One of the most popular ways to pay off your debts is through debt consolidation loans, but is using another loan the best way to deal with unsecured credit card debts?
There is no "one size fits all" approach to paying off your debts. Everyone's situation is unique, but luckily your creditors understand this. As a result, they can actually be very flexible when it comes to negotiating how much you can pay them each month. For them, the most important thing is that they do get paid, even if it means they receive that money slowly.
Consolidation loans involve taking all of your outstanding debts and grouping them together into one larger loan amount. Once this is done, the lender will work with you to see what kind of monthly fee you can afford to pay on this new loan, while ensuring that you have enough of your paycheck left over to be able to live your life comfortably. Consolidation loans are one of the most popular and effective ways to clear up outstanding debts, as they offer three key advantages:
1- A chance to pay off all your debts for good and get back to living a debt-free life.
2- Lower interest rates and lower payments than higher interest cards.
3- Possibly an improved credit score.
The main problem with consolidation loans is that they take your unsecured credit card debts and combine them into a secured loan. The lender is not going to give you the loan if your credit is not great, and if they do lend you the money, they will want your home as collateral. Do you really want to risk losing your home over some credit card debts if something happens to your income in the future? There could be a job loss or sickness that no-one could see coming and now you could lose your home as well? Just not worth risking your home to pay off the credit card loan sharks.
One of the most convincing reasons to sign up with a debt consolidation or settlement program is that they offer a genuine opportunity to become debt free once and for all. With debt consolidation, we can help you to negotiate a payment plan with your creditors that you can easily afford. Instead of paying off multiple bills each month, you only have to make one affordable payment each month. As long as you meet these payments, your debt will gradually decrease until the day comes when it's finally cleared, leaving you completely free of debt once and for all and able to start dreaming of a better, financially secure life.
Getting clear of debt is not the only concern of many debtors. A good credit score is essential in this day and age if you want to be in a position to buy a home or a car, and this is something that debt consolidation can help with.
By gradually paying off your loans and credit card debts, your credit score is guaranteed to improve. As your debts are settled one by one, your credit rating will receive a big boost each and every time, until finally the day comes when you are totally debt free and your credit score is as healthy as it ever was! With a great credit rating, once again you will be in a strong position to be able to secure a mortgage or a loan, and what's more you'll be able to secure these at favorable interest rates. Having a good credit rating can even improve your employment prospects too, as many employers insist on a credit check before hiring these days.
Along with consolidating your debts and seeing a marked improvement in your credit score, you will also be entitled to receive debt counseling when you sign up. With this, you will receive expert guidance from professional counselors on how to manage your finances so that you don't fall back into debt. One of the biggest reasons we get into debt is through frivolous spending habits, like using our credit card to pay for day-to-day expenses. Once you learn how to modify your spending habits, you'll learn how to avoid debts and continue enjoying a debt-free lifestyle. This counseling service is provided free of charge, hence debt consolidation is the only true solution for those people looking to clear their debts, boost their credit score and learn how to stay debt free!
When you sign up for a FREE DEBT CONSULTATION with us, we commit ourselves to helping you get out of debt, once and for all. You don't need to borrow more money through debt consolidation loans to get out of debt (NEVER do that!), and you don't need to keep avoiding your creditors. What you need to do is to talk to one of our expert financial consultants today! We can look at your finances, your income and your outgoings, and from there we'll help you to come up with a workable solution to help you pay off what you owe.
We can negotiate with creditors on your behalf to reduce your monthly debt payments to a level that you can easily afford - what easier solution could there be?