Consolidating debts have more money pay need
The goal of consolidation is to have a lower payment at a lower interest rate than you currently have.
It can be confusing because debt consolidation is also used to refer to debt settlement programs as well.
Debt Management Program: These programs often work hand in hand with credit counseling.
During this program, you receive financial counseling and meet with a financial advisor.
In addition to putting your home at risk, many consumers end up prolonging their debt.
Additionally, the debt management company contacts your creditors and attempts to negotiate lower interest rates on your behalf.
Lower interest rates allow you to more quickly pay off your debts.
Accredited Debt Relief is an affiliate and offers the same programs.
Debt Consolidation is worth looking at if you have at least ,500 of debt.
Debt Consolidation: Consolidation is the process of combining all your debts into a single, lower payment by taking out a loan to pay off your creditors.