Taft Financial is gaining attention recently in their efforts to help consumers get back on top of their financial picture. Nobody was expecting 2020 to go from a very positive-feeling New Year into a spiral of medical and economic uncertainties. The circumstances of the year have left many consumers turning to whatever financial resources they had just to keep paying the bills and buying groceries. Emergency funds, if they existed at all, may have been quickly emptied. The next strategy is typically to use credit cards to pay the bills.
The unfortunate thing about a credit card is that it carries double-digit interest rates if you don’t pay the balance in full before each month’s due date. This starts to compound, creating a snowball effect of debt that can be difficult to stop once it starts rolling. And what if you had to use multiple credit cards as your emergency fund? Now you’re carrying multiple balances over, each with its accompanying interest fees. But the Taft Financial reviews show that consumers are able to stop the snowball effect of credit card debt.
Let’s look at the seven most frequently asked questions (FAQs) about the Taft Financial debt consolidation program. The last question will help answer how to apply for Taft Financial, should you decide to do so.
You, like many other consumers, might find yourself looking at an envelope you received in the mail and asking, “What is Taft Financial?” In this article, we hope to provide you with an answer. The short answer is that Taft Financial is a debt consolidation company. They work with people who may be in over their heads with credit card debt. It’s important to mention that they only work with credit card debt; if you’re struggling with a student loan, mortgage, or other debt, you will need to work through those issues separately.
Borrowing from a credit card isn’t like getting a home or business loan. Typical 30-year fixed-rate mortgages carry an interest rate between two and three percent. A Small Business Administration loan, with terms of 7 years or less, currently carries under 10% interest. Compare these interest rates to credit cards that charge 14 – 18 percent, and sometimes higher! No wonder they call being in debt “underwater.” It can feel like your drowning. And, like being under actual water and getting carried away with the current, those interest rates can sweep you along until you’re left without many options. That’s where debt consolidation comes into the picture; it is one of the ways you can use to try to get out of this type of debt.
Here’s what happens when you work with a company like Taft Financial: With your authorization, they’ll pay off all of your credit card debts in full. The interest rate nightmare stops immediately. If you’ve been overdue on any of your credit card payments, you won’t have to dodge phone calls or “past due” letters. Instead, you begin making your monthly payment to Taft Financial, and you can start getting on with your life. The importance of debt consolidation is that it allows you to pay off your debts, rather than continuing to struggle with minimum monthly payments that are really only covering credit card fees.
The best way to consolidate debt is the way that works for the resources you have. If you have excellent credit and a stable income, you might fare better with a zero-interest balance transfer. Other debt reduction strategies include earning more money, spending less money, and setting up an emergency savings fund. Easier said than done, right? Another popular method is to try to keep paying off the minimum balances until a financial windfall comes along. But for many people with credit card debt, the best debt consolidation option is a company like Taft Financial.
As we just mentioned, consolidating debt can be the easiest thing in the world–if you have excellent credit and a stable income. But how do you consolidate debt with bad credit? That’s where companies like Taft Financial come into the picture. You see, the world of debt and lending isn’t really designed to be friendly to the people who are struggling to make ends meet. One only has to look at credit cards to see this. First, it’s difficult to actually get a credit card unless you build a good credit score. Then, once you have the card, it can be great for convenience, security, and rewards just as long as you pay it in full every single month. And finally, once you do start to carry over a balance, it’s extremely difficult to get out of debt.
The reviews for Taft Financial would seem to indicate that this company listens, understands your limits, and works to come up with a plan personalized for you. Testimonials on their website indicate that Taft Financial can show consumers how to pay off their credit debts while still being able to pay rent and other bills. The best course of action may be to apply with Taft Financial and see what they have to offer. If you’re not happy with the terms, you can always say, “No, thank you, I’ll figure something else out.”
Okay, so now you’re ready to get started. Where do you go if you want to proceed with letting Taft Financial help you begin your journey to getting out of debt? You can apply for Taft Financial today online, and it’s as easy as answering a few questions! The questions they’re going to ask are:
You’ll notice that there is nothing about your social security number, your credit rating, or your account numbers. That’s because Taft Financial only wants to know general estimates to make sure they can help you. There’s also no mention of collateral, and this is because they aren’t going to ask you for collateral.
The best course of action may be to apply for Taft Financial’s debt consolidation program and see what they have to offer.