Debt Consolidation FAQ
(Better Business Bureau Approved)
Q. How can Debt
Consolidation help?
If you're Drowning in credit card debt * Living paycheck to paycheck *
Falling behind in your payments * Borrowing from one card to pay another *
Being harassed by your creditors!
Q. What is Debt Consolidation?
A restructuring of current debt, under which new terms are negotiated,
whereby in most cases payments are lowered and interest rates are reduced
or possibly eliminated.
Q. Are there different types of Debt Consolidation?
Yes. There are two basic types: Debt Consolidation Loans and a Debt
Management Plan also known as a Debt Restructuring Program.
Q. What is a Debt Consolidation Loan?
A Debt Consolidation Loan is used to combine all your existing
consumer debt or credit card debt into a single loan and one monthly
payment. The advantage of this type of debt loan is that you can
consolidate your high interest credit cards, auto loan and/or student loan
debt, into one single lower monthly payment. It allows you pay off bills
and stop creditors from calling. It also allows you to obtain extra cash
for personal needs. This type of consolidation is done by way of a Home
Equity or Refinance Loan.
To apply online for your
Debt Consolidation Loan - Home Required - Click Here
Q. What is a Debt
Management Plan?
A Debt Management Plan is not a LOAN. With a Debt Settlement
Program we negotiate on your behalf to actually reduce the amount you pay
to your creditors. You send us one payment each month. We then share out
this payment between your creditors and pay them a pre- negotiated amount.
Your creditors are satisfied that you are trying to straighten out your
debts and that they are receiving a regular amount every month. The
benefit to you is that you now make only one payment each month at an
amount that you can afford, and you are no longer being bothered by your
creditors. If you are interested in this type of financial plan, complete
our easy online application.
Click
Here for your Free no obligation Quote.
Q. Debt Consolidation Loans or Debt Management
At Online Credit Loans we offer both programs depending on your current
debt situation and personal preference.
Click
Here for Debt Consolidation Loans or
Here
for Debt Management Program.
Q. Is there an obligation to accept your Free Quote?
No. This is a free service we provide to our applicants. Your inquiry does
not commit you in anyway.
Q. Is bankruptcy an option?
Unfortunately in some credit situations bankruptcy is sometimes the only
option available. But bankruptcy was designed to be an option of last
resort. While the objective of bankruptcy is to absolve oneself of debts
altogether, it has lingering negative consequences in many areas of every
day life; applying for life insurance, purchasing a business, buying a
home, applying for a job, etc. can all be negatively affected by a prior
bankruptcy. A bankruptcy claim also remains on your credit report for 7 to
10 years. With a debt management plan or debt consolidation program, you
commit to repaying your debt obligations. Thus, one can repair bad credit,
maintain a good credit rating and return to a debt free lifestyle quickly
and without the frustrating negative consequences of bankruptcy.
Q. What is the benefit of Consolidating my Bills?
Your debt is consolidated, payments are lowered, and
interest payments are either reduced or eliminated.
Q. Types of Debts Eligible?
Both our Debt Consolidation Loan program and our
Debt Management Plan are eligible for the following types of debts:
High interest rate Credit Cards
Magazine/Record clubs
Department Store Cards
Tax Debt
Medical Bills
Legal bills
Personal loans
Health club memberships
Signature loans
Repossessed vehicles
Student loans
Collection Agencies
Bills from a previous residence (old utility bills/cable bill)
Q.Why will my creditors settle for less than the full amount due?
Last year alone 1.4 million bankruptcy claims were filed. When a debt
financial plan replaces a claim for bankruptcy both you and your creditors
reap a positive outcome.
Q. What Advantages will I gain if I apply?
Prevent bankruptcy
Re-establish your credit
You can apply regardless of poor or bad credit
No need to own a home
Consolidate bills into one affordable monthly payment
Avoid late charges
Stop harassing phone calls from creditors
Free debt counseling
Save thousands of dollars in high interest rates
Lower your monthly payments up to 50%
Q. Can I apply to both programs?
Yes. You can apply for your no obligation quote and see
which plan suits your needs best.
Q.How Do I Get Started?
Simply fill our easy online application with the requested information.
Click and submit.
Q.How Long Will It Take?
You will normally receive you free quote within 24-48 hours.
Q. How do I apply?
For
Debt Consolidation Loan - Home Required - Click Here
For a
Debt Management Plan - No Home Required - Click Here
American Debt Foundation
http://www.americandebtfoundation.com
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