With $93,600 in debt to various credit cards and loans, and nearing retirement, this couple needs to consider debt settlement. They are like many others in debt who never seem to get ahead of their minimum payments. They are slowly but surely being swallowed up by the mounting interest payments and a debt that only grows.
http://money.cnn.com/2013/01/
In this story they have consulted a financial planner to aggressively pay off the full $93,600 balance using (1) a $14,000 gift from a parent, (2) decreasing contributions to retirement savings, and (3) one spouse forgoing retirement for as long as necessary to pay down the debt.
There is another way. Had they consulted a debt settlement attorney they would have learned that debt settlement decreases the principal balance owed. This means instead of paying off the full $93,600 debt, they could have had a qualified attorney negotiate for a greatly reduced sum.
For this couple this could change everything. Perhaps they both could retire? Perhaps they could both retire earlier because they could save more money for retirement? If you are a couple nearing retirement and still carrying debt, contact a qualified debt settlement attorney and learn more about debt settlement. It could change everything for you too.