About Debt Consolidation

About Debt Consolidation

There are many ways to get out of debt and reach your goal of financial freedom.  It’s the way you go about it that makes the difference.  Which ways offer the most benefits and get you debt free the quickest is what’s important. Which way is that?  Debt Consolidation!

Debt Consolidation is a more general term for two primary services. Debt Management and Debt Settlement.

These programs have the same goals but different benefits. Both programs will get you out of debt usually within 18-36 months. But it’s your personal financial situation and goals that will help determine which program is best for you.

Some of the benefits these programs may offer are:

*Lower monthly payments

*Reduce interest rates

*Wave late fees

*Reduce balances 40% - 60%

*Eliminate creditor/collection calls

*One monthly payment

*Debt free 18-36 months
 

What can you expect from the companies offering Debt Management or Debt Settlement?

Typically you should receive a no obligation, no fee debt counseling session.  With this session the debt counselor will listen to and evaluate your financial situation. Next they’ll show you how much you can save in a debt Management or debt settlement program compared to what you may be doing now. At that point you if find there to be a financial benefit in Debt Management or Debt settlement then it may be a good idea to consider enrolling in the program that best suit your needs.

Depending on the company you contact you may also receive online access to personalize your monthly budget and to monitor any positive or negative changes in your credit report. Along with that you may also be provided 24/7 fraud monitoring on your accounts with identity theft insurance.