| What
is Debt Consolidation?
Debt Consolidation is the replacement of several loans with
a single payment.
What types of loans can I consolidate?
Debt Consolidation can be used to pay off many types of unsecured
debt such as credit card debt, medical bills, personal loans,
store credit or charge account debt, gas charge accounts,
student loans and certain types of installment loans.
Who should apply for Debt Consolidation?
Any individual feeling overwhelmed with their current debt
situation should consider Debt Consolidation. Are the multiple
payments you are making each month on scattered due dates
leaving you stressed? Debt Consolidation could be the solution
for you.
What are the benefits of Debt Consolidation?
Determining the best benefits of Debt Consolidation depends
on your situation and your goals. Here is a listing to consider:
- Provides one convenient monthly payment
- Can lower debt payments by as much
as 50%
- Helps to avoid filing for bankruptcy
- Eliminates harassment from creditors
- Saves interest fees
- Reduces your overall monthly debt
- Improves your credit rating by establishing
a history of timely payments
- Helps you to establish a monthly budget
Remember:
With Debt Consolidation, your goal is to eliminate your existing
debt. Your advisor(?) will more than likely recommend the
closing of some or all of your accounts. Evaluate the necessity
of each account, and keep only the minimum open for emergency
use. |
