Process of the debt consolidation program

Hi Tammy

Welcome to the forums. debt consolidation is done on all those accounts of your choice that you consider including in this program. These multiple accounts are combined together into one loan amount and are paid proportionately to your creditors in every billing cycle. Thus all the accounts that were in defaults are brought current and regular payments are made towards it. After all the payments are complete to your creditors, they will report your accounts as 'Paid in full' to the credit bureaus and you will be able to see the completion of your debt accounts in your credit report.

The consultant working in the program negotiates with your creditors to reduce the total amount of your debt. He will most efficiently wipe off all the financial charges, late fees built on the total amount and thus you will be offered to pay the reduced amount. debt consolidation program will most likely reduce the total amount of your debt by a margin of 40% to 60%.

After the consultant knows the total amount of your debt, he will analyze your financial position and offer you various options on your repayment procedure. You can choose from the options which suits best to your present financial needs.

You can seek more information about this program by registering yourself in this website and get free counseling. The consultant will be offering you with the various options on your repayment before you get started with this program.

Regards
Roxette