BadCreditAssistance.com
"We Help People with Bad Credit get Bill Consolidation Loans"

MAIN MENU

 

FREE NEWSLETTER

    

 


 

Home Page

Get Credit Report
Personal Loans
 
Cash Advance
 
Auto Loans
 
Home Buyer Loans
 
Home Refinance
Stop Foreclosure
Credit Cards
Debt Consolidation
Credit Repair
Cell Phones

Computers

 

 

 

       


Debt Consolidation  *   Debt Negotiation



Consumers Info USA knows that mounting debt is a major concern for many Americans today.

If you are concerned about your current debt situation, constantly trying to eliminate debt from your life, you are not alone. In fact, over half of all American households have trouble meeting their minimum monthly obligations, driving them further and further into debt.

With the average household having 14 credit cards, its no wonder that credit card debt elimination is a big concern for most families. Finding a way to eliminate debt however seems almost impossible at times. But, if you are in this situation, then understand that you do have options when it comes to debt consolidation and elimination. 

Once you take the time to understand these options it is easier to choose the one that best suits you.


 

Debt Consolidation versus Debt Negotiation

No doubt you hear a lot of names and terms thrown around when it come to the subject of debt consolidation. Often they are used interchangeably, but they all essentially fall into two basic categories. Debt Consolidation…  this is basically is getting one loan at a lower interest rate to pay off all the other loans. And Debt Negotiation… often called Debt Settlement in which an attempt is made with the creditors for a lump sum payoff, or renegotiation of the terms and reduction of the interest rate.


Debt Consolidation

Debt Consolidation Companies offer consolidation loans that people use to combine all existing consumer debts or credit card debts into one single loan and one monthly payment. Some form of collateral, usually the family home, is often required to secure these loans. A co-signer may also be required

The are also options to obtain an unsecured loans for bill consolidation, but often the high interest rate associated with them could be even greater than what you have now which would defeat the purpose.

A debt consolidation loan allows borrowers to make payments to a single creditor rather than to many creditors who compete for loan repayment. You get one loan, and pay off the other entire loan. The concept is that the one large monthly payment will be much less than the total of all those other separate payments. And it simplifies things.

Debt simplification is appealing to many people whose personal finances have become complicated and unmanageable, but true debt reduction is usually NOT a benefit of such a consolidation loan.

A disadvantage is that consolidation loans, transform unsecured debt, which is not backed by any collateral, into secured debt, which is. Since most people use the family home as collateral, it could place the home at risk if they become unable to meet the conditions of the consolidation loan agreement.

Debt consolidation lenders are willing to work with their clients. However… if for any reason, you fall behind on monthly payments or become unable to make payments at all, the lender could take whatever was used as the collateral asset.

 
Debt Negotiation

Debt negotiation is sometimes referred to as debt settlement. This is most often offered to people who can't handle a debt consolidation loan program. This consolidated debt plan is much different. If you qualify for such a plan, you may restructure your debt with existing creditors without transforming unsecured debt into secured debt.

In fact, secured debt such as a home mortgage or automobile loan is generally NOT included this type of plan. Unsecured debts, usually credit cards, student loans, bank lines of credit, medical bills, department store credit cards and collection agency accounts, are more typically the kinds of obligations considered for a consolidated debt plan.

Under a consolidation plan, loans are NOT made at all… which is why you usually you can’t include any debt that has collateral attached to it. (car loans, home loans, etc.)

All existing creditors remain the same. However, interest payments due creditors may be re-negotiated, lowered or completely eliminated to allow more principal to be paid to your debt each month.

In fact, debtors may cut their monthly interest costs by as much as half what it had been before the implementation of the consolidation plan. This is the primary reason why someone pursuing quick debt reduction may be able to get out of debt in only 3 to 5 years on average – much preferable to the 10 or 15 years a consolidation loan may have taken to pay off.

A debt consolidation plan will allow you to manage your finances without any additional loans and without declaring bankruptcy. If you are having trouble meeting the minimum monthly payments on your debts or you feel you are slipping further behind each month, let a Debt Consolidation and Debt Management professional go to work for you.

Now you have a basic understanding of a debt consolidation loan program versus debt negotiation, or settlement, program. You will continue to hear then general term debt consolidation used both ways all the time by many people. It is important that you know the difference. Usually it takes one simple question: Is there a loan involved with your program?

Consumers Info USA wants to remind you...
that you are never obligated to accept and agree to
participate in any debt consolidation program simply
 because you completed an application.

Before you accept and agree to enroll in a program make sure you understand the terms. Will there be a loan involved, what are the rates, and exactly what your total monthly payments are. Then you decide if you can comfortably afford to make the payment!

Or is it a debt negotiation and restructuring program, and how much will those total payments be? How would the monthly payments be reflected on the credit report?

The companies listed below offer both options! You decide what is best for your personal circumstances.

Whether you have fair credit, bad credit, no credit, or are rebuilding your credit after a bankruptcy... the companies below have been rated the best in this debt consolidation category by consumer surveys, and past customer feedback. 

Simply click on the links below. You can quickly submit a
Free, No Obligation, Online Application
!

We recommend that you take the time to submit an application to each company. Once they reply back to you, compare each of their offers... and then decide which one you feel most comfortable with.  Then you choose which offer you would like to accept:

 

 

Click below for more information. Website opens in a new window.
If you use a pop-up blocker be sure to hold down the Ctrl key,
at the same time you click, to allow the window to open. 

 

 

Reduce My Debt
Since 1998, our debt consolidation professionals are dedicated
 to helping American families achieve a debt free life! 
We can help you consolidate debt and lower your monthly payments,
save thousands on interest rates and stop collectors phone calls.

 

Lower My Bills Debt Consolidation 
Get Matched with the Right Debt Solution for You!

• Answer the quick questions in our 2-minute Debt Wizard

• Receive a customized Debt Relief recommendation

• Get matched with up to 3 approved Debt Relief companies
 and receive your free  consultation and no-obligation savings quote


 




 

 

 

 

 

 

Consumers Info USA does not make the loans or provide the services.
 For over 10 years we connect the best companies with the people who need them
.
We Help People with Bad Credit!

 

 

 

 

Consumers Info USA
12388 Warwick Blvd
Suite 301D     
Newport News VA 23606

 

 


SIGN UP FOR
OUR FREE


CreditAssist
Help Tips


More than just another Ezine Newsletter...

As a member you will receive Free Tips, Helpful Hints, and Real World Advice that people are using to improve their daily lives!

Personal finance tips, credit advice, credit repair, tips on buying a used car, buying a home, and saving money.

 

Also... things that people are doing to make extra money... and more!

This is information that
will benefit you!


 Approximately once every 7 to 10 days you will receive the latest edition of 

CreditAssist
Help Tips.


Simply enter your
Email & Name,
and click Submit to begin 

CreditAssist
Help Tips.

 You will always be able to unsubscribe at anytime!

Your email address is strictly confidential and will not be used for any other reason.

As our way of saying "Thanks for Subscribing"
You will receive
 absolutely FREE

Understanding 
your
Credit



Many people simply were never taught the basics of credit and how credit works!

Credit card companies… interest rates… effects of late payments, bankruptcy, foreclosure, car repossession,
 student loans… etc.


Understanding
your
Credit
will provide you with all this
…and more.


It currently sells elsewhere online for $29.99 But you will receive it as a free gift!
 

Get your FREE
Copy Now

Email:
Name:

THANK YOU for visiting BadcreditAssistance.com  (c) Copyright 1999-2008