If you're feeling stretched by credit card bills or other high-interest payments, a debt consolidation loan may be just what you need. You could consolidate your bills, save money, and have spending room to spare.
Debt consolidation is a process which allows you to combine all of your monthly bills into one, conveniently-low, monthly payment --- Up to 50% lower than what you are currently paying. Debt consolidation is a negotiated agreement between you and your unsecured creditors, whereby,
Your Creditors agree to:
You make just one convenient lower monthly payment that you can afford which satisfies all of your unsecured debt obligation and your other living expenses as well. Payments are usually reduced by as much as 35%. Late and over limit fees are eliminated and very often by making the regular monthly payments on time, delinquent accounts get re-aged to current status again, saving your credit rating. Your restructured debt program will allow you to avoid taking the drastic measure of declaring bankruptcy or committing yourself to a long term debt consolidation loan that doesn't really solve the underlying problem.
By negotiating terms such as lowering your presently high interest
rates, a greater portion of each payment is applied toward your balance,
instead of mostly going to paying off interest. You will drastically
cut your pay off time from 15-30 years down to 4-6 years. This will
result in saving you thousands of hard earned dollars in finance charges.