subject: Debt Consolidation Relief - How It Can Eliminate Your Multiple Payments? [print this page] Debt Consolidation Relief - How It Can Eliminate Your Multiple Payments?
Are you a victim of multiple debts? Getting several collection calls per day? Threatening notices from every establishment? No wonder you are out of your mind. If you are thinking which one to pay first, and you cannot choose one, the only remedy for you is a debt consolidation program. Filing a bankruptcy case once you are depressed with a pile of debt left behind is an out dated option. At present, no one files a bankruptcy case, because the consumers are better educated and at the same time the government also knows the reason behind this extreme growth of credit card defaulters.
The main advantage of a debt consolidation program lies on its convenience. Under this program, the debtors can consolidate several credit card bills into a single loan. It avoids the need of paying multiple monthly payments with multiple interests. Like in debt settlement the consumers do not receive discounts in this program, instead they receive a reduced interest rate.
This is how you get a reduced interest rate- imagine that you handle three different credit cards bills with three different interest rates.
(20% + 15% + 12%) / 3 = 15% (after consolidating your debts, 15% becomes your fixed interest rate)
Is not it advantageous? In an indirect way it saves you an amount of money which could be wasted if you paid your original interests. Besides that advantage, the company gives you financial literacy to handle your future expenses in a more precise way. These programs include Consumer Credit Counseling courses under which the consumers are made aware of keeping themselves away from incurring debts. Further, the recently passed bankruptcy laws show credit counseling as a pre requisite for a bankruptcy request.
However, the success of the whole program depends on the company you choose. In case if you are trapped to a fake company, your position will be the worst. Therefore, be vigilant and regulate your research in free debt relief help network.
Finding legitimate debt settlement companies is very important. Unfortunately there are predatory debt settlement companies on the market so consumers need to know how to find legitimate services. To locate the top performing debt settlement companies in your state check out the following link:
