There are several advantages if you choose to consolidate unsecured debt. It will really be a relief making the decision to end your financial difficulties right away. You have had enough credit problems in life. It is now time to get back on track by means of debt consolidation , your window to a debt -free prosperous life.
If you are carrying too much unsecured debt, you may choose from a few options to find financial relief and pay down unsecured debt. One option is debt consolidation . Debt consolidation can be undertaken by rolling all unsecured debts from several accounts to one with a lower balance. And by taking out a debt consolidation loan or seeking the assistance of a debt consolidation service.
Once you consolidate unsecured debt , a loan can be granted to you to cover up your existing debts. That is, if you are able to qualify for it. An unsecured debt consolidation loan does not provide security for the lender. However, they are harder to obtain or be qualified for especially for those who have serious debt problems.
These debt consolidation firms will negotiate with your creditors to reduce the interest rate in your monthly consolidation payment. Roll all your unsecured debt into one by a consolidation option. Once you have identified the most feasible consolidation strategy, pay off all your unsecured debt using your acquired loan. If there is a remaining balance from the consolidation loan, use it to jump-start paying back the debt.
Consider all your options. The best option for homeowners with equity is to apply for a home equity loan. Another one is to opt for a cash-out refinancing. Check with your mortgage lender, bank, or credit union to see whether you are qualified for this option.
You can get a personal loan which can be used to payoff numerous debts. Banks and credit unions offer personal loans to individuals, but only to those with good credit. These loans often have an 8-12 percent interest rate, but that is typically 5 to 10 percent less than your credit card interest rates.
Keep in mind that the type of interest on a home or personal loan is much better than credit card interest. Home, auto or personal loans offer simple interest. You are charged interest once a month. You have a definite payback period.
On the other hand, credit card interest is compounded. The creditor charges interest for the amount that you borrowed, then charges you additional interest for the interest that you owe! That’s why it takes forever to wipe-out credit card debt if you are making minimum payments.
There is also a quick way of debt elimination other than to consolidate unsecured debt. Debt negotiation programs take about 2-4 years for you to be debt-free. Your monthly payment will be reduced as much as 60%. And if you are being harassed by debt collectors, your debt consultants will employ various strategies to eliminate the harassment.
Debt Free Solutions is a debt consulting company located in Long Beach, CA. We have been in business for 10 years. We assist Americans across the U.S. to eliminate excessive credit card and other unsecured debt.
We utilize various programs and strategies to aid them in dissolving their debt in the quickest, safest, and most efficient method possible. We also analyze the risk factor. We structure our programs to drastically minimize the risk that is inevitable with all debt elimination programs.
We offer our clients much more than a debt settlement company does. The vast majority of debt negotiation companies simply settle your debts on your behalf with your creditors- nothing more.
On the other hand, we provide free services to significantly help to minimize the risks that are involved in negotiating with your creditors.
First, we offer a free, no-risk 10 day trial service. During our free trial, we negotiate with your creditors on your behalf to lower your interest rates. Also, we research to see if you have any old debts that you are not legally liable to repay. If, for any reason, you are not completely satisfied, you simply walk away. No commitments. No contracts.
Next, we provide a comprehensive credit repair service to all our clients. This is a $795 service that is absolutely free!
Also, we offer free attorney consultation (a maximum of five sessions) in case one or more of your creditors makes any threats.
Last, we provide a written guarantee that our clients’ creditors will settle for an average of 50% or more for all of the debts they attempt to negotiate.
Our services are competitively priced- and include the above free services!
Joseph Hernandez
CEO
Debt Free Solutions
www.debtfreesolutions.mobi
(800) 668-8090
It’s critical that you choose the get out of debt. You need to weigh the pros and cons of each program to determine which program is best. Choosing the wrong program may cause a financial disaster!