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Is credit card debt forgiveness easy to qualify for?
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If you have mounting credit card debt, you’re not alone. The average United States household owes some $7,951 to credit card companies. Of course, with that being the average, some borrowers will owe significantly more than that number while some borrowers owe significantly less.
But, in today’s inflationary environment, any amount of credit card debt can be challenging. After all, credit card interest rates and minimum payments are high. If you couple those high payments with the growing cost of goods, it can be difficult to make ends meet.
The good news is that a credit card debt forgiveness program may be able to help. The companies that offer these services negotiate with your credit card companies with the goal of reducing what you owe and making your debt more manageable. But, is it easy to qualify for credit card debt forgiveness?
Find out if your credit card debt can be forgiven here now.
Is credit card debt forgiveness easy to qualify for?
Credit card debt forgiveness programs are typically easy to qualify for. That is, as long as you have enough debt (at least $7,500) and you’re having a hard time paying that debt off.
“If the consumer can show that they have a high debt to income ratio and have overextended themselves, credit card companies will more likely be willing to work with them,” explains Aaron Cirksena, founder and CEO of the money management firm, MDRN Capital. “However, consumers must be careful not to take on large amounts of debt, then quickly ask for forgiveness. Companies do not look favorable upon that and will be unlikely to work with you.”
If you’re having a hard time dealing with your credit card debt, you shouldn’t hesitate to seek the relief you need. Here’s why:
Your financial hardship may get worse if you don’t act
It’s critical to seek the debt relief you need if you’re facing financial hardship. If you wait, things may only get worse. After all, persistent inflation continues to drive the cost of consumer goods and services up. That may leave fewer dollars in your budget that you can use to address your credit card debts.
In fact, as prices grow, you may be using your credit cards to pay your daily expenses. But, that may only lead to higher credit card balances and growing minimum payments, exacerbating your current financial struggles.
If you enroll in a credit card debt forgiveness program now, however, you may be able to cut your monthly payment obligations – leaving more money in your budget to cope with today’s higher cost of living.
Tap into credit card debt forgiveness to give yourself more financial breathing room today.
Persistent inflation means high rates are staying put
Interest rates are high at the moment. And, those high rates are largely the result of stubborn inflation. When inflation runs hot, the Federal Reserve typically reacts by increasing its federal funds rate – a rate that many banks use to determine the interest rates they’ll charge borrowers.
Unfortunately, we’ve seen a trend of hot inflation thus far in 2024. And the most recent inflation report (April’s report showing March data) showed the inflation rate at 3.5%. That’s nearly double the Federal Reserve’s 2% inflation target. As such, there are few signs of interest rate cuts happening anytime soon.
Higher rates may be in the future
While there aren’t many signs that interest rate cuts are on the horizon, there are some signs that interest rates may rise ahead. And, if you’re already struggling with credit card debt, higher interest rates may only add to your financial hardship by making your credit card payments grow.
Keep in mind that the Federal Reserve’s most effective weapon against inflation is its ability to raise rates. With January’s inflation rate at 3.1%, February’s at 3.2%, and March’s at 3.5%, it would be understandable for the Fed to consider rate hikes ahead to put a damper on the growing inflation rate across the country. If that happens, the cost of your credit card debt may rise if you’re not already enrolled in a debt relief program.
The bottom line
Credit card debt forgiveness is relatively easy to qualify for. That’s especially true if you have over $7,500 in credit card debt to contend with and you’re having a hard time making ends meet.
If that sounds like your position, it may not only be easy to qualify for credit card debt forgiveness, it could be worthwhile to get started now. After all, your financial hardship may get worse as inflation persists. And, that persistent inflation means that higher rates and payments could be on the horizon. Reach out to a debt forgiveness expert now to find out if you qualify for help.
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Long before comic book characters dominated movie screens, actor Christopher Reeve made the world believes in superheroes with the 1978 classic “Superman.”
Reeve died in 2004, nearly a decade after an accident re-shaped his life. “Super/Man: The Christopher Reeve Story” is using interviews with family and friends and never-before-seen home videos to explore his real-life heroism.
Reeve started his career on the stage, studying at the prestigious Juilliard School and living with comedian Robin Williams. The pair had a friendship that was “more like a brotherhood,” said Reeve’s son Matthew. Reeve was in awe of Williams’ energy and versatility, Matthew Reeve said, but audiences quickly clued into Reeve’s own star power when he took on the role of the Man of Steel.
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To his children, though, he “was just dad,” Matthew Reeve said. The documentary explores how Matthew Reeve and his sister Alexandra Reeve Givens grew up watching their dad take the stage as Superman. “Super/Man” also reveals their heartbreak over their parents’ breakup and the joy they found when Reeve re-married. He tied the knot with Dana Reeve in 1992, and the pair welcomed another child, William Reeve, later that year.
“Dana was sunshine,” Alexandra Reeve Givens recalled. “She just brought joy with her wherever she was and could find it even in the darkest moments.”
Those dark moments came suddenly, when in 1995, a near-fatal horseback riding accident left Reeve paralyzed from the neck down. The documentary allows viewers to see, for the first time, what went on out of the public’s view. Reeve can be heard talking about how he “ruined (his) life and everybody else’s,” but in a touching moment, old friend Robin Williams is seen visiting him in the hospital.
“Robin showed him ‘Hey, you’re still you,'” Alexandra Reeve Givens said. “‘You still have this foundation of friendship and people around you, who adore you. And you’re going to find those fun moments in life again.'”
That support from friends and family re-ignited Reeve’s legacy of activism. He made appearances at the Democratic National Convention and the 68th Academy Awards in 1996, about a year after the accident. Matthew Reeve said watching his father address his industry peers at the Oscars was “one of (his) most proud moments.”
“It was just a production for him to get out of bed every morning, let alone get across the country and go out in public for the first time,” Matthew Reeve said. “It was a big deal. It was a big deal to him, but it was also a big deal to the entire disability community. We stayed up in London till like three in the morning to watch that live. It’s a fond memory.”
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Reeve also went on to launch what would become the Christopher and Dana Reeve Foundation, which is dedicated to advancing research into spiral cord injury and help individuals and families impacted by paralysis. It was his dad’s mission to find a cure, Matthew Reeve said, while his stepmother wanted to focus on improving the lives of paralyzed people and their families. The foundation and Reeve’s platform helped bring unprecedented attention and funding to spinal cord injury research.
Reeve even kept acting and realized his lifelong dream of directing with the 1997 HBO movie “In the Gloaming.” Reeve died in 2004 from heart failure at 52.
“There is a huge amount of great actors and actresses out there, where their filmography might be amazing and what they achieve on a cultural level might be amazing, but have they actually achieved anything really as a human that moves the needle for our society?” said filmmaker Ian Bonhote, who made the documentary with Peter Ettedgui. “And Chris has done both things.”
“Super/Man: The Christopher Reeve Story” will open in theaters on Friday, Oct. 11.
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