Some Debt Reduction Programs Don’t Really Reduce Debt At All!

Most debt reduction programs don’t perform as advertised which is precisely why the average failure rate hovers around 75%. One of the biggest reasons for failure is the lack of progress—in fact, many are actually more in debt at the end of the first year than when they started!

Between the set-up fees, monthly fees, maintenance fees, and transaction fees—there is often little left over to actually pay down your debt. Plus, don’t forget about all the interest charges being assessed each month on that debt! Let’s take a closer look at one of the most popular debt reduction programs—debt settlement—and see why it fails to deliver on true debt relief.

Debt Settlement

Also known as 3rd party debt negotiation, debt settlement is truly one of the most stressful programs out there. Debt settlement companies lure desperate people in with a very tempting claim: Negotiate away 40-60% of your debt! Sounds great, right? But here is what they don’t tell you:

1. Destroys Your Credit Score: Some creditors may be willing to agree to reduce your total debt by 40%--but they want the entire balance in one lump sum! To save up the money to make these lump sum payments, debt settlement companies advise you to simply stop paying the bills you intend to settle with. You then become delinquent and are reported to the credit agencies by everyone you owe—totally destroying your credit score for years to come!

2. May Be Illegal: Many states have made debt settlement companies illegal. A growing number of companies are now refusing to negotiate with anyone other than the original debtor.
   

3. Progress is Too Slow: It can take months to save up the money necessary to reach a successful debt settlement with a creditor. The larger your outstanding balances, the longer it will take to raise the money—and the interest charges, late fees, and over limit fees are making the debt grow faster than ever!

4. Savings Less Than Advertised: Sure, a debt settlement company may negotiate away 40% of a $8,000 balance for a “total savings” of $3200 and a final payment of $4800—but what were the real savings?
   

   You will be assessed a 25% or higher settlement fee on your total savings (in this example, $800). Plus, the original debt was $7,000—not the $8,000 it ended up being because of late fees and over limit fees and interest charges you accrued thanks to the “debt settlement system”. So if the final settlement amount was $4800 and the original debt was $7,000—you only saved $2200! This does not include any of the other fees assessed nor take into account the damage to your credit score!
   

5. Probably Get Sued: That’s right: Every creditor has the right to litigation when you don’t pay! Many people using debt settlement programs are surprised when a summons appears on their front door for non-payment!

Debt settlement is NOT the solution most assume when they sign-up which is why the failure rate is so high!

The Money Merge Account™ System: A 21st Century Debt Reduction Program!

The Money Merge Account program is a revolutionary debt reduction tool that employs sophisticated software designed to do one thing and one thing only: Map out the quickest route out of your debt—all of it. The software uses several algorithms and millions of lines of code that will examine every characteristic of each and every debt, including:

1. Current Balance
2. Length of Debt
3. Interest Rate
4. Adjustable Rates
5. Cash Back Rewards

Then, the program will prompt you to make specific payment amounts at specific times for each debt—for maximum interest cancellation. What this means is that more of your payments will be applied towards the principle debt instead of just paying interest charges—to get you out of debt faster without going deeper into debt or increasing income!

The program will also show you when to transfer funds between your checking and savings accounts for maximum interest accumulation—so you make the most out of your savings!

The Money Merge Account system is truly the ultimate debt reduction tool for the 21st century and all you need to get started are: a checking account, a savings account and the Money Merge Account debt elimination software.

The Money Merge Account system is truly a 21st century debt reduction program—that actually works as advertised!

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