Debt Consolidation

Need professional help with your debt but don't think you have the resources? Think again.

The One-Size-Fits-All Miracle Program

When you're in debt, all you want is enough money to pay everything off. If you had a house or some collateral, that would be easy. You could get a debt consolidation loan or a debt consolidation mortgage. And if you had a lot of cash (just not enough to pay everything off) you could enroll in a debt settlement program and get everything paid off that way. But you don't have any of that, so you think you're stuck, right? Wrong. You can enroll in a debt consolidation program, and you don't need any of those things to do it.

When you enroll in a debt consolidation program, a debt consolidation counselor contacts your creditors to get you reductions in your interest rates. Sometimes they can even get past fees removed if you've had them. (At $20-$40 a pop, those can add up fast!) All of this can result in lower balances. In fact, you can enjoy reductions of up to 57% off your total balance through a debt consolidationprogram. (If it makes you feel better, debt consolidation loans don't get you these reductions. A debt consolidation loan is just a loan at a much lower interest rate than you're currently paying on your outstanding debt.)

Once all the reductions have been made, the debt consolidation company puts the new, lower balances together and you make one monthly payment to the debt consolidation company, which they distribute among your creditors. As a result, all of your debt can be paid off in five years.

And if your creditors are hounding you about your debt, enrollment in a debt consolidation program (or any other debt management program for that matter) can put a stop to that. In many cases, your debt consolidation professional can also get your creditors to "re-age" your accounts once they've received a few on-time payments. This means if they were reporting your accounts as delinquent before, they will now report them as current. Think of the positive effect that will have on your credit report!

Remember, time is money. And the more time you spend in debt, the less money you'll have. That's why you need to rush to find a debt management company today.

All material copyright © 2008 Defying Debt. All rights reserved.

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