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
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
FREE DEBT CONSOLIDATION
Consolidation Management program can help you:
- Reduce your monthly payment
- Reduce or eliminate interest
- Improve or rebuild credit
- One lower monthly payment
- No home ownership or credit
- 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
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
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
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
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
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.
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
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
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 interest.
- Restructured Payment Plan
convenient monthly payment for all accounts that's disbursed to your
- In Most Cases a Significantly Lower
- Eliminates Debt in 4-6 Years Vs. Average
of 20-40 Years
Stop Penalties From Accruing on Late
Re-age Late Accounts And Bring Back To
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
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
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,
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
Credit Card Debt Get Credit Card Debt Relief and start living free
once again with our credit card debt settlement & consolidation program helping
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