Non-profit debt consolidation programs are the way to go if you have debt problems and need to fix them quickly. Sometimes, debt piles up due to unforeseen circumstances – medical bills, car troubles, emergency home repairs or family emergencies. If just making the minimum payments concerns you because of the time it will take to pay off your debts, consider debt consolidation.
A debt consolidation service will significantly reduce the amount of time it will take you to pay off your debts. You can also save thousands of dollars in interest fees by consulting with non-profit debt consolidation programs. All you have to do is get started.
How Debt Consolidation Works
Debt consolidation can help you get out of debt save you money because of the unique nature of the service. They will use their clout to negotiate with creditors to lower your interest rates, waive fees and reduce minimum monthly payments. On top of that, they will pay all of your outstanding personal loans and credit cards on time. All you have to do is pay the consolidation provider an affordable payment every month. This ensures that not only will you not miss a payment, but your credit score will go up, making you eligible for even lower interest rates over time.
Debt Consolidation and Credit Counseling
In addition to giving you the immediate relief that comes with lowering your debt service payments, non-profit debt consolidation programs like CreditGuard of America also help you get out of debt by providing credit counseling. A counselor will sit with you, go over your financial situation and help you construct a budget outlining your monthly expenditures. Your counselor will show you where your money is going and give you practical tips for how to be more frugal and live within your means.
Credit counselors will also help you learn how to read the fine print in credit card offers. While ideally you will not need to use credit cards, you should also be able to tell the difference between offers you can temporarily afford and ones that you should run away from at all costs.
Consolidation and credit counseling are two sides of the service provided by non-profit debt consolidation programs. These programs offer you a way to get out of debt and stay out of debt. As long as you follow their suggestions, you will be in good financial shape.read more