Starting Balance

Your Starting Balance is your Current Balance Due; TODAY!

So you have faithfully paid thousands of dollars on your cell phone bill over the years but over the past few months you hit hard times and the phone company shut you off.  In doing so they assess penalty fees, charge you an early termination fee and now all of a sudden you are on the hook for $750 for something you no longer have or could benefit from...

Maybe you are a business owner and you have paid tens of thousands of dollars to a vendor over the past decade.  Unfortunately the economy crippled your business and you were forced to close your doors.  However, you signed a personal guaranty with the vendor and now they want their money or they threaten to sue you.  Bankruptcy may not make sense because you have good equity value in your home...

Bottom Line, although you have paid all this money in the past, 100% begins with the current balance due today.  Therefore, if the inevitable is forthcoming, start taking a proactive approach.  It makes no sense to make a minimal payments on your credit cards because you are depleting your cash flow.

For example; Let's say you owe XYZ Company $5,000.  In January you realize that your doom is coming but you want to show good faith and make minimal payments in the meantime.  You budget $200 a month but by October you can no longer afford this payment.  You paid $2,000 total but you are still left with a $4,000 balance due to interest and late fees.  Three months later, the account goes into charge-off status and soon thereafter, collection agencies or attorneys are after you, collecting on a balance now over $5,000.

This scenario is typical.  Your starting balance is $5,000, despite what you paid in the past.

On the other hand, if you elected to stop paying in January, you could have saved the $2,000.  The process to collections would have been quicker, which in the end will help you achieve resolution that much faster.

Retaining Price Debt sooner, rather than later, will help guide you to a Starting Position on the inside of the track.  As a reminder, you Pay Nothing to Price Debt until your debt is resolved and you only make the payment that you agree to!

With Price Debt, we may be able to settle this account for you in October for $2,500 (50%).  If you act on your own, it may be October of the next year and perhaps you work out a settlement on your own for $3,500.  But, don't forget you already paid $2,000 additionally, so in essence you are paying an extra $3,000 to settle this account versus what we could have done for you.  Moreover, by not going with PDN, you would be deleting this off your record a year later, which means you are one year behind on your goals and $3k behind in net from where you could have been if you had contacted us first.

There are many scenarios like this.  Just know, your Starting Balance is Today's balance.  The collector on the other side may say making those payments will bode well for you in the future, but it's simply not true.  You have to keep the lights on and food on your table.  Creditors will work with you, us, but you have to be patient and don't lose sleep over their threats.  They can be convincing, which is what they do get paid to do.  In some cases, their threats have merit.  But again, if you contact PDN early enough, we can help stave off these actions.  In final, we direct all of the threatening collection calls to us, therefore those creditors by law cannot contact (harass) you.

Rest easy, call Price Debt: (800) 931-6920