Debt Consolidators and Credit Counselors

Our team of nationwide USA non profit debt consolidators and certified credit counselors can help with your debts, no matter how much the debt amount is and no matter how bad your credit is. The debt services team takes the time to go over your individual debt situation and recommend a debt solution that is unique to you. Hundreds of thousands of people have been helped before you. Now, it's your turn to be able to shout "I'm debt free!". Debt consolidator counselors are standing by now 877-550-0595.

What is Debt Consolidation?

In its simplest sense, bill consolidation involves taking out one large loan to pay a number of smaller, usually high interest, loans. As a concept, it is valuable for several reasons:

It allows a debtor to put all debt into one loan, usually with a smaller monthly payment than he/she had with all of the separate loans/debts.
Most of the time, the interest rate on the new loan is less than the average interest rate of the old loans/debts.
There is a convenience and peace of mind in knowing that only one payment needs to be made to cover the multiple former debts.
The debtor usually feels much less stress and tension than before, when he/she was trying to figure out which loans to pay during which pay period and juggling minimum payments to a variety of creditors, all with different due dates.

Types of Bill Consolidation

There are different methods available for bill consolidation. Certainly, the most attractive method is to borrow from a relative who may charge little to no interest. Unfortunately, most people do not have that "rich uncle" waiting in the wings to perform the rescue, and more traditional methods must be used.

For those people with collateral (usually equity in a home), a home equity loan may seem to be the best answer. With this method, the debtor takes out a loan on his/her home and has regular monthly payments until the total loan is paid off. Interest rates on these loans are usually adjustable and relatively attractive, provided the debtor has a good credit score. For those without a good credit score, however, they are unavailable. In addition, the home equity loan is placed on the title of the property and, should the debtor fail to pay this loan back, the property is in jeopardy of being taken. Anyone who considers a home equity loan must be able to "bite the bullet" of no more credit purchases, commit to living completely within his/her means from now on (and this includes minimal shopping for holidays!), and be willing to establish a budget within which he/she will definitely live until this equity loan is paid off. Nothing can be quite as frightening as to know that your house is "on the line".