The Truth About Credit Cards
Minimum Payments
The Current Path
Below is the number of years to pay off a credit card balance based on 19% interest and a minimum monthly of 2.1% of the outstanding balance. Usually credit cards require a minimum monthly payment between 2.0% and 2.5% of the outstanding balance.
Source: CNN Money
Debt Amount Pay Back
(Including Principal & Interest) How Long Will It Take
Debt Amount $20,000
Pay Back (Including Principal & Interest) $55,370.41 !!!!!!!!!!!!!!!!!!!!!
How Long Will It Take 53 YEARS 3 MONTHS !!!!!!!!!!!!!!
FIND OUT MORE INFORMATION - CLICK HERE http://cambridgels.ca/Truth.aspx or Call Cambridge Life Solutions Canada for a free no risk consultation at 877 473 8008
Wednesday, July 13, 2011
Tuesday, July 12, 2011
Cambridge Life Solutions Claims Check Out | Review - Canada
Cambridge Life Solutions Canada - Proven Results - Actual Settlement Offers
Credit card and collection companies may make claims that they do not work with Cambridge Life Solutions Canada. Even most of our competitors that offer other financial hardship programs such as credit counselling or debt consolidation want to discredit the debt negotiation program and the services Cambridge Life Solutions Canada offers.
Here is the reality, for those Canadians struggling to make minimum payments month after month or for those who are not able to make a minimum payment at all, their debt has a strong possibility of outliving them. Unfortunately, some credit card and collection companies will target those Canadians who owe thousands in debt and have high daily compounding interest rates of 19%, 20%, 25%, or even 32%, and use fear, intimidation, and, sometimes lies to keep their customers on the same path they have always been on, which only leads to stress and a life destined for indebtedness.
At this point, you are probably wondering why credit card companies, collection companies, and competitors would use these tactics. The answer is simple. Paying your minimum payments makes the credit card companies a lot of money, but so do Credit Counselling and Debt Consolidation programs because you still pay a daily compounding interest rate!
Don't take our word for it, let us put our money where our mouth is and support our claims with the following examples.
Example A: Making Minimum Payments
John has a balance of $20,000 that he owes on his credit card. His credit card company charges him a 19% daily compounding interest rate. Making just the minimum payment, he will have to pay $516.67 each month.
At this rate, paying only the minimum payments it will take John 34.42 YEARS to pay back over $51,072.75 in interest and principal!
Example B: Credit Counselling or Debt Consolidation Loans
John decides to work with a credit counseling or debt consolidation company. They contact his creditor and are able to decrease his interest rate from 19% to 7%.
John is very excited about this, except after doing the calculation he realizes that even at a 7% interest rate it is still going to take him over 5 Years to pay back more than 25,018.27 in interest and principal.
Example C: Cambridge Life Solutions Canada Debt Negotiation Program
John enrolls his account with a balance of $20,000 into the Cambridge Life Solutions Canada debt negotiation program. Cambridge Life Solutions is able to negotiate a settlement offer with his creditor based on his budgetary analysis and financial hardship. John approves the settlement offer and accepts because he only has to pay back $13,000 which not only includes the settlement amount paid to the creditor, but also any fees associated with our service. Oh, and he was able to pay off this debt in less than 2 Years!
John saves over $7,000 in just the principal. NONE of the programs above can save you on the principal of what you owe!!!
Compared to Example A, John saves over $38,072.75 in principal and interest and doesn’t have to stress for the next 32 YEARS about how to pay off the debt.
Compared to Example B, John saves over $12,018.27 in principal and interest and eliminates his debt 2 YEARS sooner than other programs.
If you’re still not convinced the Cambridge Life Solutions debt negotiation program may help you eliminate your debt, then click the link below to see Actual Settlements received on behalf of our Cambridge Life Solutions Canada clients.
http://cambridgels.ca/Settlements.aspx
Credit card and collection companies may make claims that they do not work with Cambridge Life Solutions Canada. Even most of our competitors that offer other financial hardship programs such as credit counselling or debt consolidation want to discredit the debt negotiation program and the services Cambridge Life Solutions Canada offers.
Here is the reality, for those Canadians struggling to make minimum payments month after month or for those who are not able to make a minimum payment at all, their debt has a strong possibility of outliving them. Unfortunately, some credit card and collection companies will target those Canadians who owe thousands in debt and have high daily compounding interest rates of 19%, 20%, 25%, or even 32%, and use fear, intimidation, and, sometimes lies to keep their customers on the same path they have always been on, which only leads to stress and a life destined for indebtedness.
At this point, you are probably wondering why credit card companies, collection companies, and competitors would use these tactics. The answer is simple. Paying your minimum payments makes the credit card companies a lot of money, but so do Credit Counselling and Debt Consolidation programs because you still pay a daily compounding interest rate!
Don't take our word for it, let us put our money where our mouth is and support our claims with the following examples.
Example A: Making Minimum Payments
John has a balance of $20,000 that he owes on his credit card. His credit card company charges him a 19% daily compounding interest rate. Making just the minimum payment, he will have to pay $516.67 each month.
At this rate, paying only the minimum payments it will take John 34.42 YEARS to pay back over $51,072.75 in interest and principal!
Example B: Credit Counselling or Debt Consolidation Loans
John decides to work with a credit counseling or debt consolidation company. They contact his creditor and are able to decrease his interest rate from 19% to 7%.
John is very excited about this, except after doing the calculation he realizes that even at a 7% interest rate it is still going to take him over 5 Years to pay back more than 25,018.27 in interest and principal.
Example C: Cambridge Life Solutions Canada Debt Negotiation Program
John enrolls his account with a balance of $20,000 into the Cambridge Life Solutions Canada debt negotiation program. Cambridge Life Solutions is able to negotiate a settlement offer with his creditor based on his budgetary analysis and financial hardship. John approves the settlement offer and accepts because he only has to pay back $13,000 which not only includes the settlement amount paid to the creditor, but also any fees associated with our service. Oh, and he was able to pay off this debt in less than 2 Years!
John saves over $7,000 in just the principal. NONE of the programs above can save you on the principal of what you owe!!!
Compared to Example A, John saves over $38,072.75 in principal and interest and doesn’t have to stress for the next 32 YEARS about how to pay off the debt.
Compared to Example B, John saves over $12,018.27 in principal and interest and eliminates his debt 2 YEARS sooner than other programs.
If you’re still not convinced the Cambridge Life Solutions debt negotiation program may help you eliminate your debt, then click the link below to see Actual Settlements received on behalf of our Cambridge Life Solutions Canada clients.
http://cambridgels.ca/Settlements.aspx
Cambridge Life Solutions Canada Announcement
Cambridge Life Solutions Canada is proud to announce we currently are enrolling clients in: British Columbia, New Brunswick, Saskatchewan, Ontario, Quebec & Prince Edward Island.
We are pleased to announce Cambridge Life Solutions Canada is offering debt negotiation services.
By providing debt negotiation services in the above provinces, Cambridge Life Solutions Canada offers an opportunity for residents to achieve a debt free lifestyle. Cambridge Life Solutions Canada makes it simple for Canadians to speak with a debt consultant and receive a customized debt program they can easily follow.
Cambridge Life Solutions Canada understands this is a difficult time for Canadian residents. Many are consumed with over $25,000 in credit card debt alone and it’s on the rise. “TransUnion said average total debt per Canadian consumer, excluding mortgages, was $25,709 in the fourth quarter of 2010 -- up 5.6 per cent from $24,346 in the comparable period of 2009.” Cambridge Life Solutions Canada reveals its mission is to “educate Canada about credit card debt and make solutions available to help relieve the stress affecting so many Canadian families.” Cambridge Life Solutions Canada has worked hard to create a program that empower clients to eliminate their debt and rebuild a strong financial future.
Cambridge Life Solutions Ontario is proud to donate to the following charities: Daily Bread Food Bank, Hope Air, Ryan's Well, Sleeping Children Around the World, United Way of Kitchener-Waterloo, Multiple Sclerosis Society of Canada, and Bridges of Hope. We hope those that have been blessed by Cambridge Life Solutions would also consider donating either their time or money to these amazing organizations making an incredible difference.
Cambridge Life Solutions British Columbia welcomes you to visit the "Actual Settlement" section of our website to view settlements achieved on behalf of our clients. Cambridge Life Solutions Saskatchewan invites you to visit the "Better Business Bureau (BBB)" section of our website to view our business rating and "0" complaint track record. Cambridge Life Solutions Quebec welcomes you to visit our "Client Reviews" section to find Cambridge Life Solution Reviews made by our customers. Cambridge Life Solutions Prince Edward Island invites you to explore our "education centre" to see the various debt options an individual might have available in order to become debt free.
Residents of these provinces are welcome to contact Cambridge Life Solutions Canada at 877.473.8008 at any time to begin to process of eliminating their debt. Calling Cambridge Life Solutions Canada may be very first step towards achieving financial freedom. The call is free, there is no risk and/or obligation to talk to a debt consultant.
Cambridge Life Solutions Canada is dedicated to assisting clients with eliminating their debt.
We are pleased to announce Cambridge Life Solutions Canada is offering debt negotiation services.
By providing debt negotiation services in the above provinces, Cambridge Life Solutions Canada offers an opportunity for residents to achieve a debt free lifestyle. Cambridge Life Solutions Canada makes it simple for Canadians to speak with a debt consultant and receive a customized debt program they can easily follow.
Cambridge Life Solutions Canada understands this is a difficult time for Canadian residents. Many are consumed with over $25,000 in credit card debt alone and it’s on the rise. “TransUnion said average total debt per Canadian consumer, excluding mortgages, was $25,709 in the fourth quarter of 2010 -- up 5.6 per cent from $24,346 in the comparable period of 2009.” Cambridge Life Solutions Canada reveals its mission is to “educate Canada about credit card debt and make solutions available to help relieve the stress affecting so many Canadian families.” Cambridge Life Solutions Canada has worked hard to create a program that empower clients to eliminate their debt and rebuild a strong financial future.
Cambridge Life Solutions Ontario is proud to donate to the following charities: Daily Bread Food Bank, Hope Air, Ryan's Well, Sleeping Children Around the World, United Way of Kitchener-Waterloo, Multiple Sclerosis Society of Canada, and Bridges of Hope. We hope those that have been blessed by Cambridge Life Solutions would also consider donating either their time or money to these amazing organizations making an incredible difference.
Cambridge Life Solutions British Columbia welcomes you to visit the "Actual Settlement" section of our website to view settlements achieved on behalf of our clients. Cambridge Life Solutions Saskatchewan invites you to visit the "Better Business Bureau (BBB)" section of our website to view our business rating and "0" complaint track record. Cambridge Life Solutions Quebec welcomes you to visit our "Client Reviews" section to find Cambridge Life Solution Reviews made by our customers. Cambridge Life Solutions Prince Edward Island invites you to explore our "education centre" to see the various debt options an individual might have available in order to become debt free.
Residents of these provinces are welcome to contact Cambridge Life Solutions Canada at 877.473.8008 at any time to begin to process of eliminating their debt. Calling Cambridge Life Solutions Canada may be very first step towards achieving financial freedom. The call is free, there is no risk and/or obligation to talk to a debt consultant.
Cambridge Life Solutions Canada is dedicated to assisting clients with eliminating their debt.
Tuesday, July 5, 2011
Debt and Family Type in Canada
What a great article that outlines the trends between debt and family type in Canada. Click the link below to read the full article. Here are the highlights:
- Debt-to-Asset Ratio increased to its highest point in 35 years in 2009
- Canadians in lone-parent families are more likely to have high debt-to-asset ratios
- Financial insecurity related to debt decreases with higher income
- Canadian-born had lower odds of high debt load than immigrants
- Debt-to-income ratio climbed more than 55 percentage points between 1990 and 2009
- Older Canadians have less debt
Friday, July 1, 2011
Happy Canada Day!!!! Enjoy and Relax this Holiday weekend!
Here are some fun facts about Canada!
- Detroit, Michigan just across the river in the US holds a Canada Day celebration. Conversely, Windsor, Ontario celebrates July 4, the US Independence Day
- We are responsible for Smarties, Crispy Crunch, and Coffee Crisp
- Baseball is Canadian - First game: June 4, 1838 - Igersoll, ON
- Lacrosse, Hockey, and Basketball are all Canadian
- Apple pie is Canadian!
- Colour television was introduced to Canada on Canada Day in 1967
- Tim Hortons is just plain better than Dunkin' Donuts (a US company)
- In the war of 1812, started by America, Canadians pushed the Americans back ... past their White House.
- Our civil war was fought in a bar - it lasted a little over an hour
- A Canadian invented Standard Time
- The Hudsons Bay Company (aka 'The Bay') is the world's oldest company
- We invented: Ski-doos, jet-ski, Velcro, Zippers, Insulin, Penicillin, Zambonies, and the telephone.
- A Canadian invented Superman.
Monday, June 13, 2011
Pushing the Limits
Eleanor Roosevelt said "Do one thing everyday that scares you." We agree and think living by this mantra is a great way to challenge yourself and continually grow. Take a second and think about the things you want in your life, but don't currently have. Take those dreams and turn them into reality by breaking down your goals into daily activities that will always move you closer to the end result. The idea is to pick a small adjustment for the week, then another and another. It can be big or small, but the goal is to make it so that it is realistically achievable. For example, if you feel you need to lose weight, your goal shouldn't be to lose 100 lbs in the next year, you should take it one week at a time. The first week decide to drink more water, then the following week eat only 1/4 of the portions you were before, then the week after that you add in exercise. This way you're not overwhelmed with trying to accomplish too much at once and feeling like you have failed just because you couldn't keep up with the demands you put on yourself.
The same goes for your debt situation. If you are really dedicated to becoming debt free. It is a process and it will take time. Doing nothing will be overwhelming and you will feel like a failure at times. Taking it week by week and making small changes will have you where you want to be in no time. You could try saving $20.00 one week by cutting out coffee stops, then try saving $50.00 the next week by cutting out coffee stops and using coupons, and so on. Before you know it, you're saving enough money to start paying off those debts and live the CamLife!
There is no better feeling than accomplishing what you have set to do. It may be a process but Cambridge Life Solutions is here to help along the way!
Friday, June 10, 2011
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