Best Debt Consolidation Loans

Need Help With Debt?

Free Debt Relief Quote - Mobile

Safe And Secure

Fill out the information below to get a free debt consolidation quote.
  • Need to Talk?
    877-792-2030

The Top Misgivings About Debt Consolidation Loans That Might Be Keeping You from Financial Freedom

By

After the graduation ceremonies are over and the parties dim down a little, fresh graduates often realize the terrible burden of several loans. It is not just the loans related to college tuition. There are other credit card payments, car payments and more. One prominent solution to multiple debts is the consolidation of existing loans. It should help you to track some student loan payments and the progress of your finances. It reduces the number of monthly dues to just one, and that makes it easy to control your expenses related to loan payments. Consolidation of all debts including a plethora of student loans is indeed a smart way to manage your money.

When do debt consolidation attempts fail?

Many people attempt debt consolidation without any idea about the allied process, the outcomes, and the disadvantages. There are times when consolidation loan is the last option necessary, but the lack of knowledge about the process makes people think that debt consolidation is what they need. Such a situation can be disruptive to your finances. So before you make a decision, check out nationaldebtrelief.com for all the information you need on the relevant topics.

Here are the top 5 misconceptions about debt consolidation loans that you need to get rid of before approaching a consolidation company –

Refinancing and debt consolidation are the same

debt consolidation loans for financial freedomThe reality is – consolidation and refinancing are two very different procedures. When you are eager to consolidate your student loans, you are looking towards combining several federal student loans. You can collate them into a direct consolidation loan that the Department of Education will issue. Usually, the resulting new interest rate will be an average of the previous ones. You will, of course, have to pay an extra percentage for the consolidation loan too.

Refinancing is when you apply for a new loan that can help you pay off your existing debt. The new credit comes with new terms of repayment and interest percentage. Usually, only private lenders provide refinancing services. Whether you pick a single loan to refinance or multiple loans, you can choose your interest rate. You can select a fixed interest rate or a variable rate. In either case, refinancing helps students to pay off their cumulative loans from different sources at reduced monthly payments. They help to save money and interest over time.

Loan consolidation is the same for all borrowers

Student loan terms vary according to the lending parties. The repayment terms are variable, and so are the interest rates. For example, Direct Consolidation Loans for federal student loans almost never reduce interest rates and monthly payments. Therefore, the goal is to streamline the payment process.

For credit card debts, insurance bills, medical bills, home loan payments and car payments, you can always opt for debt consolidation. When private loans and federal loans are present, you need to approach a loan counseling and debt consolidation company. During this process, they will take into account factors such as your financial situation, income, and credit history, and then decide the repayment terms.

Therefore, it is the most significant mistake to think that you will get the same deal that your best friend or your parents are getting from a debt consolidation company. Debt consolidation is a finance management strategy, and it does involve much personalization.

The only way to fix interest rates is by debt consolidation

Even in 2018 people believe that they can hold their loan interest rates steady only through the merger of their existing debts. That was true even until a couple of years ago, and it did have the autonomous power to protect you from market fluctuations.

It changed post-2006 as the government introduced a new reform that fixed interest rates for federal loans. That means, even if the interest rates on new student loans increased after your graduation, the hike would not affect the additional sum that you are paying for your existing l

ines of credit.

When you get a private loan, you can choose between fixed rates and variable rates. The variable rates can increase or decrease due to market conditions. Here, refinancing your loans or even consolidating them makes complete sense for getting lower monthly payments.

Debt consolidation comes with a pretty price

Debt consolidation companies sometimes charge you a handsome fee for collating your loans for you. However, you can also get this service for free. Several well-known non-profit debt counseling companies help their clients consolidate their credit for free. Many US citizens take the help of online tools and websites to consolidate their debts on their own. Did you know? You can complete an application for consolidation loans in 30 minutes average with a little knowledge of the requisites.

Go ahead and browse all you like. Bookmark some companies that offer debt consolidation services in your area. Compare their ratings, reviews, and testimonials. Compare their terms and conditions, qualification requirements and their fees. When it comes to loan consolidation, there is no reason you should compromise. Always pick the company that is offering you the best rates and guaranteeing you the lowering of monthly payments. Many private companies do not charge an application fee or disbursement fee. It can save you good money!

Wrapping things up – the gist of debt consolidation and the false beliefs

So far, we have seen that:

  • You cannot replace debt refinancing with debt consolidation.
  • You cannot expect consolidation loans and their terms to be the same for all loans.
  • You can achieve fixed interest rates by processes other than debt consolidation.
  • You do not have to pay to consolidate your loans. You can always do the process on your own.

It helps us come to a sound conclusion – debt consolidation is never the only great idea for survival. Not all borrowers can benefit from it, and sometimes, all you need is a thorough debt counseling process to understand your financial situation. Based on the expert opinion, you can weigh the pros and cons that debt consolidation brings to you. Getting a debt consolidation loan is not a light decision, and you should think about all the effects before you get one.

Top 3 Debt Consolidation Providers In Pittsburgh, PA Announced by BestDebtConsolidationLoans.org

By

 

Many Pittsburghers are having a problem with their debts, as evidenced by the fact that the city’s households are carrying an average credit card balance of $6,971.Residents also have an average non-mortgage debt of $18,606. Plus, 70% of Pennsylvania students were required to borrow money to finance their educations and recent graduates had an average of $31,675 in student debt, which makes the state one of the worst in the nation.

The company BestDebtConsolidationLoans.org recently analyzed the debt consolidation providers available to help those Pittsburgh residents that are struggling with their debts. It concluded that the top three are National Debt Relief, CuraDebt and Consolidated Credit.

After evaluating these three companies BestDebtConsolidationLoans.org determined that National Debt Relief is the top debt consolidation provider. It’s rated #1 for debt consolidation on both Top 10 Reviews and Top Consumer Reviews. Jimmy Saver of Bestdebtcompanies.com said, “National Debt Relief is a reputable company with years of experience in the industry. They generally have high customer satisfaction, and they offer debt training along with their services. Debt education is crucial because it helps people avoid having debt problems in the future”.

In addition, National Debt Relief has consistently maintained an A rating with the Better Business Bureau. It has helped more than 100,000 individuals and families find debt relief through a combination of debt settlement and consolidation. National Debt Relief’s counselors are usually able to reduce its customers’ debts by 50% and help them become debt free in two to four years. It offers a money back guarantee that if it is unable to satisfactorily settleall of a customer’s debts and provide her or him with an acceptable payment program, it will refund everything the customer has paid it. National Debt Relief charges no upfront or maintenance fees, which is in stark contrast with other debt consolidation companies that charge one or both of these.

BestDebtConsolidationLoans.org found that National Debt Relief ranks highly in customer satisfaction as most of them have reported that they were “very satisfied” with the services they received from the company.

CuraDebt is a 13-year-old company that offers helpful and friendly customer service. It provides free consultations over the phone with its customer support representatives as well as a savings estimate – or how much a customer could expected to save on his or her debts by using the company. CuraDebt offers flexible payment schedules and will tell customersupfront what they will need to do to become debt free in 5 to 6 years.CuraDebt’s counselors are able to help with credit card debts, defaulted loans, tax debts and student loan debts. It is Better Business Bureau accredited and also has an A rating.BestDebtConsolidationLoans.org found that the company has excellent relationships with the credit card companies and is almost always able to deliver on the promises it makes its customers.

Consolidated Credit offers a combination of consumer credit counseling and debt management plans. “Credit counseling can be a good thing for many people,” noted Saver. “Sometimes all a person needs is to discuss her or his debts with an objective, third-party person. In other cases the Consolidated Credit counselor will recommend a debt management plan. While this can be a good way for people to consolidate their debts, it just doesn’t work for everyone as it can take five years to complete one of these plans and it can be very restrictive.  For example people in a debt management plan are generally required to give up their credit cards and forgo taking on any new debt until they complete their plans. There are people who would just be better served by getting a debt consolidation loan or by choosing debt settlement.”

Residents of the Pittsburgh area that are struggling with their debts can get more information on National Debt Relief, CuraDebt and Consolidated Credit on the website www.BestDebtConsolidationLoans.org.

Top 3 Debt Consolidation Providers In the Sacramento Area Announced by BestDebtConsolidationLoans.org

By

BestDebtConsolidationLoans.org recently did a study of the debt consolidation providers available to residents of the Sacramento-Stockton-Modesto area and has announced that the top three are National Debt Relief, CuraDebt and Consolidated Credit.

“We saw that unemployment in this area is still at 7% and that credit card debt totaled more than $344 million, which was up nearly 6.5% from the third quarter of 2012, noted BestDebtConsolidationLoans.org spokesman Michael Smith. “We also saw that 52% of California’s students are required to borrow money in order to finance their educations and that last year, students graduated owing an average of $20,269. These statistics inspired us to do a study of the debt consolidation providers available to residents of the Sacramento area. What we learned is that National Debt Relief is the top provider.”

In evaluating debt consolidation companies,BestDebtConsolidationLoans.org used six criteria – their fees, customer services, customer satisfaction, business ethics, financial standing and debt solutions offered. National Debt Relief ranked number one in almost all of these criteria, especially business ethics. The reason for this is that National Debt Relief charges no upfront or maintenance fees and, in fact, charges its customers nothing until it has satisfactorily settled their debts and provided them with a debt consolidation plan they approved.

“We also ranked National Debt Relief highly because it has a very liberal cancellation policy. If at any time a customer becomes dissatisfied, she or he can cancel out and will not be charged anything,” said Smith.

National Debt Relief has only been in business for seven years but in that period of time has helped more than 100,000 families and individuals achieve debt relief through debt consolidation. It has continually maintained an A rating with the Better Business Bureau and the majority of its customers have said that they were “very satisfied” with National Debt Relief’s services.

BestDebtConsolidationLoans.org ranked CuraDebt as the second best debt consolidation provider for residents of the Sacramento-Stockton-Modesto area. In announcing this, Smith said, “We gave CuraDebt a high score due to the fact that its debt counselors are knowledgeable and experienced and that they have excellent working relationships with the credit card companies.CuraDebt has been in business for 13 years and can help not just with credit card debts but also with student debts, defaulted loans and tax debts. It offers prospective customers a free debt analysis and savings estimate, so they have a good idea of what to expect from CuraDebt before being required to sign a contract.”

The analysts at BestDebtConsolidationLoans.org ranked Consolidated Credit as third best bad credit debt consolidation program in Sacramento. The reason for this is that it primarily does consumer credit counseling but is also able to offer debt consolidation in the form of a debt management plan. This is where one ofConsolidated Credit’s certified counselors analyzes the customer’s income, debts, budget and credit score to determine what payments the person can actually afford to make. The counselor then contacts each of the customer’s lenders to determine if it would be willing to accept that payment. If all of them agree, the customer will then no longer be required to pay them but will send one check a month to Consolidated Credit.

Residents of the Sacramento-Stockton-Modesto area that are struggling with their debts and looking for help should definitely go to the website www.BestDebtConsolidationLoans.org for more information on debt consolidation and National Debt Relief, CuraDebt and Consolidated Credit.