Hawkeye Associates wants you to believe that they offer loans with APRs as low as 3.02%. They started flooding the market with offers for debt consolidation and credit card relief. The problem is that the terms and conditions are confusing to say the least and maybe even suspect. Do you think your approval is coming for 3.02%?
Interest rates are so low that you would need to have near perfect credit to be approved for one of the Hawkeye Associates Debt Consolidation Loans.
Crixeothe personal finance review site, conducted a Hawkeye Associates review, Yellowhammer AssociatesBig Apple Associates, Cornhusker Advisors, Badger Advisors, Rockville Advisors, Snowbird Partners, Gulf Street Advisors, Brice Capital, Johnson Funding, Taft Financial, Polo Funding, Jackson Funding, Dune Ventures, Braidwood Capital, Tiffany Funding, Nickel Advisors, Coral Funding, Neon Funding, Polk Partners, Ladder Advisors (also known as Carina Advisors, Corey Advisors, Pennon Partners, Jayhawk Advisors, Clay Advisors, Colony Associates and Pine Advisors, etc.).
Do you rely on credit card relief to get through tough economic times? If this is the case, you risk accumulating high debts that will be difficult to repay. You need to stop relying on credit cards immediately and look for better solutions.
The covid-19 outbreak wreaked havoc on the economy, and many people lost their businesses and jobs in the ensuing chaos. A lot of people can’t go back to work because of the lockdowns.
Even where confinement measures have been lifted, there is an atmosphere of fear because going outside to work increases the risk of infection. It looks like covid-19 is here to stay for at least several months and isn’t going away anytime soon. Thus, you will have to look for better ways to support your household rather than relying on credit cards.
Why Relying on Credit Cards Isn’t Good
You may have heard that banks and lenders are more lenient than usual in offering concessions and favorable terms to those struggling to repay their debts. In most cases, these concessions consist of extending the payment term and reducing the interest rate. You should be aware that card issuers do not waive principal or accrued interest before requesting concessions.
You may incur a lower interest rate due to the concession or your payment due date may be extended, but you will have to pay your debts in full. Therefore, based on credit card refinancing to get by is never a good idea. Your card companies may soon be demanding refunds. If you’re unable to repay, you may have to file for bankruptcy, which will stay on your credit report for years.
Instead of relying on credit cards, you have to look for other ways to get out of the mess. First, you need to check what measures your credit card issuers offer as relief and concessions for over-indebted customers. Chances are, your credit card issuers will lower interest rates for those who are having trouble repaying their debts.
Instead of relying on credit cards, you should stop using them and apply for these beneficial terms immediately. By lowering the interest rate, you will save a lot of money that you would otherwise owe. You may also get other benefits such as extended terms.
Rather than relying on credit cards or debt consolidation, you should see if you qualify for stimulus checks and other benefit plans. You should also contact your employer to find out if they offer benefits to staff who cannot work. There is no harm in knowing and discovering. You never know what you might discover. So it is better to look for other opportunities instead of relying on credit cards.
In the United States, states are ordering lenders and credit card issuers to delay payments. However, just because credit card issuers won’t demand payment now doesn’t mean they won’t demand it later, when they are allowed to do so. Postponement does not mean forgiveness. Therefore, relying on credit cards to weather the crisis is unwise.
If your situation is too serious, you may have to declare bankruptcy. However, this is the most extreme option and the last resort. It would be helpful if you exhausted all other avenues before resorting to filing for bankruptcy.
Although bankruptcy may seem like a nightmare under normal circumstances, you may have no other choice under the current circumstances. It would be helpful if you spoke to your financial advisor to determine whether or not filing for bankruptcy is better than relying on credit cards. Bankruptcy can be something that you may not be able to put off any longer. After a period of time, credit card issuers may come to you and demand payment.
Avoid relying on credit cards
One crucial fact you need to keep in mind when relying on your credit cards is that until now various states have ordered lenders and credit card companies to be lenient. In other words, governors have issued orders for credit carriers and lenders to extend payment terms. So far, there has not been a single debt cancellation order. Given the nature of the governor’s orders seen so far, it seems unlikely that there will be pressure on lenders and credit companies to cancel debt. Therefore, relying on credit cards is unsustainable in the long run, as none of your debts will be forgiven.
So whatever debt you’ve accrued to date relying on credit cards, all of it has to be paid off later. Better to stop relying on credit cards than to fall into a giant debt trap and watch the interest grow exponentially.
Instead of relying on credit cards, you should look to friends and family for financial support. Although it may seem undignified to ask friends and family for funds, it can be much better than racking up credit card debt. You will of course need to explain to your potential benefactor that you will be able to pay once the economic situation improves and you get your job back.
You will need to indicate that the only reason you are borrowing is that you have lost your source of income due to the current COVID-19 pandemic. As the situation improves and jobs are created, you will do your best to find one and make loan repayment your priority.
To further reduce reliance on revolving debt, you will need to take steps to reduce your expenses. Considering the seriousness of the tax scenario for you, you must waive all entertainment expenses. Whenever possible, you should cook your food instead of eating out and look for cheaper alternatives. You may also need to take strict measures like canceling some subscriptions in favor of profitable options.
It may seem difficult for you now, but whatever steps you take to reduce credit card usage, you will soon benefit because you will have a smaller balance to pay off.
Posted on April 23, 2021