The Uncategorized Archives
It is a widely accepted belief that some of the most well known Universities, including those in the Ivy League sector, are ones guaranteeing a top-notch salary after graduation; however, […]
Roughly 25 years ago policy makers strongly encouraged hopeful youth to take out large loans to cover the rising cost of higher education, making bold statements that these borrowers will […]
BestDebtCompanys.com (BDC) released a new survey about why people choose not to work with debt settlement companies to lower their overall debt. This survey provides a look at the variety […]
The team at BestDebtCompanys.com (BDC) recently released a new survey about the different types of services Tax Relief companies provides. This survey was created to get a better idea of […]
Paying back your debt is not an easy task, let alone trying to understand which debt solution is right for you. Debt resolution companies seem to be everywhere and are […]
When looking for a way out of debt, there are many misconceptions about which type of debt qualifies for relief. It is important to understand the differences between the types […]
With the average national student debt closing in on $1.2 trillion, and the average student owing about $30,000, it’s clear that student debt is a problem that isn’t going away. […]
Debt is a topic not normally discussed casually. It’s an issue people don’t bring up willingly or with ease. It can cause embarrassment and denial even among closest friends and […]
BestDebtCompanys.com released a new survey concerning the amount of debt people accumulate before seeking professional help. This is first survey released this year for BestDebtCompanys.com. The BDC team wanted to […]
Paying off credit card debt is a daunting task, but can be done with the right amount of determination. Here are five simple steps to help pay off credit card […]
- 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.
Read full articleRecently Reviewed:
Trending Blog Post:
