 What is debt
consolidation?
Debt consolidation is designed to help
pay off your debt by combining all your bills into one
affordable monthly payment. Under our program, monthly
payments are lowered and interest rates are reduced -
sometimes totally eliminated. Your save thousands of dollars
in interest, and your payoff time is typically much less.
Why are my
creditors willing to do this?
Creditors are willing to lower
interest charges and monthly payments as a way to help the
client avoid filing bankruptcy, or to avoid having to turn
accounts over to a collection agency.
How will this
affect my credit rating?
Debt consolidation is the often
regarded as the best way to become free of debt. Future
creditors will view enrollment in a consolidation program as
your taking responsibility by making regular monthly
payments to meet your debt obligations. It may be that you
are current with payments but realize that you will never be
free of debt by paying only the minimum payment each month.
In this case, you are in financial danger but your credit
rating may still be very good. Once you have begun our debt
consolidation service, your credit report may or in most
case, may not indicate as this bill is being paved by a
Third Party payer. This is not a negative or positive
aspect, simply a neutral remark.
Which type of
debts can I include?
All unsecured types of debt can
be successfully consolidated under our program. These will
include credit cards, bank lines of credit, judgments,
attorney fees, IRS back taxes, previous rent, previous
utilities, disconnected cell-phones, student loans, medical
bills, and department store cards.
Should I just
take out a debt consolidation loan?
No. Many consumers see this as
the best option for resolving debt. They receive a lump-sum
check and are lead to believe that the interest is tax
deductible. Unfortunately, many families encounter deeper
financial difficulties than they had before taking out the
loan. Payments and interest charges on debt are not reduced,
and you end up having to pay down additional debt from your
new loan. Your home can be jeopardized if you become unable
to pay back the loan. The good news is that our debt
consolidation program reduces your payments without
incurring additional debt. You do not have to take the
opportunity of losing your home to get out of debt
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