The Infographic Archives

6 Stats on America’s Debt Problem

Posted By: Jordan Grimmer | October 8, 2015 | 0 Comment(s)

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 […]

5 Simple Facts about Student Debt [INFOGRAPHIC]

Posted By: Jordan Grimmer | September 14, 2015 | 0 Comment(s)

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, […]

Tax Relief Stats [INFOGRAPHIC]

Posted By: Jordan Grimmer | September 9, 2015 | 1 Comment(s)

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 […]

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.

See Top Settlement Companies See Top Consolidation Companies See Top Personal Loan Companies

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