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The Advantages of Debt Consolidation
There are many potential advantages for choosing debt consolidation. The potential advantages of consolidating your debts over multiple credit agreements can be:
- Reduced Monthly Payments & Lower Interest Rates
Reduced monthly payments and lower interest rates are the goals. Lower interest rates combined with a lower monthly payment can significantly reduce your amount of debt and relieve financial pressure.
- One Payment & One Creditor
Debt consolidation will reduce your payments to one single payment each month and allow you to pay it to one single creditor. No longer will you have to keep track of due dates or send off several different payments to different companies every month. Additionally, in the case of an unexpected financial challenge, there is only one call to make.
- Release Credit Pressure
Debt consolidation can release the pressure you feel from existing creditors. It can stop annoying phone calls and the barrage of ‘over due’ letters in your mailbox, allowing you peace of mind.
- Good Credit
Debt consolidation can be an asset to your credit. When used successfully, debt consolidation may enable you to maintain your good credit, repair your bad credit and/or increase your overall credit score.
- Keep Possessions & Privacy
You will not lose any of your assets due to debt consolidation. Debt consolidation allows you to keep your house, car and other possessions, and in turn, keep you in charge of your life. Nor will your private financial matters be published. Unlike bankruptcy, debt consolidation allows you to keep your finances private.
- Sense of Accomplishment
Debt consolidation allows you to feel a sense of accomplishment. It is encouraging to know that you are on your way to greater abundance and financial freedom.
Consolidate your debt and lower your monthly payments now >>
* Debt Basics is not a lender or broker. We provide information and research on debt help and debt consolidation. Product and service offerings differ by state. |
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