THE FACTS 43% of American households spend more than they earn each year. – Home ownership Preservation Foundation data of 60,000 homeowners 52% of employees live paycheck to paycheck. – The Met Life Study of Employee Benefit Trends: Findings from the 2003 National Survey of Employers and Employees, November 2003. Nearly 42% of all American households do not have enough in liquid financial assets to support themselves for at least three months. 46% of American households have less than $5,000 in liquid assets, including IRAs. - Asana Caner and Edward N. Wolff, “Asset Poverty in the United States: Its Persistence in an Expansionary Economy,” Levy Economics Institute of Bard College, 2004.

 

You can get out of debt by using the hidden secret in

the 700 billion dollar bank bailout

Did you know that the federal bailout of major banks and financial institutions has a hidden silver lining for people with credit card debt, and home mortgages? Well it does but you won’t hear about it on the news or read about it in the newspapers because banks and credit card companies are afraid that you’ll use it to get out of debt.

You’ve worked hard for what you have, whether it’s a home, car, savings or retirement account but they are at risk. If you have debt from credit cards, mortgages or auto loans you can’t pay then you face the very real possibility that you’ll lose everything you’ve worked for. Banks and Credit card companies can and will make your life miserable if you let them, but by taking action and now before it’s too late you can force them to stop.

The federal government is giving away billions of dollars of our money to the same banks that are pressing hard working people to make credit card payments they can’t afford and threatening to foreclose on their homes.

The newly enacted bail-out gave these same bank billions of dollars to get them out of financial trouble. Now you can use the same legal opportunities that the banks used to get out of your financial mess.

Why can you just pay your way out of debt?

The average US consumer's oldest obligation is 14 years old, indicating that he or she has been managing credit for some time. In fact, one out of four consumers had credit histories of 20 years or longer. Only one in 20 consumers had credit histories shorter than two years. (Source: myfico.com) That means that the average person has tried for 14 years to pay off their debt and 25% of Americans have been trying for 20 years or more. The simple fact is that you can’t and won’t be able to pay your way out of debt.

The average credit card indebted young adult household now spends nearly 24 percent of its income on debt payments, four percentage points more, on average, than young adults did in 1992. (Source: "Generation Broke: Growth of Debt Among Young Americans"). At this rate the never-ending cycle of debt will continue until you the consumer make a conscience effort to end it.

Banks and credit card companies are forcing families into the street resulting in severe stress that is breaking families apart. It’s estimated that the average US family has over $16,000 in credit card debt. How is this possible? Just look at the $334.2 billion dollars owed by Americans to just 10 banks!

The top 10 biggest credit card lenders $334.2 billion owed !!!!!!

Largest debit card volume in the U.S., 2007

1. Bank of America -- $106.03 billion
2. Wells Fargo -- $54.67 billion
3. JP Morgan Chase -- $37.26 billion
4. Wachovia -- $37.16 billion
5. Washington Mutual -- $35.03 billion
6. US Bank -- $23.03 billion
7. Regions Bank -- $15.29 billion
8. Fifth Third Bank -- $12.19 billion
9. USAA Federal -- $12.03 billion
10. RBS Citizens -- $11.51 billion

Note: Wells Fargo acquired Wachovia and JP Morgan Chase acquired Washington Mutual in October of 2008. These rankings do not reflect those moves. (Source: Nilsson Report, April 2008)

Credit card debt is just the tip of the iceberg. Let’s talk about your home mortgage.

1 in 10 mortgages are in default! Are you one of the millions afraid that they will lose their home? Are you behind on your car payments? Are your credit card payments taking every last nickel you have every month? Are you constantly getting calls from bill collectors? Do you wonder how you can get out of this mess?

1 out of every 200 homes will be foreclosed upon.
– Mortgage Bankers Association

Every three months, 250,000 new families enter into foreclosure.
– Mortgage Bankers Association

One child in every classroom in America is at risk of losing his/her home because their parents are unable to pay their mortgage.
– Based on information from the Mortgage Bankers Association

A slower real estate market can translate into falling prices and home values. As a result, homeowners who opted for adjustable rate mortgages may now find that as their mortgage rate adjusts higher, their home value is lower and therefore refinancing is no longer an option.

Six in 10 homeowners wish they understood the terms and details of their mortgage better.
– Freddie Mac/Roper poll of 2,031 U.S. homeowners, conducted 2005.

More than 6 in 10 homeowners delinquent in their mortgage payments are not aware of services that mortgage lenders can offer to individuals having trouble with their mortgage.
– Freddie Mac/Roper poll of 2,031 U.S. homeowners, conducted 2005

“Debt answers for today’s world”

At Family First Debt Relief we provide affordable and sensible solutions to your debt problems. We realize that money is tight so our programs are specifically designed to be an affordable alternative to those expensive programs that don’t offer any relief from the crushing weight of debt.

It doesn’t make any sense to spend thousands of dollars when you don’t have to. We show you exactly what you need to do to get out of debt saving you thousands and thousands of dollars. And we do it in plain english, no double talk or smoke and mirrors just plain easy follow steps that will let you get out of debt.

Our mission and goal is to show you how to put your family’s needs before those of the banks and credit card companies so you can live a happier and debt free life.
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