Mortgage debt consolidating finance companies

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That's where debt consolidation and other financial options come in.Consolidate Your Debt Now Debt consolidation is combining several unsecured debts — credit cards, medical bills, personal loans, payday loans, etc. Instead of having to write checks to 5–10 creditors every month, you consolidate bills into one payment, and write one check.Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.

While it’s not as drastic as debt settlement or debt management, debt consolidation has its own pitfalls that you need to be aware of.

Myth: Debt consolidation saves interest, and there’s one smaller payment.

Truth: Debt consolidation is dangerous because it only treats the symptom.

This helps eliminate mistakes that result in penalties like incorrect amount or late payments.

There are three major types of debt consolidation: Debt Management Plans, Debt Consolidation Loans and Debt Settlement.

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