Best Debt Companys

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The Debt Help Blog

Discussing debt management tips, news, and other knowledge nuggets from our experts.

Posted By:  |  June 30, 2016

You probably realize that collection agents will explore all available resources when attempting to track down delinquent individuals. Hopefully, this is not a process that you frequently have to endure, […]

Posted By:  |  June 26, 2016

What Is Debt Consolidation? One of the best ways to regain control of your finances is to try debt consolidation. Debt consolidation is for those who are making unsecured payments […]

Posted By:  |  June 22, 2016

The obvious consequence to being in debt is having less money. Each month, you have to budget for the minimum credit card payments on every credit card you own (and if you can, […]

Posted By:  |  June 21, 2016

When we were children, we believed a number of tall tales and myths which eventually proved to be ridiculous and untrue. The concept of magical realism is not lost on […]

Posted By:  |  June 20, 2016

Credit card debt typically has a higher interest rate than automobile, or home loans, so racking up this kind of debt can cause serious financial strain. ReadyForZero teaches that to […]

Posted By:  |  June 15, 2016

Generally speaking, you would expect that any decision handed down as part of a legal judgment or settlement applies to everything on paper. After all, receiving defined parameters regarding your […]

Posted By:  |  June 13, 2016

Why do people start down the path of debt? We asked this same question to people on our site (who have an average debt of $25k-50k) to see what the […]

Posted By:  |  June 13, 2016

For a variety of reasons, average household and national debt is on the rise. Growing unemployment rates and staggering income wages can’t keep up with the rising living, medical, transportation, […]

Posted By:  |  June 13, 2016

There are a lot of different kinds of debt, but the most types common are: credit card debt, student loans, automobile loans, and living costs (mortgages). America is not exactly […]

Posted By:  |  June 8, 2016

If there was a way for you to avoid filing and paying taxes or interacting with the IRS, it’s fair to say you’d want to know all about it. Unfortunately, […]

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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