Best Debt Companys

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Posted By:  |  August 4, 2014

Financing higher education is coming to a critical crossroads. The crossroads that so picturesquely stitch together the landscape in coal country saw many weary miners in a trudge to build […]

Posted By:  |  June 24, 2014

A Survey of Consumer Finances (SCF), administered by the Federal Reserve Board, has yielded some circumspect observations. The analysis discussed here bucks the trend of recent headlines braying over the […]

Posted By:  |  June 23, 2014

Frank Keating, current president of the American Bankers Association (ABA ), has weighed in on two sectors of banking – the economy that continues to grate on home owners, and […]

Posted By:  |  June 20, 2014

Beginning July 1st, graduates who defaulted on their Federal student loans will have a chance to redeem themselves, get back on track and even heal any damage already suffered on […]

Posted By:  |  June 18, 2014

The rate of default is driving up the cost of student loans for some colleges. Default rates two years out from graduation range from 12.4% to 37% and higher in […]

Posted By:  |  June 18, 2014

The 1.2 trillion dollars in debt owed by baccalaureate students of the last decade may prove to be a drag on the economy, according to MSN. This is especially true […]

Posted By:  |  June 18, 2014

Women graduates in 2001 paid 11% of their income toward paying off their student loans one year after graduation, according to a recent Washington Post article. In 2009, women were […]

Posted By:  |  June 17, 2014

Bankrate.com  6-14-14 Keeping 15 to 20 percent of your equity even after cashing out is a good thing. Though regulation has not changed since the financial crisis of 2008, lender practices […]

Posted By:  |  June 10, 2014

At least 25 million former students who struggle to pay a monthly student loan debt might appreciate a new bill signed by President Obama today. The memorandum is intended to […]

Posted By:  |  June 9, 2014

A recent article posted on “Quartz” (qz.com) written by Matt Phillips announces that Americans are busting out the credit cards more frequently once again after a significant dip in credit […]

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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