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What is Debt
Consolidation
Service?
Debt consolidation
is a process that
allows a
professional firm to
reach an agreement
with your creditors
to achieve the
lowest and most
affordable monthly
obligation needed to
satisfy all your
credit accounts.
Although this is NOT
A LOAN, we are able
to assist clients in
dramatically
reducing their
overall interest
rate, monthly
payments, and most
importantly pay-off
time.
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How Does this
Program Work ?
A successful debt
consolidation
program will
consolidate your
multiple accounts
into one manageable
monthly payment that
is then disbursed to
your creditors each
month on the same
date. We work with
your creditors to
reduce or lower your
interest rates,
re-age your
accounts, and
eliminate late &
over limit fess.
Creditors recognize
that people who
enter into a debt
consolidation
program are making a
good faith effort to
repay their
obligations.
By joining an
established debt
consolidation
program, you solve
the underlying
problems of high
debt without taking
drastic steps such
as declaring
bankruptcy or
committing yourself
to a long-term debt
consolidation loan.
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How Long Will it
Take to Complete the
Program ?
The length of time
necessary to
complete the program
varies from case to
case and will be
discussed with you
in your free
consultation after
review of your
online consultation
form. Depending on
the total amount of
your debt, the pay
off time can be
reduced from 15-30
years down to 3-5
years. This process
can drastically save
you thousands of
dollars in finance
charges.
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Is Debt
Consolidation Loan
an Option ?
NO! a debt
consolidation loan
usually requires
collateral (i.e.
home, car, 401k or
retirement funds,
etc.). This type of
loan will not reduce
the amount of money
you owe. It will
only place your
assets at risk and
extend your debt
further into the
future, and you may
be hit with stiff
fees for paying off
the loan ahead of
schedule.
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Is Bankruptcy an
Option ?
Bankruptcy is the
option of last
resort and a serious
decision in which an
attorney should be
consulted. Although
it will eliminate
your debts, taking
this action will
have a long-term
negative effect.
First consider the
cost; filing for
bankruptcy can cost
$1,200 - $1,500. You
must go to court and
may have to face
some of your
creditors.
Additionally, a
bankruptcy remains
on your credit
history for 10 years
and may impact your
ability to get
credit, or possibly
employment. Also, a
bankruptcy on your
credit history can
affect the cost of
various types of
insurance and even a
place to live.
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What Type of Debt
Could be
Consolidated ?
Our debt
consolidation
program usually
covers unsecured
debt, such as all
major credit cards,
department store
credit, gas card,
student loans,
unsecured personal
loans, medical
bills, utility
bills, legal bills,
taxes or child
support etc. Your
auto and home loans,
which are considered
secured debt, may
not be included. You
must continue to
make payments to
those creditors
directly.
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More questions?
Click here
If you are ready
to consolidate your
debt now,
click here to
receive a free quote. |
