Debt Help / Consolidation is designed
to pay down unsecured debt and keep a good
credit history. This type of program allows an agency to
achieve the lowest and
most affordable monthly obligation needed to satisfy all
your credit accounts.
All of your accounts are consolidated into one manageable
The payment you make, in most cases, is significantly lower
than you are currently
paying to each individual creditor. This lump-sum monthly
payment is divided into
portions and paid out to your creditors.
By joining an established
consolidation program, most creditors will extend the
terms of your debt at a reduced and/or eliminated interest
rate with no late fees.
They will do this without further adverse affect to your
credit history. More
creditors recognize that people that enter into a program
are making a good faith effort
to repay their obligations. Therefore, creditors are more
willing to work with clients by
extending favorable terms to avoid the expense of turning
these accounts over to
a collection agency or not receiving any money at all if the
account holder's debt is
released through bankruptcy. The creditors do require that
all revolving accounts
(credit cards or lines of credit) entered into the program
are closed to prevent further
However, the consumer may choose which accounts they want to
or keep out of
DEBT CONSOLIDATION PROGRAM
Debt Consolidation Management program can help you:
- Reduce your
monthly payment amounts
- Reduce or
- Improve or
- One lower
- No home
ownership or credit check
- No obligation
- Path to becoming
to fill out a short form for free consultation.
So Why Is It So Hard To
Pay Down Credit Card Debt?
Credit cards and lines of credit
are what is referred to as revolving accounts.
Revolving, because the consumer is allowed to keep charging
until the credit limit is
But what about the interest? Unfortunately, that's revolving
Revolving interest rates make it
virtually impossible to pay down your debt when making
only your minimum payment. The minimum payments are
carefully calculated by the
so that over 90% of the payment goes to interest.
Yes, they want you to pay only the minimum!
Check out credit repair, it could really help you.
For example, if a consumer makes
only minimum payments and never charge again,
it can take anywhere from 20 to 40 years (or more depending
on the interest) to pay
off a balance of $500.00
Most consumers that try to pay
more than the minimum, also see very limited results.
This is where the revolving interest rate comes in.
It's not calculated like a traditional fixed rate on a
conventional loan even though credit
card companies claim that the rates are fixed.
Yes, it's fixed like a revolving door around the balance
every month. In addition, there
is a separate "daily rate" that is calculated along
with your APR.
So even with a low interest rate of 7.9% the consumer end up
paying much more
than that. Just examine your monthly statements. It's all in
black and white.
A good example would be to
compare a credit card to a traditional loan. Let's say you
purchased a car at a fixed rate for 5 years. That's a
traditional loan with a light at the
end of the tunnel. Your monthly payment doesn't change and
after 60 months you are done,
and you actually know how much in interest you paid out.
Now try that with a credit card.
Call any of your credit card companies and ask them
this simple question.
"If I make my minimum payments and never charge again, how
long will it
take me to pay off my balance?"
The answer is always the same. We don't know.
Some Benefits of a
Debt Consolidation Program are:
- Lower Fixed Rates
(Some creditors eliminate interest altogether)
A debt consolidation program will stop rates from
revolving so more of your
monthly payment is applied to principle rather than
- Restructured Payment
One convenient monthly payment for all accounts
that's disbursed to your
- In Most Cases a
Significantly Lower Monthly Payment
- Eliminates Debt in
4-6 Years Vs. Average of 20-40 Years
Penalties From Accruing on Late Accounts
Re-age Late Accounts And
Bring Back To Current
The law allows the re-aging of the account once every 5
years. Most creditors
want to see 3 to 6 on time payments before re-aging the
Debt Consolidation Agency
Handles Creditor Calls And Stops Client
- Free Consultation and
Most established agencies will provide a free debt analysis and quote
obligation to the consumer.
A note from the author:
When paired with the right
agency, a debt consolidation program is a powerful vehicle
that eliminates debt while restoring credit.
But regardless of how good the agency may be, your commitment to
free is essential for the program to work.
By building financial knowledge with the information provided on
this website, you will
have the edge when
consulting a professional regarding your debt.
If you would like to speak to one
of our consultants and see if such a program is right for
click here and fill out a short
We offer this service at no cost or obligation and your
information is strictly confidential.
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