Thursday, November 13, 2008

Debt consolidation a big hit

Human wants are unlimited in order to satisfy our needs,we take a loan for that particular need thinking that we will be able to repay in due time but some time things dosen't work the way we have planned and then the financial crisis starts that turns out to be a burden for us.

This is the time when we start thinking how to come off this situation and we start looking for debt consolidation companies for counseling .This is the place where debt consolidation comes up to solve your problem by free counseling and financial analysis.There are many debt consolidation companies which offer you free counseling and professional advice though there are several ways which help us to become debt free, but then i will always advice you to go for debt consolidation because debt consolidation dosen't mean only consolidation of debt but it is a complete debt management package .it helps in repayment process of loan and to re- structure the poor credit which starts with negotiation and ends to a debt free future.

How does it works?

when you go for a debt consultant for free counseling they at first start evaluating your financial situation ,like the no of debt you have,the rate of interest and penalties,any financial charges etc,after that debtors starts negotiation with the creditors and comes to final settlement.

1.The total amount of debt is reduced/eliminated which was built over by the rate of interest and other financial charges and penalties.

2You have to pay single monthly payment for all the debts.debt consolidation covers all the unsecured debts into one monthly payment that is to be paid to the consolidated company and the company will disburse the fund to all the creditors.

The amount of debt can be reduced by 40% to 60% to be paid within 12 to 36 months by a debt negotiation program.

3.You don't have to remember the payment dates for all the accounts so that there will be no chance for any late payment or any fine.

4.The average rate of interest for all the creditors is lowered to much extent which you used to pay earlier.

5.You will get rid off the harassing calls by the collection agencies,the consolidation agencies will be representing you on your behalf.

Thus a debt consolidation program plan will help you a lot in saving few bucks for some emergency.and make you free frm debt to live a better and stress free life.

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