How A Debt Counseling Service Works With Creditors

There are two ways to consolidate your debt. One is taking out a loan and paying it all off leaving you with only one payment to make each month. If this is what you are looking for then you need to contact a bank or other lending institution. The other way is how we consolidate your debt. We do not make loans what we can do is to consolidate your debt into one monthly payment and work with creditors to lower interest rates, try to eliminate some fees and other types of charges In an attempt to make it easier for you to actually pay off the debt.

We contact creditors requesting a conference to discuss your bill and how best to proceed with paying it. We negotiate the best terms possible so that you most times you do receive a deduction in the amount of interest you will have to pay on it. We advise you to not make any new charges or open any other accounts during this time since it may mean that your creditors might demand payment in full. This is written into the initial contract. Non profit debt counseling

Most Debt Counseling programs take up to seven years to complete but remember the more you can pay in the sooner you get free of the debts. The time of the plan is determined by how much unsecured debt you have and how much you can pay each month. Once we talk with all of the creditors, we know what they want per month and when the payment dates are. We add these amounts together to come up with your monthly payment amount. There is a initial fee and there is the monthly maintenance fee that is usually 1-3% of the monthly payment amount. Click Here to get a free debt consolidation quote!

Our service works through several licensed and bonded non profit consumer debt counseling agencies. We also have great relationships with several mortgage companies, loan companies and credit repair services. If you are here you should give yourself a hand because you are about to take one of the most important steps toward saving your future that there is, getting control of your debt. Once you have gotten the debts cleared stay with us, we will also show you where to go to get your credit repaired. Debt Consolidation Forums

If your objective is to get out of debt, we will be here to help you every step of the way. Its your money and we will help you learn to control it so it works for you.