Debt Consolidation Step By Step
Besides getting you out of debt, it can also help you restore your credit and enjoy a fresh, clean start. Although this may sound like a very complicated procedure, it is not, all you have to do is take the first step and let us help you through this process, here are some simple steps to follow: (after filling the sign up form)
Step1: A professional consultant will call you to thoroughly explain this process in order to help you become debt free.
Step2: the consultant evaluates all of the information, paying special attention to: - unsecured loans such as credit card debts - secured loans such as home and car loans - interest rates of the total of each debt
Step3: after receiving your approval and a few mandatory documents the consultant will call the creditors and start negotiating in order to decrease your debts, eliminate interest and any other late fee.
Step4: after negotiating, all of your debts will be consolidated into one single payment in order to keep off from dealing with several creditors.
Step5: the consultant works with you to organize your budget and design a payment plan to suit you.
Step6: the consultant also gives you a few pieces of advice on debt related topics in order to teach you how not to have debt problems again.
After these few steps you should have a fair idea on how the process works. To summarize the procedure:
- define a monthly payment - Make all minimum payments - pay extra money towards the debt with the highest interest rate
With this method you will be certain of paying the lowest amount of interest and will take you the least amount of time. The fastest way to pay the least amount is to pay extra money for the highest interest rate loan. It is in your best interest to pay off that loan as soon as possible. The Debt Consolidation program will fix a monthly installment for you to pay.
People have a common difficulty, they want to keep making the minimum payments, but what they do not know is that this minimum payment is created in order to keep people paying for a long period of time.
The objective of the monthly installment is to eliminate the highest interest rate loan and in time let you have more money, usually known as the snow-ball effect. Give yourself the opportunity to fix your debt problems and learn how to avoid them in the near future.
Related Tags: debt consolidation
Debbie White is a contributing writer to http://www.curadebt.com and is currently writing some special articles to guide business on how to manage debt and avoid bankruptcy. For Free Information on how to become debt free and Debt Help Consultation, call toll-free 1-877-850-3328
Check these links to learn more:
http://www.curadebt.com/debt-settlement/NY+New+York/debt+settlement+NY+New+York.asp
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