IS DEBT CONSOLIDATION FOR YOU?

Some list these as advantages to Debt Consolidation...

·         Debt Consolidation is an action plan to help get you out of debt in a fraction of the time it would otherwise take making your minimum monthly payments, usually in approximately 42 months

·         Consolidate your payments into one low monthly payment and reduce the stress and cost of multiple bills. Pay all your debts with one simple step & free up your weekends!

·         Rebuild or maintain your good credit through this program. If you are struggling with your payments, you are probably damaging your credit. Consistent payments in our program can rebuild a good credit history with your creditors. Some collection accounts may even be brought  back to the original creditor!

·         Have financial experts help you reach your goals. Our financial counselors will help you analyze your current situation to find the best way to pay off your debt, and give you the tools to begin achieving your future goals of home ownership and/or building funds for college or retirement.

-----The Reverse Side-----

Should you apply for a consolidation loan?

The answer to this question is NO.  If you are already knee deep in debt with a bad credit rating the last thing you want is a consolidation loan.  If you use a consolidation loan to pay off your debt you will be left with the temptation of cleared off credit cards.  This is the most dangerous thing that you can do to your credit health.  What we recommend is a consolidation plan such as the Debt Slasher  which is a consumer credit counseling service.  The way the plan works is that they collect bulk payments from you and use them to pay off each of your creditors.  They have agreements with creditors that either eliminate or significantly reduce the interest rate.  By reducing the interest your pay off time will be drastically cut which will result in sizeable savings.  The creditors usually require you to agree to close the accounts once they are paid off.  Remember, you can't borrow your way out of debt!

For more information refer to the links to left under Credit Restoration heading.