What Is Debt Consolidation?

Debt consolidation is a free service offered by non profit credit counseling companies. Being non profit, these credit counseling companies are able to arrange special payment programs with many creditors. In most instances, debt consolidation can mean reduced or even eliminated interest rates on unsecured or credit card debt that lead to shorter payoff time. All client’s who enter a credit counseling program should expect to payoff their credit card debt in no more than five years and by only making one monthly payment.

Once enrolled in our debt consolidation program, your credit counseling company will negotiate new interest rates. After negotiation, these rates are applied and your credit card debt is re-aged to reflect a significantly lower and manageable balance. By enrolling in a debt consolidation program, your creditors will agree to these new rates only if the payments are made through your non profit credit counseling company. The payment made to your credit counseling company will be disbursed to each creditor that was included on the program. Additionally, credit counseling allows for finance charges to be eliminated. The debt consolidation bottom line for credit card debt: If you make one monthly payment through our non profit credit counseling program for three to five years, you will be debt free. Your creditors will still send monthly statements allowing you to see the adjusted interest rates and follow your decreasing balances when enrolled in a debt consolidation program.

There are many other advantages to debt consolidation through credit counseling, however, it should be understood that once enrolled in the program, your creditors will freeze any card included. Debt consolidation is a service that can only be offered by non profit companies. When being contacted, make sure to ask about the voluntary contributions needed to help keep these companies in business. Your voluntary contribution will be small compared to amount, up to 50%, that they save you in credit card debt payments.

Debt consolidation through credit counseling is an option. If you feel that your credit card debt has become overwhelming, do something about it. Many feel that bankruptcy is there only option while declaring bankruptcy will destroy your credit history and ability to apply for decent credit for many years. Credit counseling, on the other hand, through debt consolidation will indicate that you are actively trying to get out of debt or already have. Our partner companies have aided over 10,000 clients find there way to debt freedom and eliminate credit card debt. Let us help you become debt free today.

Make Me Debt Free