Life Loans

What do you do when you have a legitimate need to know how to get out of debt? Do you know any proven methods for paying off debt faster…methods that actually work without the burden of a higher payment or unreasonable expectations? I’d like to invite you to read my review of PWM and the Perfect Debt Solution Plan.

PWM, The Perfect World Marketing is a company with a pretty in-depth debt reduction product called The Perfect Debt Solution. They have a comprehensive and cutting edge pre-payment plan that is worth looking at if your goal is to pay your home (or other debt) off early. Could this be the answer to your money woes or will you be expected to pay a higher payment, make unreasonable cuts to your budget, or make balloon payments you can’t afford?

In this review, I’m going to work backwards to how I normally do. I’m going to first explain how it works, and then I’ll get into the company/compensation information.

How’s it work? Using banking algorithms to snowball principal reduction in the borrowers favor, this payment plan can essentially pay off debt in half the time or more.

A simple way to think about it is like this: The banks have created a very complex system using something called compounding interest. It’s a great concept, but unfortunately, it works for the banks and against us, there-by keeping us in debt for years. Not to mention the thousands of dollars wasted in interest.

PWM claims that by working with the banking algorithms and applying the steps provided by the borrowers financial analysis, you could essentially reverse the compounding interest in your favor, cut the amount of interest you pay by thousands of dollars, build equity much faster, and achieve a pay-off in 1/2 the time or more.

It would seem that human instinct is to hide from collection agencies. We don’t answer the phone when they call and we fail to respond when they file suit against us. As natural as it seems, hiding from the problem is the worst way to deal with it. And quite honestly, responding to a lawsuit from a collection agency could be the fastest way to make it all go away. That’s because in many cases, collection agencies don’t have the right to sue you!

This is a problem the industry created for itself and I doubt anyone will feel sorry for them. Just the same, let’s take a look at how debt collection has grown in recent years and how all the selling and trading of debt from one company to another can actually benefit the consumer.

The Debt Business is Booming

The debt collection industry has grown tremendously over the last decade. In the late nineties, the debt purchasing industry was in the range of $10 billion. Today the debt purchasing industry has grown to more than $115 billion. Debts are typically sold or assigned to third party debt collectors when the original creditor feels the debt is no longer collectible. The original creditor is the party with whom the debtor receives an extension of credit or to whom the original debt is owed. These include credit card companies, banks, and mortgage companies, just to name a few. The original creditor sells the debt in portfolios or in bulk to third party collection agencies for around four cents on the dollar. The debt collection agency will then attempt to collect on the debt for the full amount allegedly owed to the original creditor.