Credit Debt Consolidation? Submit a form for a free consultation!

Credit & debt problems have the majority of Americans taking steps backward financially for the first time in our nation's history. Things that previous generations took for granted - things like retirement - are becoming a pipe dream for many of us who are instead worrying about making ends meet and paying our high interest credit card bills on a daily basis. With expenses increasingly every day consumers must be smarter about how they spend their money to protect their financial future.

One of the first ways a consumer can be smarter with their money is by checking out credit debt consolidation services. Programs offered by these companies can vary, but the basic premise is the same – save money on your monthly payments and become debt free faster.

Your Options

The three main debt consolidation options available to consumers:

Low interest debt consolidation loans can help you consolidate all your independent credit card accounts into one loan. These loans are either secured by collateral, such as your home or vehicle, or they unsecured, which does not attach collateral in the event you fail to pay as agreed but typically comes with much higher interest. Unsecured loans are one popular form of bad credit debt consolidation because you do not need a good credit score or any equity in your property to qualify.

Credit counseling is another debt consolidation service that can lower your interest rates and help you become debt free in four to five years typically. These programs, formally known as debt management plans, are typically offered by non-profit agencies who are subsidized by the credit card companies in order to encourage financially overextended consumers to pay their debts in full. Since the credit card companies give them kick-backs for administering these plans, the fees are usually very low, but the monthly payments can be high and very few consumers ever finish these plans.

Legal debt settlement is another type of program that offers the opportunity for consumers to pay less than the full balance they owe to satisfy their full debt amounts. This program offers the most significant savings, but comes with other costs, such as consequences to your credit. For those considering other bad credit options, such as loans and credit counseling, this may not be a major concern, however.

The Steps

Though the options vary, the first step for each consolidation option is the same – submit a form for a free consultation. This is an essential first move because how a program will work varies based on your particular situation. Your creditors, how much you owe, and what you can afford to pay monthly will all determine which options you should consider and how your programs will play out. This being the case, after you submit your form the next best thing for you to do is gather up all your bills if you haven't already. Your representative will likely ask about this when he calls you for your free consultation.

During your consultation, your representative will explain to you how the program works and based on the details you give him about your debts, a firm estimate of what the cost will be, including any fees associated with the consolidation service. He or she will also review with you all of your options for consolidating your debt, such as credit counseling, debt consolidation loans, and debt settlement. Though your consultant is not a lawyer, he can give you general information about the negatives of bankruptcy if you inquire.

If you are interested in enrolling into a program, your consultant will send you the appropriate paperwork and walk through the steps for signing up. The entire process can be as short as 24 hours if you prefer. Get started now by submitting a form!

Credit Repair & Debt Consolidation – What's the Difference?

Many consumers are confused by about the difference between credit repair & debt consolidation, when in fact, both of these solutions are very distinctive. Credit repair differs from debt consolidation services in the simple fact that it does not involve paying off your debt at all, but rather entails removing inaccurate or negative information about your credit report. They do this is by disputing this information with the three credit bureaus – Experian, Equifax, and Transunion. If the entity reporting the information does not validate that it is accurate, usually within 30 days, the credit bureaus are required by law to remove it.

As one might expect, getting debts legitimately owed that are being accurately reported off your credit is a challenging, if not impossible or illegal, task. Creditors make sure to continually validate what they report because one of the main reasons people pay their debts is so their credit isn't affected negatively.

Since credit repair is unlikely to be successful in this situation, people with bad credit from debt should consider debt consolidation before a credit repair program. Once the debt is settled or paid, however, credit repair has proven to be an effective method in order to help rebuilding your FICO score.

As mentioned the first step is to get out of debt, and you've found the right site for that! Call us now and see how CreditDebtConsolidation.org can help you: 888-296-1429!