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Badger Advisors Gets Bad Review For Paying Off Credit Card Debt

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Sooner Partners Credit Card Debt Scam

Who Is Badger Advisors and What is the Problem with its Credit Card Debt Offer?

Why has Badger Advisors been flooding the market with different types of credit card debt relief and credit card consolidation offers in the mail? The problem is that the terms and conditions that Badger Advisors offers are at the very least confusing, and possibly even suspect. The interest rates are so low that you would have to have near-perfect credit to be approved for one of their offers. Crixeo, the personal finance review site has been following Badger Advisors and a bunch of other websites connected to this organization.

Badger Advisors Credit Card Relief
Credit: ESB Professional

Credit card debt has become a growing issue globally. As more people continue to rely on the convenience of credit cards, they often forget the repercussions of this convenience, which are mounds of debt that are difficult to get rid of.

Moreover, people tend to use credit cards for unexpected costs, and this can be seen from this year’s Quarterly Report on Household Debt and Credit, which shows that there has been an $87 million increase in household debt.

Therefore, more people need to be educated about the effective methods of credit card debt repayment now more than ever. This debt can be very hard to pay off completely. More often than not, paying the minimum monthly amount is not enough to ease the burden as it will leave you with more interest charges in the long run and a high debt ratio.

Completely being credit card debt-free requires you to make adjustments to your overall monthly budgets and expenses, as well as adopting efficient payoff methods. If you are struggling with credit card consolidation, here is how you can ease the burden of debt through the following tried and tested tips.

1.   Use the Debt Avalanche Method

This refers to a method of debt repayment in which you arrange all your credit card debts from highest to lowest interest rates, also known as APR. After this, you begin paying off the debt, which has the highest APR first. During this time, you will also have to make the minimum payments on all credit cards. Thus, you will ultimately end up paying less interest rate in the end and get out of debt faster.

2.   Use the Debt Snowball Method

This is the most commonly used credit card relief strategy. It is similar to the debt avalanche method. However, in the debt snowball, you begin by paying off debts with the smallest card balances first regardless of the interest rate and then work your way up to the highest card balance. During this time, you will still be making the minimum payments on the other credit cards as well.

This method is popularly used because it keeps the individual motivated and stays on track by making consistent payments. The satisfaction of completing payment of one debt provides an incentive to continue paying off the debts. Additionally, it also has the potential to have a positive impact on your credit scores.

3.   Utilize Balance Transfer For Credit Card Debt

Balance transfers are considered a quick way to ease the burden of high-interest credit cards. This includes transferring all your balance towards one single credit card and paying a lower or no interest rate. Some credit cards offer a 0% introductory APR for the first few months, which means that you will not have to pay any interest and significantly reduce your costs. However, some offer a transfer fee, which you need to keep in mind.

Even if you do not have multiple credit card debts but have a high-interest rate on one of your credit card debts, you can transfer the balance and not have to pay that amount or incur any extra amount.

4.   Evaluate Your Monthly Expenses and Change Your Budget

If you plan on becoming debt-free and paying off all your debts, you need to re-evaluate your monthly expenses and budget so that you can save enough from your income. Reduce your unnecessary expenses such as subscriptions, spending on dining out or coffee, extra entertainment packages you do not need, and so on.

You can also consider increasing your monthly income through different means. For example, by taking up a part-time job or a special skill such as writing, tutoring, or playing an instrument, you can also earn extra money. These methods will help you save enough money per month that you can put towards paying off your debt.

5.   Pay Off Debts Using the Snowflake Method

This is an easy way of paying off your debts that you can start using from today. It requires you to use your ‘everyday’ savings, such as loose change and collect them to save up for your payoff plan. Or you can ’roundup’ your savings account to make a credit payment. This is an excellent method to combine with other debt repayment methods such as the snowball or avalanche methods.

Debt Repayment Methods to Avoid

Here is a list of all the debt repayment methods that may be tempting for you to use, but you should steer clear of them because of how risky and uncertain they are. 

Debt Consolidation Loans

As tempting as streamlining and consolidating all your debts into one through this method may sound, debt consolidation is a very risky debt repayment method. This is because it may expose you to more debt if you begin using credit cards again while paying off the loan, eventually making it even harder to be debt-free.

Debt Settlements

In this method, debt settlement companies negotiate with your credits to revise the payment terms and reach a settlement that is in your favor. However, this is a risky method. These companies charge a very high fee for results that are not guaranteed to make you debt-free. If you want to reach a settlement, you should do it yourself.

401(k) Loans

Borrowing against your retirement plans may be tempting; however, it might cause a myriad of problems for you in the future and lead you to several penalties.   

Home Equity Lines of Credit (HELOC)

Borrowing from your home equity is the riskiest debt repayment method because you risk losing one of your most precious assets, your house if you are unable to repay all the debts. 

The Bottom Line

Repaying your credit card refinancing debt may be a difficult challenge, but it is not impossible. The snowball and avalanche methods are beneficial in paying off credit debt, while many people also prefer to use the transfer balance payments method to avoid extra interest rate.

You can use the aforementioned methods either independently or in a combination of several to ultimately become debt-free. 

Zeus is the god of the sky, lightning and the thunder in Ancient Greek religion and legends, and ruler of all the gods on Mount Olympus. Zeus is the sixth child of Cronos and Rhea, king and queen of the Titans. His father, Cronos, swallowed his children as soon as they were born for fear of a prophecy which foretold that one of them would overthrow him. When Zeus was born, Rhea hid him in a cave on Mount Ida in Crete, giving Cronos a stone wrapped in swaddling clothes to swallow instead. When Zeus was older he went to free his brothers and sisters; together with their allies, the Hekatonkheires and the Elder Cyclopes, Zeus and his siblings fought against the Titans in a ten-year war known as the Titanomachy. At the end of the war, Zeus took Cronos' scythe and cut him into pieces, throwing his remains into Tartarus. He then became the king of gods.

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