what is debt consolidation???
Date: Thu, 01/04/2007 - 11:28
When you consolidate your debts, all your credit card debts, bil
When you consolidate your debts, all your credit card debts, bills that are in collections and/or any other unsecured debts combine together under one payment. You don't need to write numerous checks to each of your creditors. You pay to the consolidation company and they post payments to all your creditors in the program.
The benefits of this program are as follows:
You lower your monthly payments
Interest rates are slashed down from what you are paying at present
Late fees are waived off
All collection calls will stop
If you were thinking bankruptcy as the last alternative, you won't need it anymore
Just one monthly payment for all your debt accounts
Usually, the plan is set between 12-36 months.
