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Bankruptcy. Very popular in today's economy. Over a million people file for bankruptcy each and every year. Would you like to learn more about bankruptcy? Why most people think it's an option of last resort when it can actually be considered as an option of first resort?
How do all of your options stack up against bankruptcy? Sometimes bankruptcy makes a lot of sense. Click any one of the topics that are most popular and a little sub menu will open up and you'll see the forum section. Click a forum, go right there, and you'll find where information is being shared every minute here on our website. So you can learn what other people are doing, how they're navigating and even some of our moderators and experts learn from them as well.
We've put together so many tools here at DebtCC for you to embrace, use, get results. We've got calculators. We know for every question there's an answer, for every problem there's a solution and we've got access to both.
It is a way to manage your multiple debts efficiently. By consolidating debt, you can repay the outstanding balances at a relatively lower rate of interest and with the help of single monthly payments.
Debt consolidation is good for those people who are unable to pay off credit card debts, personal loans, payday loans, private student loans and medical debts due to costly financial mistakes. This debt relief option is good for those who want to pay off unpaid debts, manage multiple bills efficiently, pay less on interest rates and save money. Know more about its pros and cons...
Let us see this example to know how debt consolidation would work for you.
Your total credit card debt (20%) - $25,000
Your outstanding balance on a payday loan (10%) - $15,000
Your outstanding balance on a personal loan (15%) - $20,000
So, your average interest rate (20% + 10% + 15%)/3 = 15%
After you consolidate your debts, your interest rates are lowered to:
Credit card - 15%
Payday loan - 8%
Personal loan - 10%
So, the new interest rate is (15% + 8% + 10%)/3 = 11%
This implies you're paying 4% less on the interest rate.
If your total debt is $ 60,000, then you'll save (4% * 60000) = $2400.
It is a bit difficult to take out a debt/bill consolidation loan with a bad credit record. So, it will be better if you look for other options to consolidate your credit card debt along with other unsecured debts in your state. It will be helpful for you to know if there are any specific laws about payday loans and how to deal with other unsecured debts.
This option can help you take control of your financial life by paying a reduced amount up front.
Through this option, you can replace your multiple bill payments with a single low monthly payment.
This is where the experienced counselors of a debt relief company help you organize an easy and budget-friendly single monthly payment plan. With this option, you replace your multiple credit cards and other bills with a single monthly payment. It helps you pay off your debts within a certain period.Read more...
This is where you take out a personal loan from a financial institution, such as a bank, to pay off your multiple creditors immediately. Through this loan consolidation option, you make one consolidated low monthly payment on the new loan. You can obtain this loan with easy terms if you have a good credit score.Read more...
This is where you can consolidate your multiple payday loan debts with a simple payment plan at a low-interest rate. You don't have to pay extra dollars for fines, high-interest rates, and penalties. Just follow the new repayment plan that fits your budget. You'll be out of the vicious cycle of payday loan debt soon.Read more...
This is where you can pay off your high-interest credit card debts with an affordable payment plan. Late payment fees and penalties are dumped. All you need to do is pay a small amount every month to a debt consolidation company and be stress-free. The consolidation company will manage your credit card debts, collection calls, and payments.Read more...
Through this process, you repay your medical bills by paying a single monthly amount at a low interest. By doing so, you can avoid collection calls, wage garnishment, and any legal action, when you can’t repay your medical debt on time. By enrolling in a consolidation program, you can repay medical bills through complete professional guidance.Read more...
By consolidating your utility bills like electricity, gas, water, internet, cable TV and phone services, you can repay your multiple debts by paying a single amount every month. It will help you to manage your multiple debts in a better way and you can repay bills within a definite time.Read more...
Get a no-obligation FREE counseling session from an experienced financial counselor. Figure out how much you can pay and save on your debts.
Know how long the debt consolidation company is into business and how long it’ll take to be debt free. The company should also have satisfactory client reviews.
Discuss your debt problems with the counselor. Explore your options. Choose a plan that will help to simplify and lower your monthly payments.
In July 2018, I fill out a form in this website for debt consolidation and they referred me to a reputable law firm . At this present time, I,m working with the law firm and they have given me a sense of debt relief. I'm very please with the service. Thank for the help and I'll be sure to refer my family and friends dealing with financial crisis.
I fell into debt around the time of a breakeup and couldn’t make my monthly payments. I had credit card debts and loans totaling $42000. I found this company thru the web. Shane Rogers explained the program details to me and guided me step by step in the process and explained how long it would take for me to be debt free. I recommend this company for anyone who needs help as they are very helpful.
I am still learning so much about how to increase my financial knowledge, in order to not only get out of debt, but to also become financially independent. Discovering those with Debt Consolidation Care whom discussed about their own financial issues made me realize that I still can learn from others in regards to budgeting. Thanks for all of your help.