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Free Debt Consolidation - Free Online Database For Debt Solutions & Free Debt Advice.

How Does Debt Consolidation Work?

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 payment.
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 significantly,
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
spending. However, the consumer may choose which accounts they want to include
or keep out of debt consolidation.


 Free Debt Consolidation Management program can help you:

  • Reduce your monthly payment amounts
  • Reduce or eliminate interest
  • Improve or rebuild credit
  • One lower monthly payment
  • No home ownership or credit check
  • No obligation
  • Path to becoming DEBT FREE

   Simply Click Here 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
reached. But what about the interest? Unfortunately, that's revolving too.
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
lender 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.
You can also see our article on How credit Card Bills Are Calculated for details.
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 interest.
  • Restructured Payment Plan
    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
  •  Stop 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 account. 

  • Debt Consolidation Agency Handles Creditor Calls And Stops Client

  • Free Consultation and Quote
    Most established agencies will provide a free debt analysis and quote with no
    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 becoming debt
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
you, simply click here and fill out a short form.
We offer this service at no cost or obligation and your information is strictly confidential.

Bill Newman
Debt Management


Other Debt Consolidation Advice:

Credit Card Debt Get Credit Card Debt Relief and start living free once again with our credit card debt settlement & consolidation program helping you to eliminate debt & minimize creditor phone calls.

Bill Consolidation Loan: Characteristics of a Good Debt Consolidation Company - What You Need to Know Before You Hire aDebt Consolidation Company.

Same Day Payday Loan - We provide short term payday loan to people that are facing a temporary cash flow problem.

The Loans Warehouse - Online loans broker for unsecured loans, secured loans and mortgages. - Credit Repair. UK Credit Cards and Credit Repair. Get a good Credit Rating and Clean Credit History.

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Affordable COBRA Insurance - Health Insurance Competetive health insurance quotes! Cobra insurance quotes from major plans plus a wide selection of quality short term, student, travel and dental plans.

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