What is Debt Consolidation and How Can it Help Me Manage My Finances and Reduce the Total Amount of Debt I Have?
Debt consolidation is the process of taking out a new loan to pay off all your other debts. Debt consolidation loans are also known as debt relief loans or debt repayment loans. The idea behind debt consolidation is that you take out a new loan and use it to pay off all your other debts. This means that you will only have one monthly payment instead of many, which will make it easier for you to keep up with the payments.
Debt consolidation works by consolidating all of your unsecured debts into one monthly payment with an interest rate that is lower than the combined interest rates on individual debts. This can be done by taking out a new personal loan, home equity line of credit, or credit card balance transfer offer.
Debt consolidation is one strategy of a professional debt relief program that is set up to provide individuals the opportunity to alleviate their debt burden. It typically takes two steps for a debtor to draw up a repayment plan.
The first step involves consolidating the unpaid balances of all loans in order to create one new loan with a single monthly payment. The second step is making payments (on time) as agreed, which will free you of your debts in 10 years on average, depending on file times and interest rates.
Debt relief might be the best strategy if you have high-interest debt that is more expensive than it needs to be: alternative lower interest rates available, or if your financial situation will greatly improve after a few years while consolidating.
If you have multiple credit cards, it can be difficult to keep track of how much money you are spending and when your next payment is due. Debt consolidation helps by combining all your debts into one monthly payment. This makes it easier for you to manage your debt and avoid late fees.
Debt Consolidation now makes a lot of sense for hundreds of thousands of Americans and can save millions of dollars for US consumers that are in serious debt. If you possess the discipline and financial resources to accomplish debt consolidation independently, we encourage you to get started on your self-help debt relief strategy today. Should you prefer to evaluate your professional debt relief options and become debt free – while saving money and time through Debt Consolidation and Debt Settlement; you’ve come to the right place.
We teach consumers about credit and finances while also providing self-help tools for budgeting and other techniques for debt relief. Our objective at National Debt Law is to assist individuals and families with all aspects of their credit and debt. Debt management programs can get you out of debt and end your financial stress.
Based in NYC, National Debt Law is a proven successful and reputable debt relief company made up of a diverse group of energetic, smart, and hard-working individuals that take a professional team approach.
That’s why we say, “We Do Better When YOU Do Debt Better“.
Our skills, experience, and tenacity has helped thousands of Americans resolve debt problems and find debt relief by helping our customers through a tough financial time in their lives. We specialize in reducing the balances on credit card debts, medical bills, repossessions, certain business debts, and other unsecured debt obligations. We also work diligently to ensure your creditors don’t harass you at your home or place of business.
We provide comprehensive debt relief services and we fight for our clients through debt negotiation. Once you enroll in our debt relief program, it’s not just you versus your creditors. We’re debt relief professionals ready to help you get out of debt and back to managing your life. You not alone anymore. Our friendly customer service representatives are always ready to answer your questions or listen to your concerns.
Debt relief can help you to find a way out of your debt and avoid bankruptcy.
It is important to know the difference between debt relief and bankruptcy. Debt relief is for those who are in financial distress but are not interested in, or yet eligible for bankruptcy. Debt Relief vs Bankruptcy:
Debt relief is for those who are in financial distress but are not yet eligible for bankruptcy. Bankruptcy, on the other hand, will eliminate all of your debts at once and can be a good option if you have too many debts and cannot repay them. However, it will stay on your credit report for 10 years so it may affect your ability to get loans or credit cards in the future.
National Debt Law debt relief services can help you if you are struggling to pay your bills or if you have been unable to pay them for more than 90 days. Debt Relief can help people who have not been able to keep up with their monthly payments, as well as people who are late on payments and those who have missed payments altogether.
Debt Relief is a very popular option for people of all income levels. The process is similar for everyone, but the amount of money debt relief saves someone varies depending on how much they owe and their income level.
National Debt Law’s debt relief program’s cost and value can be explained with a simple math equation. If a person owes $20,000, our fee would be $5000. However, if (when) we are able to reduce that $20,000 debt to $10,000, that person would pay our 25% fee and still come out ahead by $5000, and be completely debt-free.
The National Debt Relief program to settle your debts can actually cost you less than if you pay off credit card debts yourself over a five-year period. If you owed $10,000 at 15% and your goal was to become debt free and assuming your monthly payment was $225 you would not be debt-free for 5 years, and you would have paid $4688 in interest. In comparison, if we were to handle that $10,000 debt with a 20% fee it would cost you just $2000 or $2688 less than if you were to pay off that credit card debt yourself.
National Debt Law charge a performance-based fee for our comprehensive debt relief and negotiation services. Fees that can be legally charged vary by state, and, the amount of your debt. Our fees range between 15% and 25%. When you compare these fees to the thousands of dollars in interest you will pay on credit cards while struggling to pay them off, you can still expect to save a significant amount of money with National Debt Law.
All program fees are included in your Dedicated Savings Account deposit. We earn nothing for our work until we’ve achieved the results that you want and have previously agreed upon when signing up for the program.
We Do Better When YOU Do Debt Better
The best way to deal with debt and stress is to take action as soon as possible. This will help you avoid the snowball effect that both problems have on each other.