Whether or not you buy into the conspiracy theories surrounding the terror attacks on 9/11, or the official narrative expositing those events, what is undeniable is that the stock market took a nosedive, and many people lost a lot of money. They lost a lot of money incredibly quickly, and there was belt-tightening across the nation.
When consumer confidence goes down, it lets loose the bears on Wall Street. If you’ve never been elucidated as to what bears and bulls on Wall Street represent, just consider the motions bears and bulls make in the wild. A bear takes its claw-filled paw and slashes down at something. Bulls buck upward with their heads.
When the bulls run free, stocks jump high. When the bears come out, stocks go down. When stocks go down, big ticket agencies frantically search for means by which their interests may be preserved against implosion, dissolution, bankruptcy, and/or collapse.
As a result, agencies that are owed money by individuals will usually double-down on debt collection when the bears are on Wall Street. But when political trends let the bulls come galloping down the avenue, they’re likely to ease their financial grasp on certain debtors. Economy and interest rates have a close relationship.
To that end, if politics predicate an upward trend in the stock market, and you have debt that you owe certain companies, you’re more likely to be able to negotiate some quotient of reduced interest with them. But this negotiation can be made more complicated or less complicated depending on how you go about it.
Have You Considered The Advantages Of Consolidation?
One of the most recommendable strategies when it comes to debt reduction is consolidation. When you can get all your bills organized into a single recurring payment, and you can pay that off in excess of the continuously accruing interest, you can usually source reductions on interest rates.
One reason folks are examining top companies for credit card debt consolidation is because, as DebtConsolidate.Company points out, “Many people are turning to debt consolidation in order to find some much-needed financial relief.” DebtConsolidate.Company puts many options of this kind at users’ fingertips.
You want many options available to you because different debt consolidation agencies can offer you different advantages. Some will be better at negotiating creditors down, some won’t be so good. Depending on your financial situation, different agencies will be more or less appropriate.
Since everyone has a unique financial situation (even if there are broad similarities), you’re going to need multiple choices in order to ensure you obtain the most relief.
The greater the debt relief you can achieve, the more comfortably you can go about securing financial liberation. It may take time, but if you’re smart about it, you can definitely get out from under the meaty paw of your own personal anti-profit bear, and ride the bull of positive financial trends to the pastures of debt-free living.
The key is not to get discouraged. Even a small loan of $1,000 can take half a year to a year for you to pay off, if you pay in amounts as small as $100. Interest will likely be between 4% and 30%, depending on your credit. So you want to pay as much as you can as quick as you can; but you don’t have to pay $1k a month.
If you’re paying $100 a month, you can whittle a loan like that down in a reasonable amount of time; even if the interest is as high as 8%. Just be sure you’re always paying in more than the interest adds when it compounds, and you’ll see the debt go down in time.