Best Debt Companys

162 Companies 3,962 Real Customer Reviews

Posts By: Jordan Grimmer

Jordan Grimmer is the head content manager, editor, and writer at bestcompany.com. He oversees all on-site content production, the bestcompany.com Medium page, as well as his own personal blog. You can follow Jordan on Twitter.

Posted By:  |  April 29, 2016

What Is Student Loan Consolidation?   Consolidation is the process of combining multiple loans into a single loan at a fixed rate. This rate is calculated using the weighted average […]

Posted By:  |  January 13, 2016

With the next drawing for the now $1.5 billion Powerball Lottery scheduled for tonight (Jan. 13, 2016), millions of people across the country are buying up lottery tickets like it’s going […]

Posted By:  |  December 9, 2015

With a little over two weeks remaining before Christmas, holiday shopping – whether in-store or online – has exploded. The year 2015 has already embarked on a record-setting pace for […]

Posted By:  |  November 11, 2015

It’s that time of year again! A time for reconnecting with family and friends, for giving, for snowmen and hot chocolate, and for presents! It’s the holiday season, and for […]

Posted By:  |  October 8, 2015

It should come as no surprise that America is facing a massive consumer debt problem; however, not every statistic on America’s debt problem is necessarily bad. In fact, many Americans […]

Posted By:  |  September 30, 2015

Editor’s Note: We are excited to announce the maiden voyage of The TBC Podcast, our informational blog designed to help everyday consumers make smarter decisions with their money! For this […]

Posted By:  |  September 14, 2015

At $1.2 trillion, student debt has surpassed credit card debt and car loans, and is nearly eclipsing mortgage debt as the leading cause of debt in America. As a result, […]

Posted By:  |  September 9, 2015

When you owe a friend money, he can hold a grudge, take you to court, or give you a noogie until you finally pay up (of course, if it comes […]

Poll

  • How important is it to you for a debt consolidation company to offer financial education resources?
  • Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
  • Negotiates with your creditors on your behalf.
  • Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
  • Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
  • Combines all your debts and creditors into one monthly payment.
  • Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
  • You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
  • Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
  • Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
  • Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
  • Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
  • Borrowers can receive funds from their loan within only a few days.

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