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Patriot Funding  is A Bad Choice To Get Out of Debt

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Why is Patriot Funding Accused of Being a Debt Consolidation Scam?

Patriot Funding has been reviewed by Crixeo, the popular news and reviews site, for being part of a long-running debt consolidation and credit card relief scam. According to Crixeo:

“The story is the same. They lure you in by sending you direct mail with a “personalized invitation code” and a low 3%-4% interest rate to consolidate your high-interest credit card debt. You will be directed to Patriot Funding Review  or My Patriot Funding More than likely you will not qualify for one of their credit card consolidation loans and they will try and flip you into a more expensive debt settlement product.”

Ed Miles, crixeo.com

The COVID-19 pandemic took the world by storm earlier this year. This led to the closure of businesses and workplaces, leaving thousands of people unemployed and without an income. One of the biggest struggles faced by workers as a result of losing their income was card debt payment. Credit card debt is becoming an increasingly rampant problem for everyone worldwide, especially after the adverse impact that the COVID-19 pandemic has had on the economy, forcing many to need coronavirus credit card relief.

If you’re also struggling to tackle debt and pay your credit card bills on time, then we have strategies that will help you tackle this issue. Keep reading to learn how you can deal with debt during the pandemic!

Talk to your creditor.

Your first step should be to get in touch with your creditor. Many banks and credit card companies offer credit card refinancing programs, especially in the light of the global pandemic. In these programs, credit card companies offer lower interest rates and flexible payment deadlines, among other relief options. 

Therefore, you should contact your creditor and inquire about any such program. These programs are often not advertised, and the companies only offer them when the customer asks for it exclusively. So, it would be best if you contact your creditor and explain your financial solution. If not a complete solution, the company will offer at least a short term relief so you can deal with your financial hardship.     

Ask for a lower interest rate.

Another thing you can do to deal with the burden of debt is to request a lower interest rate. If your credit score has improved since the time you subscribed to the credit card, then you have a high chance of qualifying for a lower interest rate now.

Opt for a balance transfer card

If you have high-interest debt, then transferring it to a credit card that offers a 0% introductory interest rate could be a great idea for getting relief. A credit card with 0% interest will reduce the amount you have to pay on your debt bills each month.

However, it’s only feasible if you’re able to pay off your debt within the introductory period. If not, then you could have to pay a higher interest after the introductory period. If you want to avail this option, you’ll have to meet a good credit score to qualify for the transfer. Make sure you do your research and apply for a card that has the lowest balance transfer fees.

Pay off high-interest loans first.

When you have more than one credit card, then you’ll have to prioritize your debt payments or look for a credit card consolidation program. There are two approaches that you can take to pay your debt: the debt avalanche method or the debt snowball method. In the debt avalanche method, you begin by paying off debt with the highest interest rate first. On the other hand, the snowball method is to pay off your smallest balance first and then move to the ones with higher interest sequentially. We recommend adopting the avalanche method for paying off your debt because paying off high-interest loans will reduce the cost of your debts in the long run.

Consult with a credit counselor

If you aren’t sure which option to take to pay off your debt, then we recommend consulting with a debt counselor. There are several affordable options available. Consider contacting a non-profit credit counseling agency for a free consultation. The counselor will go over your financial standing thoroughly and will develop a debt payment plan that works for your specific situation.

Moreover, the credit counselor may also be able to negotiate with creditors on your behalf. In your situation, hiring a credit counselor may not be feasible, so you should contact a non-profit agency for assistance.

How to handle medical debt?   

If you lost your job as a result of the pandemic, then you may also have lost your employer’s health insurance plan. Even if you do manage to keep the insurance by paying all the premiums on your own, it still won’t solve the problem of outstanding medical debt.

Without a health insurance plan, you’ll be vulnerable to financial turmoil in case of a medical emergency or illness. Here are a few options that you can consider:

Speak with your doctor/ primary healthcare provider: If you have an unpaid hospital bill that you are not in the position to pay, then we recommend talking to your doctor. You can request the doctor or the hospital’s billing supervisor to lower or forgive your debt. If none of that works, you would still be able to negotiate a sustainable payment plan to pay off your debt.

Some hospitals offer financial aid programs that offer to forgive or write off your debt partially or completely, depending on your situation. However, you will have to ask about such a program as they aren’t advertised or encouraged.

Seek consultation from a medical billing advocate: If your medical bill has already been sold to a debt collection agency, then consider consulting with a medical billing advocate. The advocate can help negotiate your debt with the agency and could potentially get your bill lowered. Most advocates charge a percentage of the saved money from the bill as their fees. 

Other options

If you run out of all options and have a high-interest debt to pay, then you can consider tapping into your home equity. The prices of homes have spiked over the past year, and you can take a loan against your home equity to pay off your high-interest debt.

A home equity loan will provide you a lump sum amount that comes with a fixed repayment period and interest rate. The repayment period can range from 5 to 30 years. Normally, you can take a loan of up to 85% of your home’s value. However, this number may have been affected due to the situation created by the pandemic.

Final Words

The current times are unprecedented and extremely challenging. Along with the health threat, the pandemic has also brought financial and economic havoc globally. If you’re struggling, then consider choosing one of the options that we have discussed above to tackle debt.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Turning Tragedy into Triumph Through Walking With Anthony

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On the morning of February 6, 2010, Anthony Purcell took a moment to admire the churning surf before plunging into the waves off Miami Beach. Though he had made the dive numerous times before, that morning was destined to be different when he crashed into a hidden sandbar, sustaining bruises to his C5 and C6 vertebrae and breaking his neck.

“I was completely submerged and unable to rise to the surface,” Purcell recalls. “Fortunately, my cousin Bernie saw what was happening and came to my rescue. He saved my life, but things would never be the same after that dive.”

Like thousands of others who are confronted with a spinal cord injury (SCI), Purcell plunged headlong into long months of hopelessness and despair. Eventually, however, he learned to turn personal tragedy into triumph as he reached out to fellow SCI victims by launching Walking With Anthony.

Living with SCI: the first dark days

Initial rehabilitation for those with SCIs takes an average of three to six months, during which time they must relearn hundreds of fundamental skills and adjust to what feels like an entirely new body. Unfortunately, after 21 days, Purcell’s insurance stopped paying for this essential treatment, even though he had made only minimal improvement in such a short time.

“Insurance companies cover rehab costs for people with back injuries, but not for people with spinal cord injuries,” explains Purcell. “We were practically thrown to the curb. At that time, I was so immobile that I couldn’t even raise my arms to feed myself.”

Instead of giving up, Purcell’s mother chose to battle his SCI with long-term rehab. She enrolled Purcell in Project Walk, a rehabilitation facility located in Carlsbad, California, but one that came with an annual cost of over $100,000.

“My parents paid for rehabilitation treatment for over three years,” says Purcell. “Throughout that time, they taught me the importance of patience, compassion, and unconditional love.”

Yet despite his family’s support, Purcell still struggled. “Those were dark days when I couldn’t bring myself to accept the bleak prognosis ahead of me,” he says. “I faced life in a wheelchair and the never-ending struggle for healthcare access, coverage, and advocacy. I hit my share of low points, and there were times when I seriously contemplated giving up on life altogether.”

Purcell finds a new purpose in helping others with SCIs

After long months of depression and self-doubt, Purcell’s mother determined it was time for her son to find purpose beyond rehabilitation.

“My mom suggested I start Walking With Anthony to show people with spinal cord injuries that they were not alone,” Purcell remarks. “When I began to focus on other people besides myself, I realized that people all around the world with spinal cord injuries were suffering because of restrictions on coverage and healthcare access. The question that plagued me most was, ‘What about the people with spinal cord injuries who cannot afford the cost of rehabilitation?’ I had no idea how they were managing.”

Purcell and his mother knew they wanted to make a difference for other people with SCIs, starting with the creation of grants to help cover essentials like assistive technology and emergency finances. To date, they have helped over 100 SCI patients get back on their feet after suffering a similar life-altering accident.

Purcell demonstrates the power and necessity of rehab for people with SCIs

After targeted rehab, Purcell’s physical and mental health improved drastically. Today, he is able to care for himself, drive his own car, and has even returned to work.

“Thanks to my family’s financial and emotional support, I am making amazing physical improvement,” Purcell comments. “I mustered the strength to rebuild my life and even found the nerve to message Karen, a high school classmate I’d always had a thing for. We reconnected, our friendship evolved into love, and we tied the knot in 2017.”

After all that, Purcell found the drive to push toward one further personal triumph. He married but did not believe a family was in his future. Regardless of his remarkable progress, physicians told him biological children were not an option.

Despite being paralyzed from the chest down, Purcell continued to look for hope. Finally, Dr. Jesse Mills of UCLA Health’s Male Reproductive Medicine department assured Purcell and his wife that the right medical care and in vitro fertilization could make their dream of becoming parents a reality.

“Payton joined our family in the spring of 2023,” Purcell reports. “For so long, I believed my spinal cord injury had taken everything I cared about, but now I am grateful every day. I work to help other people with spinal cord injuries find the same joy and hope. We provide them with access to specialists, funding to pay for innovative treatments, and the desire to move forward with a focus on the future.”

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