Are you a homeowner that is looking to consolidate your debt? If so, this article provides the information you need to know.
Debt consolidation allows you to lower your interest rates, reduce your debt faster and improve your credit rating, all while saving money This article aims to answer a number of the most common questions and provide an understanding of the process. To that end we provide:
The infographic below provides an illustration of the debt consolidation process using a generalized example.
In a nutshell, debt consolidation is just transferring your debts into a lower interest loan, either all at once, or in steps. It should be thought of as a first option, rather than a last resort.
There are a few basic steps:
This process of faster debt reduction ==> increased credit rating ==> better financing is what we refer to as the Virtuous Cycle of Debt Consolidation and can save you thousands of dollars in interest payments every year.
At this point in time, you may be curious and would like to learn more about debt consolidation and what your specific options are. We haven’t forgotten about the promise we started this post out with, so read on to find out about additional resources and how you can get your own customized Debt Consolidation Options Report…
As a new service to our clients and site visitors, we are now giving out free customized Debt Consolidation Options Reports. These reports use information that you provide to estimate how much money you could save per year over a 5 year period using a range of scenarios.
If you are interested in what you can find in our Custom Debt Consolidation Options Report, just click here.
Note that this is a new feature and is only being provided for a limited time, so don’t miss out.
That’s not all though! We have a number of other useful resource that you might be interested in….
If you are interested in debt consolidation and other related topics and would like to learn more, feel free to check out some of our other educational content:
Interested in consolidating your debt? You can apply online. It’s quick, easy, and you are under no obligation!