• Debt Consolidation

Debt consolidation is the process of combining several unsettled debts like credit cards, medical bills, personal loans, payday loans etc into one loan in order to make a single payment. The type of loan is more favorable for the borrowers as it prevents you from making mistakes that result in penalties like incorrect amount or late payments. With consolidating your loan, you are just required to write one cheque to the single lender, instead of having to write checks to 5-to-10 creditors every month. Thus, it makes it all easier and convenient to handle for you.  

There is no easy way to get rid of your debts however, consolidation can help you deal the same with its long-term financial strategies. Thus when done in the right way, debt consolidation can help in -

  • Lowering your interest rates
  • Lowering your monthly payments
  • Help you get out of debt
  • Secure your credit score

Furthermore, there are three different types of debt consolidation programs for you, which includes - Debt Management Plans, Debt Consolidation Loans, and Debt Settlement.

Debt Management Plans - Debt consolidating plan is a structured repayment program designed to helps you pay off 100% of your debt. You are required to make single monthly payment to a consumer credit counseling service and the agency will distribute the funds to your creditors.

Debt Consolidation Loan - A Debt Consolidation Loan (DCL) enables you to make one payment to a single lender in place of making multiple payments to multiple creditors. The type of loan has a fixed interest rate that is lower than what you were paying, thus it reduces your monthly payments and makes it easier for you to repay the debts.

Debt Settlement - Debt settlement bounds you to provide a single lump-sum amount for the payment toward an existing balance in return for the forgiveness of the remaining debt.

Choose the one that suits your requirement and present financial status.

Debt Consolidation Loan

Being in debt is definitely not fun, you would like to settle the loan debt as soon as possible. Here comes debt consolidation loan for more ease. Deb....

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