debt Consolidation


Credit card debt consolidation is something many of us will have done at least once or considered doing. The immediate advantage is to save money on interest rates by moving balances on to a loan which will charge a fixed rate of interest with fixed repayments.


The wise move to make then is to cut up your cards and then just pay off the loan. So how many people actually do that? Having a clear credit card in your wallet is too tempting a thing to have now you are under the illusion of it being clear. Typically we’ll hang on to it ‘just in case of emergency’.

Then a few months down the line we find it maxed out again, we’re back where we were making the loan repayments and card payments with their high rates of interest again.

The credit card debt consolidation cycle can repeat itself a few times before the consumer realises what they are doing,- by which time their overall debt has plunged so far into the red that it’s a serious problem.

In the worst cases payments will have been missed or made late so obtaining loans from established lenders will not be an option leaving debt management, bankruptcy or bad credit loans as the only options.

This scenario – sometimes referred to as ‘the middle class trap’ is so commonplace that the question arises – “Why do the lenders allow it to happen?” Recent reports have shown that some lenders are in fact very actively and aggressively engineering their customers to get into situations like this.

Credit card debt consolidation is a very profitable line of business, not only for the high street banks but also for the independent lenders, bad credit loan companies and debt management companies.

When someone has their credit card limit extended, or gets upgraded to a higher grade of card they feel special. They feel like they’ve been accepted into an upper echelon now that their ‘financial status’ has been upgraded. They are made to feel that all of a sudden they can afford to spend more because they have more credit at their disposal.

All the while the lenders know exactly how much they have to spend, how much they earn, how much their outgoings are and exactly how far they can be stretched.

Credit card debt consolidation is best done onto another card with a period of 0% APR giving you the chance to pay off the premium amount and not interest. Of course you will have to exercise extreme discipline to avoid the middle class trap if you are to be successful. The alternatives to forming your own debt busting plan will only cost you a lot more in the long run and keep you in debt for longer than you need to be.

The most effective and self serving way to do it is to have Punch Associates do it for you to have a debt busting plan which does not involve paying fees or interest on top of your overall debt amount. There are a lot of people out there preying on those in need of credit card debt consolidation – and the Punch Associates are here and ready to help you!



Comments

Popular posts from this blog

Kanser 2018, the latest take on Noli Me Tangere.

One iconic Philippine theatre experience is Kanser, the stage version of Noli Me Tangere that is written by our National Hero, Dr. Jose Rizal. There are many versions of this play by different theater groups, from musical to straight play. Gantimpala Theater Foundation made it as their own biggest production for so many years, it keep changing and upgrading in many aspects, from color feel, to music ambiance and of course the magnificent cast that is challenge to portray iconic characters onstage. Kanser 2018 proves to adopt the needful in terms of stage show, a showcase of photos and some graphics is on the projector during the performances, some new twist in some remarkable scenes is implemented, like the slapping scene of Maria Clara and Padre Salvi which the audience find it humorous. But the kissing scenes of Crisostomo and Maria Clara is always the favorite mostly by the students, they feel the “kilig” somehow.
Award winning Director, Actor and Model Frannie Zamora is once agai…

More horror in Sindak 1941. Theater Review.

Philippine Stagers Foundation, Inc is identified in producing grand spectacle theater play that is base on history that shapes our nation, mostly watch by different schools, State Colleges and Universities throughout the Philippines, their latest production, Sindak 1941 is an added laurel to their growing list of hits. In Sindak 1941, is the newly enhance and complete story of their previous play entitled “Filipinas 1941”, a story of two brothers trying to earn a living in a time there is no God, a time the Japanese occupy The Philippines with no mercy. Sindak or scary stand to its title, it did show a lot of scary and miserable things experience by Filipino in the arms of the Japanese military, the unforgettable Bataan Death March, the comfort women issues and mass killing, and the so-called hero of World War II, Gen. Douglas MacArthur. The play is so brave in pointing out some wrong notion, in correcting some historical facts that its writer and director, Vince Tanada is standing o…

The fun love in Momol Nights. Movie Review

Romantic Movie in Filipino setting takes another leap in Momol Nights, an iWant movie original streaming free online. The movie stars promising actress Kim Molina and Kit Thompson under the direction of Benedict Mique, Jr.
Having Molina in the cast you can expect a great comedy acting, from stage to TV series to Movies, Molina proves she can handle well in delivering all needed for a character that need to be seen and felt by the audience. And that’s the very reason I watch Momol nights, because that’s how I adore this promising actress that I’ve seen first in a theater production of “Kung Paano Ako Naging Leading lady.”
In Momol Nights which is acronym for Make out, Make Out Lang style of dating that usually involve lust or sex and nothing else, the movie is centered on Molina’s to die for searching for a man of her dreams, and achieving that is taking an option of One Night Stand only to give in her desire of finding Mr. Right. However, it was the other way around as she expects m…