|
Debt Consolidation: Program Steps
1. Your specialized counselor will
review your budget information and suggest one of
our debt management programs.
2. After deciding which program will
be the most beneficial, you will decide when you will
be making your first payment to the debt reduction
program you select. You will have one easy date that
will be your payment date every month. There will
be no more different due dates to remember or budget
for!
3. If after discussing your financial
situation with your counselor you decide to enroll
in the debt management program, the debt consolidation
organization will contact your creditors and negotiate
with them to have your monthly payments lowered and
your interest rates reduced. You then simply send
one reduced monthly payment to the debt consolidation
organization you have selected and they distribute
the funds to your creditors on your behalf. You will
still receive your monthly statements, so you will
see your balances dropping. If any of your creditors
contact you, you can direct them to your debt consolidation
organization. You'll be assigned a personal account
specialist to deal with any questions or situations
that may arise.
4. Simply keep making your monthly
payments on time and you will be on the road to a
better credit rating, stable finances and eliminating
your debt! (The initial repayment plan is subject
to adjustment based on creditors' individual requirements;
your debt reduction organization will notify you
when more payment may be required to satisfy creditor's
needs).
Results
As a result of the benefits of your debt consolidation
plan, you will be able
to pay off your debt in much less time than you
could on your own. And by the way, did you know that
if you are making only minimum payments on a credit
card, an $8,000 debt at a rate of 18% interest
will take you over 25 years to repay and cost you
over $24,000?
The debt consolidation program is also designed to provide
you with easily accessible help and guidance. Professional
debt counselors are available to
handle harassing phone calls from creditors,
assist you with legal situations and teach
you how to handle credit in the future. Counselors
also make budgeting suggestions so that you
can save more money each month and spend
your earnings more efficiently.
Do you think you'd be better off declaring
bankruptcy?
Please talk to
a professional debt counselor if you are considering
bankruptcy to find out about the alternatives, and
how debt consolidation can help save you those
court costs and the loss of precious assets. Debt consolidation
can direct you to bankruptcy assistance if that is
the best solution for your specific situation.
|
