When dealing with sensitive financial information, it's important to choose a debt consolidation company that will protect your information and keep your data private.Make sure you ask about a company’s information security before giving them your information.If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.You borrow enough money to pay off all your current debts and owe money to just one lender.Friedberg taught Finance and Investments at several universities. In addition to helping you with debt relief, many companies offer information and assistance with setting up a savings plan.Find out if your debt counselor can help you create a savings plan to stay out of debt in the future, and make sure to review important information before agreeing to a savings plan.There are a wide variety of debt management programs.
Before you choose a debt consolidation loan think about anything that might happen in the future which could stop you keeping up with repayments.
Flat 18% fee based on amount of debt owed at time of enrollment. Country Wide Debt Relief has several options for debt relief, including debt settlement, debt consolidation and consumer credit counseling services. Average monthly fee is about , and no fee is charged until debts are settled. Average debt reduction is around 47% with debts settled in three years or less depending on the pace at which the program is funded.
Offers credit counseling, debt consolidation and housing counseling. Settlement percentages average between 40%-60% of original debt. They help people facing financial hardships, including people facing bankruptcy. Fees range from 14%-20% based on the amount of debt at enrollment. No upfront payments and no fees until a debt settlement is reached, which typically takes 24-48 months. Before consolidating debt, the consumer should find a reputable credit counseling organization for advice on money management and debt relief.
You should get free debt advice before taking out a debt consolidation loan.
A better option might be a 0% or low-interest balance transfer card.