How to Consolidate Finances

Here we'll explain how debt consolidation works to consolidate finances. We'll also tell you more about our services and how they can help you.

Debt Consolidation

Debt consolidation is the best way to consolidate finances and get out of debt quickly. Debt consolidation involves paying off your many, high-interest debts with a consolidation loan. You then make payments on this loan to an accredited non-profit company that will divide your payment up among your creditors. Debt consolidation is ideal for those who have unsecured debts with many creditors because it can consolidate finances into one, convenient loan. You will also get to select the date on which your consolidation payment is due, which maximizes convenience for you.

Benefits of Debt Consolidation

Debt consolidation can provide a wealth of benefits to you and help you consolidate finances. Here are a few things you can expect from debt consolidation:

• Interest rates reduced to an average of 0%-8%
• Pay off your debt in about 36-60 months (on average)
• Your creditors always get paid on time
• Automatic withdrawals from your checking or savings account
• One payment due date of your choosing
• Reduce your monthly payments by as much as 50%
• Support available from non-profit company 24/7

Consolidate Finances with Debt Settlement

In addition to debt consolidation, we offer a service called debt settlement that also helps people consolidate finances. Debt settlement is meant for people with large amounts of debt, usually over $20,000. If you are over your head in debt or in danger of bankruptcy, debt settlement can consolidate finances to give you a way out. With debt settlement, you actually stop paying your creditors for a time while we negotiate with them to get your debt reduced. During this negotiation period, you will begin making payments into an account set up for this purpose. Once the negotiations conclude and your creditors have reduced your debt, we take the money you've deposited in the account to pay off your debt. You then become debt-free. Debt settlement does have an initially negative effect on your credit because it requires that you stop paying your creditors for a certain time. However, the blemishes left on your credit are fixable, whereas the damage done by bankruptcy or charge-offs is far more permanent. For helpful tips on financial management, see our Manage Your Finances page.

Things you need to know