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Why you should consider debt relief this April
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In an economy still coping with (cooled) but stubborn inflation and the highest interest rates in decades, many Americans may be looking for ways to reduce their debt right now. While this concern can be significant at most times of the year, it’s arguably more important to get help right now, before it gets out of hand. Fortunately, debt relief services can help.
These services can take multiple forms ranging from debt consolidation loans (which can gather your debts in one, presumably lower interest rate loan) to debt consolidation programs (which can help minimize payments and interest rates) to debt settlement (which can work toward reducing the total amount you owe). The right type for you will depend on your circumstances – and the time you choose to act. And this April could be one of those times. Below, we’ll break down three reasons why you should consider debt relief this April.
Start by reviewing your debt relief options online today.
Why you should consider debt relief this April
Here are three reasons why you should strongly consider debt relief this month.
Your interest rates are still high
The average credit card interest rate hovers over 20% right now while rates on personal loans average around 12%. Those double-digit rates can make getting out of debt on your own difficult, if not impossible. Crunch the numbers with your current credit card debt to see how long it would take you to get your balance to zero by making minimum payments – assuming you don’t swipe your card anymore in the interim. It could take years. With these sorts of interest rates, then, it’s understandable why many would want to turn to debt relief services to dig themselves out of debt.
See how a debt relief service could help you here now.
Relief may be delayed
No one knows for sure when the Fed will cut its benchmark interest rate, thus keeping those with debt stuck paying higher rates than usual. While many are hoping for a rate cut as soon as June, one Fed official on Thursday raised the possibility of not issuing any rate cuts at all in 2024. And while the Fed doesn’t directly dictate the interest you’ll pay on credit cards and personal loans, it is a larger influencer.
“If we continue to see inflation moving sideways, it would make me question whether we needed to do those rate cuts at all,” Federal Reserve Bank of Minneapolis President Neel Kashkari said in an interview with Pensions & Investments magazine that aired on LinkedIn. With this possibility in mind, then, borrowers may want to start considering alternative ways to manage their debt this April, before the problem worsens.
Other debts may be more pressing
Your tax return is due in less than two weeks and if you owe back taxes you may have more pressing debts to deal with than just what you owe on credit cards and personal loans. Back taxes owed to the IRS can become problematic and could result in you having your wages garnished or even steeper legal consequences. Knowing that you may have to deal with these issues in just a few days, then, it can make sense to work out a plan for your existing, non-tax debt right now to alleviate at least one issue.
Learn more about your debt relief options online today.
The bottom line
Debt relief services can be helpful at any time but particularly so right now. Thanks to double-digit interest rates on credit cards and personal loans, an unclear expectation for when interest rates will be cut and the potential for also having to deal with tax debt in a few weeks, it could be smart to consider debt relief services this April. By being proactive and exploring all of your options now you can better determine the right path for you and start working toward freedom from debt both this month and in the months and years to come.
NEW YORK — Former New York Gov. David Paterson and his stepson were attacked in New York City on Friday night, authorities said.
The incident occurred just before 9 p.m. on Second Avenue near East 96th Street on the Upper East Side, according to the New York City Police Department.
Police said officers were sent to the scene after an assault was reported. When officers arrived, police say they found a 20-year-old man suffering from facial injuries and a 70-year-old man who had head pain. Both victims were taken to a local hospital in stable condition.
In a statement, a spokesperson for the former governor said the two were attacked while “taking a walk around the block near their home by some individuals that had a previous interaction with his stepson.”
The spokesperson said that they were injured “but were able to fight off their attackers.”
Both were taken to Cornell Hospital “as a precaution,” he added.
Police said no arrests have been made and the investigation is ongoing.
The 70-year-old Paterson, a Democrat, served as governor from 2008 to 2010, stepping into the post after the resignation of Eliot Spitzer following his prostitution scandal. He made history at the time as the state’s first-ever Black and legally blind governor.
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A 17-year-old boy was critically injured and a person is in custody after a gunman opened fire on a SEPTA bus in North Philadelphia Friday evening, police said.
At around 6:15 p.m., Philadelphia police were notified about a shooting on a SEPTA bus traveling on Allegheny Avenue near 3rd and 4th streets in North Philadelphia, Inspector D F Pace told CBS News Philadelphia.
There were an estimated 30 people on the bus at the time of the shooting, Pace said, but only the 17-year-old boy was believed to have been shot. Investigators said they believe it was a targeted attack on the teenager and that he was shot in the back of the bus at close range.
According to Pace, the SEPTA bus driver alerted a control center about the shooting, which then relayed the message to Philadelphia police, who responded to the scene shortly.
Officers arrived at the scene and found at least one spent shell casing and blood on the bus, but no shooting victim, Pace said. Investigators later discovered the 17-year-old had been taken to Temple University Hospital where he is said to be in critical condition, according to police.
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Through their preliminary investigation, police learned those involved in the SEPTA shooting may have fled in a silver-colored Kia.
Authorities then found a car matching the description of the Kia speeding in the area and a pursuit began, Pace said. Police got help from a PPD helicopter as they followed the Kia, which ended up crashing at 5th and Greenwood streets in East Mount Airy. Pace said the Kia crashed into a parked car.
The driver of the crashed car ran away but police were still able to take them into custody, Pace said.
Investigators believe there was a second person involved in the shooting who ran from the car before it crashed. Police said they believe this person escaped near Allegheny Avenue and 4th Street, leaving a coat behind.
According to Pace, police also found a gun and a group of spent shell casings believed to be involved in the shooting in the same area.
“It’s very possible that there may have been a shooting inside the bus and also shots fired from outside of the bus toward the bus,” Pace said, “We’re still trying to piece all that together at this time.”
This is an active investigation and police are reviewing surveillance footage from the SEPTA bus.