Educate Yourself

Credit Consolidation Services

Credit consolidation services help people get out of debt much faster and for less monthly and overall cost. The first step in the process is to get a consultation about the types of programs that you can benefit from. To get started, follow this link for a free consultation. During your consultation, you can get a firm quote on how much you will can save by using a credit consolidation service, so it is best to have an idea of who you owe and what your current balance is.

If you are looking for help reducing your debt, lowering your monthly payments, and paying off your debt quickly, you've come to the right place. Each month you wait to take action you lose hundreds more in finance charges. Stop delaying and start right now!

Types of Credit Consolidation Services

There are two main types of credit consolidation services – credit counseling and debt settlement. These two options are very different from each other and are even more different than credit consolidation loans.

Credit Counseling Services

Credit counseling is a type of debt relief service, usually offered by non-profits, that is focused on helping people become debt free by through education, budget counseling, and in some cases, through debt management plans. A debt management plan (DMP) is offered in cases where a consumer is experiencing a hardship that is preventing them from paying off their debts without a reasonable reduction in their interest rates. Most debt management plans are able to reduce a person's interest rates to 9%, though it varies depending on the policies of your credit card companies, and help you get out of debt in 4 to 5 years.

Debt Settlement Services

Debt settlement is another type of debt relief service that aims to help people get out of debt through negotiations with their creditors to accept payment of less than the full balance. Creditors are willing to accept such an arrangement when a consumer is behind on their payments – "something is better than nothing" is the philosophy behind it. Due to this fact, a person's credit will likely be impaired as a result of enrolling a debt settlement plan. That said, of all the credit consolidation programs available to consumers it has the least total cost, the lowest monthly payment, and the shortest time frame for becoming debt free.

Credit Consolidation Loans

Unlike debt settlement and credit counseling, credit consolidation loans do not involve third-party negotiating on your behalf to get interest rate concessions or balance reductions with your creditors. Instead the purpose of these loans is to pay off multiple debts you have, and in turn, you only pay back the loan you borrowed. Usually these loans have a lower interest rate than the debts it is intended to pay off, the payments are lower, and the overall cost for getting out of debt is less.

How Our Website Can Help You

The primary way our website can help you is by matching you with pre-approved credit consolidation companies. To get a free consultation from one of these companies, simply submit a form and you'll get a call within 30 minutes if it is normal business hours.

The second way you can use our website is to educate yourself about debt, credit scores, budgeting and using companies for help with your debt. Our main articles are:

Additional articles

A brief guide to bankruptcy - Learn about what it is, the differences between Chapter 7 and Chapter 13 and more.
Alternative financial services and your credit – Read about cash-checking services, pawn shops, payday loans and other types of financing outside of the traditional banking system.
How budgeting works – Read about what works and what fails when it comes to budgeting. Get tips on creating a budget to help you get out of debt.
The do-it-yourself approach to cutting credit card debt – Get advice about how to get out of debt without using a credit consolidation service.