There are many reasons that people get into debt. Credit cards are a simple, fast, and convenient way to make purchases. And they are great…until you suddenly discover that you can’t pay the bills off each month. The debt seems to take on a life of its own – growing as fees and interest charges add to the monthly total.

You Are Not Alone

According to the New York Fed, consumers hold over $13.21 trillion in overall household debt. Credit card debt is the most common form of debt held by consumers, with about 43.9% of households having a credit card balance.

To compound matters, wages are stagnant, and interest rates are rising. The end result is that more and more consumers are feeling the squeeze when it comes to paying their bills.

Sound Like Your Financial Situation?

You work 40 hours per week or even two or three jobs, but your paychecks don’t get much larger. They can’t keep up with the cost of living. It is hard enough for the average American to cover all their bills and expenses, let alone support a family. More and more consumers use credit cards and personal loans to cover their deficits. When you can’t make more than the minimum credit card payments, you are now in a cycle of debt.

If this is you, we can help. Pacific Debt Relief offers debt solutions tailored to your unique situation and budget. Our certified debt counselor will help you work up a budget and explain all your debt solutions and options so you understand them.

The Minimum Payment Trap

Every month, you are required to make minimum payments to your credit cards. The problem is that most of the minimum payment goes to pay off the interest charges and fees. Only a tiny amount goes toward your debt.

Creditors charge interest to let you “use” their money. According to the CreditCards.com, the average Annual Percentage Rate (APR) on a general-purpose credit card is between 16.32% and 20.0% for “near-prime” consumers. (Near prime is someone who has decent but not excellent credit) For private label cards, like a department store or gas company, the APRs were a whopping 23.9%.

Minimum Payments WILL NOT Pay Off A Revolving Loan

Take a look at a typical scenario. You have $20,000 in credit card debt. Your annual interest rate is 20%. Each month, you make a minimum payment of $330 per month. If you never use your card again, it will take you more than 30 years to pay off your credit card debt. At that time, you will pay $100,000 in interest. Your $20,000 debt will end up costing you $120,000 over those 30 years. Basically, you will never pay off your credit card making minimum payments!

You owe $20,000 in credit card debt.

Your average interest rate is 20%.

It will take more than 30 years to repay (assume you never use the credit card again).

You will pay $100,000 in interest over that time.

Your $20,000 debt will cost $120,000 over those 30 years. Try our debt calculator and find out how much money you will spend on credit card interest, and principal. The numbers can be staggering!

People often talk about bankruptcy and how you can declare bankruptcy to get out of debt. In reality, bankruptcy is a last resort. Keep in mind these points:

• Bankruptcy can be very expensive, largely due to the legal fees
• Bankruptcy has a stigma attached to it
• Bankruptcy details are a public record
• Bankruptcy can stay on your credit report up to 10 years
• Loans after bankruptcy can be very expensive and difficult to obtain

At Pacific Debt, we only recommend bankruptcy as the last possible resort. There are several other debt-relief options to try first. These include:

• Debt Settlement – working with your creditors to agree on a lower amount to repay
• Debt Consolidation – rolling all your debt into a lump sum and paying it off entirely
• Debt Consolidation Loans – getting a loan to pay off all the debt, then repaying the loan at a better interest rate
• Credit Counseling Services – assistance with budgeting and negotiating lower interest rates

Pacific Debt, Inc. was founded in 2002 to help people overcome their consumer debt and is now a #1 nationally ranked debt relief company. We have settled over $500 million in debt for our consumers with our specialized debt relief program. Licensed in multiple national states, Pacific Debt is a national debt relief and debt settlement company, with its headquarters located in San Diego, California.

Pacific Debt has been ranked as one of the best debt settlement companies and has an A+ Accredited rating from the BBB for debt negotiation services, also known as debt settlement. Have a look at what some of our customers are saying at our Pacific Debt reviews page. They are 3rd party debt relief reviews from our debt settlements customers. If you are like others searching over and over for the terms credit card debt consolidation companies near me, or even debt consolidation near me, then stop wasting time and call us today to get started with our debt settlement program. We can help you with debt relief in San Diego California, or we can help you with our national debt relief program in over 30 states. We can help in these other states we offer our debt relief program.

Prior to 2002, consumers with debt had very limited options, generally only credit counseling, home equity loans, and bankruptcy. The advent of debt settlement gave consumers an alternative to credit counseling and bankruptcy. It also doesn’t require collateral like most debt consolidation loans. Unfortunately, the early debt consolidation companies were not well regulated and took advantage of people.

Pacific Debt was one man’s answer to unscrupulous debt consolidation companies. Pacific Debt is built on better customer service and strict adherence to quality. Everyone at Pacific Debt is dedicated to helping you get out of debt and stay out of debt. We can help you with any questions you may have concerning debt settlement, debt consolidation, or debt relief in general. Don’t hesitate to ask us anything, we are debt experts!

We work with creditors, trusted partners, and legal advisers to put all options at your fingertips. We explain the process and your choices, help with budgeting and money management skills, and work toward a positive end to your debt cycle.

The Pacific Debt program is comprehensive and one of the best out there. Once you make the decision to get out of debt, you apply through our website. 

You’ll be connected with a certified credit counselor who will go over all your debt relief options with you. 

If debt settlement is right for you, we move forward with enrolling you into our debt consolidation program and seeing how much money we can save you.

Our debt relief program is quick and painless!

Step 1 – Get enrolled through the Pacific Debt website

Step 2 – Our Client Care department will guide you and give you a clear understanding of how our debt relief program works

Step 3 – Sit back and let our professional debt negotiation team work for you and start saving you money!

As you enter the debt settlement process, your assigned certified debt relief counselor will analyze your debt, monthly expenses, and your income. They look at your current budget and determine a payment estimate that works for you.

Once enrolled, our negotiation team will work with your creditors to agree on a (usually) lesser amount of debt and a repayment schedule. You may have to stop making payments to your creditors in order to proceed with debt settlement.

Debt settlement includes unsecured debt such as medical bills, overdue utility payments, credit cards, personal loans, tax debt, payday loans, bankruptcy, and certain contracts, like gym memberships. We have trusted partners who will help you with payday loans and student loan consolidation.

To be qualified for our debt relief program, you must:

• Have more than $10,000 in unsecured debt (credit card debt, payday loans, personal loans, medical bills, collections and repossessions, business debts, and some student loans).
• Live in a state where we can do business.

We cannot help with debt from lawsuits or judgments, IRS debt, utility bills, auto or governmental loans, mortgages or home loans, or other secured debt.

If you are in debt and need to know your options on how to get out of debt, Pacific Debt can help. We have settled over $500 million in debt for our consumers since 2002.

We are nationally accredited and recognized by numerous independent consumer review companies, including the Better Business Bureau. We have helped thousands of people reduce their debt, and we can help you too! Give one of our certified debt relief counselors a call to understand your options. You can also enroll in our debt settlement program through our website.

Pacific Debt Inc is ranked as one of the best national debt consolidation and debt relief companies based in San Diego, California. Call us today to get your FREE Consultation from one of our debt experts!