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You can consolidate your debt through loans, home’s equity, or a debt repayment plan set up by a credit counselor.
Debt consolidation through settlement allows you to reduce your principal credit card balances instead of just seeking a lower interest rate. You do not need good credit to negotiate and settle with your creditors. You do not have to worry about qualifying for a consolidation loan with bad credit.
Lenders have increased their borrow requirements so you will need a high credit score of 740 or more to even get the benefits of a low interest credit consolidation loan. Using settlement to consolidate your bills is a better way to reduce your debts.
What is Traditional Debt Consolidation?
In the case of a debt repayment plan, you would need to contact a credit counseling agency and find out if you qualify for an interest rate reduction through your current lenders. If you do, you’d be expected to close all of your accounts and set it up so that you’re only paying one set payment through a credit counseling agency every month. The credit counseling agency will take your payments and forward them to your creditors on your behalf at a newer, lower interest rate.
This is something you’ll only want, and maybe be able to do, if your interest rates are under 10%. Otherwise, it may not be a benefit to you. If your interest rates are over 20% then you may be eligible for a significant reduction in your interest rates, which is good. Another great benefit of debt management plans like this is that you can make one set payment through the program, which allows you to prepare financially for your future.
Welcome to Debt Consolidation
We help people get out of debt the smart way – without a new loan and without worrying about having good credit. Find out how debt settlement and debt relief works!
What are the benefits to reaching an agreement your creditors can settle on? Who is Debt Consolidation? Can they help me get credit card relief? What is the best way to get bill relief without bankruptcy?
Debt settlement will help you get rid of your debts so you can re-take control of your life.
Get Debt Relief – through Debt Consolidation and Debt Management
Times are tough, and many Americans are facing unparalleled problems with debt – they know they need debt help, but aren’t sure how to get it. If you are living a life filled with collection phone calls, threatening letters in the mailbox and sleepless nights, you need to know about the best debt consolidation companies and how we help with debt reduction and debt consolidation. Whether you are delinquent or struggling to make minimum payments, you may be able to get rid of your mounting debt and begin to see light at the end of the tunnel – Debt relief is here!
Debt Consolidation is a debt relief company, providing credit card debt management services, whose dedicated team of professionals has but one goal, and that’s to help you turn your life around and get some much needed bill relief. It doesn’t matter how much unsecured debt you have, we are one of the best debt relief companies, we are there to help remove the worry, the stress, and get you out of credit card debt so you are on the path to financial recovery.
Why is debt settlement a better choice for you than traditional credit consolidation loans?
Using a debt settlement service is a choice, and a choice that can change your life. Debt settlement, rather than credit counseling or bankruptcy or debt consolidation loans, can prove to be one of the best choices you make when you want to reduce your credit card, hospital and medical debt. Debt settlement is a life-saving decision. Choose debt settlement now and settle your debts for less than what you owe. You can get started with no up-front charge. And you only pay when you get results from settled debts.
When you use Debt Consolidation for debt settlement services, here is what you can expect:
- We have debt settlement professionals who will work with your creditors to get your balances as low as possible.
- Rather than continuing to pay huge and numerous bills each month, you will start making one low monthly payment that you can afford.
- We will get it to an amount you can cope with, and each payment will be put into an FDIC insured trust account, where it will work to satisfy your debts.
You can expect to settle your debts within 24 to 48 months of starting a debt settlement plan and with a payment plan you can live with.
If you have tons of debt, and your only alternative is bankruptcy, think again! Consolidation is another alternative to bankruptcy protection. Consolidation using settlement is NOT getting a new loan, to pay off all other debts you owe. As a result, you have one low monthly payment and you get much needed credit card relief.
Some tips to consider before doing Debt Consolidation for debt relief
-Join a credit counseling and financial management program by an accredited debt relief firm
-Consider your options by choosing the right type of debt relief
-Get help from a consumer credit counseling agency
Secured debt consolidation loans and how can it help you pay off your bills?
Secured Debt Consolidation Loans, a form of financial relief, allow you to use property, such as a home, or other forms of real estate properties, as collateral to secure the loan. Home equity loans, home equity lines of credit or second mortgages are popular choices for consolidation loans.
BUT you need a good FICO credit score to qualify and you need equity in your home which may be hard for homeowners facing foreclosure or a mortgage more than the home is worth.
Taking your unsecured debts – credit cards, medical & hospital bills, business debts, payday loans, collections & repossessions – and putting them into a new secured loan may not be the best idea. The best result you can get is a lower APR on your debts. A better result would be up to 50% reduction on your total balance as can be achieved with negotiating and settling with your creditors.
What is an unsecured Debt Consolidation Loan?
Unsecured Debt Consolidation Loans, another form of debt relief, are useful when you don’t have properties to use as collateral. You do need a good FICO score to get approved but if you have missed a few payments in the past you may not have such a high credit score. Most borrowers will not qualify due to tougher lending requirements.
With consolidation through settlement you do not have to worry about your credit scores.
Why Consider Debt Settlement Over Bankruptcy
Many people think that going to bankruptcy court is their only debt relief option when debts seem insurmountable, but that is a very old notion. Bankruptcy, a form of debt relief, can and will affect your credit for years to come (at least 7 to 10 years), and can result in loss of property as well as still being forced to pay off the debts.
Bankruptcy is one way to lose your credit and still be in debt.
Here’s how it works:
- Bankruptcy can destroy your credit by leaving your ratings low for as long as 7 to 10 years.
- Chapter 7 bankruptcy can require the sale of any property not protected by law.
- Chapter 13 bankruptcy will offer a payment plan and will leave a bankruptcy mark on your credit report.
- Your credit report will reflect the bankruptcy option you chose, and your chances of getting credit will be low if not impossible. Interest rates will be high.
- Yes, bankruptcy is an option, but is it one you want to take?
- How Can Debt Settlement, a reliable form of debt relief, Help You?
By knowing more about credit card settlement and how it works, you may see that it is the right path to take for eliminating your debt problems and finally get that debt relief you need.
As you make affordable monthly payments through an FDIC insured trust account, and save funds for settlements, once settlements are made, your credit report will reflect that you have $0 balances and account is “Settled”, unlike Bankruptcy that will stay on the report for 10 years with no promise of a zero balance.
You will be able to make one monthly payment into the program a payment that you can afford and get debt relief.
No upfront fees, your payments will go into a trust account designated for settlements, only after agreements with creditors are reached the fees will be collected.
Reduce your debt and be stress free, get debt relief – contact us today to see if you qualify.
Debt Settlement and Other Alternatives to Bankruptcy
At Debt Consolidation, we believe that debt settlement is a good option for many people. We can provide the knowledge and experience to help you make the right decision for your circumstances. That’s why we provide information and guidance on two other main credit relief alternatives to debt settlement
Debt Consolidation can help you find the right solution with a free consultation and get you debt relief. You can fill out our Short Application and one of our recommended debt specialists will contact you within minutes, or you can call now.