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What
is Debt Consolidation? Consolidating debt means reducing interest, lowering payments, and only paying one company, or service. It’s a risk free program using a third party to negotiate with creditors on your behalf. With a single debt consolidation payment, all your creditors will receive their monthly payments, and you will quickly become debt free. You qualify if you have unsecured debt (like credit cards, medical bills, utility bills, personal loans) and a desire to get your finances back on track. Your payments don't have to be late. You don't have to own a home. Most credit counseling agencies can help to dramatically lower your overall monthly payments and interest charges. An example of a client with a combined balance on Citibank, Chase, and Discover cards of $15,000 in debt with an average interest rate of 21% would see the following benefits from a debt consolidation program:
Remarkably, your creditors fund most of the debt consolidation services. They agree to do this because they can increase the likelihood of recovering the principal on your debt. Otherwise, if they don't help you may file bankruptcy and they will likely collect nothing. Also, most credit counseling agencies are structured as "non-profit" companies. This allows the creditors to recoup a considerable portion of the lost interest charges through tax write-offs. Click Here to Start Eliminating Your Debt – Relief is on the Horizon. |
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