Debt burden is the cost of servicing debt. For consumer it is the cost of interest payments on debt. The debt burden will be higher for credit cards and loans with high interest. The debts pressure on loans will be relatively lower compared to value of loan. You are struggling hard with a long standing debt of mortgage financial loan, car financial loan and your bank card bill among other pending bill; it may be hard to come out of this cruel cycle of debt.
Debt move is both pro-taxpayer and pro-economic growth. By easing the debt burden, lawmaker can avoid increasing taxes to pay for mounting debt obligations. Equally important, investors and business will be more willing to invest and grow in the state, leading to more jobs. Low interest rates and a more positive economic outlook appear to be inspiring Africans to pile up debt and pay it off as soon as possible; likely crossing their figures that interest rates won’t rise too much in the interim.
Debt counseling has the ability to lower interest rates, thereby providing very real debt relief.After paying off the highest interest rate credit cards, apply that payment to the card with the next highest rate. Continue in this manner until all of the cards have been paid off. For more information and first free assessment contact us: 0215540708