Debt Consolidation Programs

Debt Consolidation Plans are for credit cards, medical bills, unsecured loans and/or collections accounts. (No secured debts can be included. This includes house, or car payments, and any loans or accounts with collateral attached).

Only consumers having difficulty meeting monthly payment requirements or are unable to reduce their balances should apply. Debt Consolidation Programs can also benefit an individual who is current on his or her accounts. While this person may be currently meeting his or her monthly payments, it may be a continual struggle to do so. Debt consolidation is not appropriate for consumers who are shopping for a better interest rate.

The Debt Consolidation Plan may reduce or eliminate interest rates as well as stop late and over-limit fees. This program may also reduce a consumer's overall monthly payment. Interest rates will vary depending on the creditors, but are usually around 2 to 9% and sometimes eliminated.

The Debt Consolidation Plan can help the person improve their credit, as many creditors will report the account current after they receive three consecutive program payments, and they will reduce the total debt owed since more of their monthly payment will go towards principal and not interest rates.

The Debt Consolidation Programs offer several benefits to consumers:

• Make a consistent payment each month throughout the program
• Able to repay the outstanding balance faster. Typically becoming debt free within 12-36 months.
• Once set up into a Debt Consolidation Plan, collection activity on an account will stop.
• Save Thousands of Dollars with a lower fixed simple interest payment.