Consolidating debt good credit
Companies usually attempt to lower your debt through debt settlement before recommending you take out a loan.The goal of consolidation is to have a lower payment at a lower interest rate than you currently have.It has flexible programs that don’t have a minimum debt requirements.Freedom Debt Relief is also one of the industry leaders, and it offers some of the highest quality customer service.*Comparison rate based on current rates available for a 3 year, ,000 unsecured personal loan for a borrower with a good credit history.Your personalised rate may be different to the example.Debt Consolidation is worth looking at if you have at least ,500 of debt.
These debt relief programs don’t have a negative impact on your credit but may limit your credit options for their durations.
These programs take around two to four years to complete and negatively influence your credit.
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.
During this program, you receive financial counseling and meet with a financial advisor.
Additionally, the debt management company contacts your creditors and attempts to negotiate lower interest rates on your behalf.