Debt Settlement
Global Fortune Network is associated with some of the largest Debt Resolution Law Firms in the country. Every client not only is assigned an attorney but actually meets with them to be walked thru process. At Global Financial we guarantee your debts will be settled and make the process simpler and safer than any other debt settlement company.
Affordable Payments
You're payments are based off of the projected settlement amount and are tailored to fit your current financial situation. This will determine the amount of time (months) it will take to settle your debt.
Communications
Your assigned attorney will handle all of the communication with the creditors as well as stop the harassing phone calls from the creditors.
Attorney Negotiates on your behalf
Your attorney negotiates an agreement with your creditors to accept an amount less than what you currently owe, generally 40-60% less.
Be debt free
This is the end result. You are informed of all debt settlement offers made by your creditors and given the opportunity to accept or refuse. Once an offer is accepted you will receive a settlement letter so that you have a written copy for your own records. Once paid, the creditor will update your credit report to reflect a zero balance.
Credit Card Statistics
By Credit.com
Credit Card Usage & Household Debt
- 92.5 million US households have at least one credit card. It is estimated that 20% of households do not have any credit cards.
- In 2007, the average household with credit cards carried $10,385 in debt, a 7% increase from 2006.
- Credit card balances account for 6.9% of all household debt, down from 9.5% in 1998.
|
Year |
Debt per Household w/ Cards |
% Change |
|
1995 |
$5,800 |
19.4% |
|
1996 |
$6,634 |
12.7% |
|
1997 |
$6,811 |
4.2% |
|
1998 |
$6,885 |
1.1% |
|
1999 |
$7,342 |
6.6% |
|
2000 |
$8,114 |
10.5% |
|
2001 |
$8,288 |
2.2% |
|
2002 |
$8,724 |
5.3% |
|
2003 |
$8,664 |
-0.7% |
|
2004 |
$8,918 |
2.9% |
|
2005 |
$9,184 |
3.0% |
|
2006 |
$9,686 |
5.5% |
|
2007 |
$10,385 |
7.2% |
(Source: The Nilson Report, August 2008)
Credit Card Prevalence
There were 3.03 billion credit cards in circulation worldwide at the end of 2007, up 13.6% from the previous year. (Source: The Nilson Report, May 2008)
Client Referral
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