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Video Transcript

Free Debt Consolidation Quote

By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
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Credit Card Consolidation Loans

If you think about it, credit card consolidation loans seems like solving a dilemma through another problem. However, it does have its pros and cons to it. You just need to know if it can really help your unique financial situation.

Are Credit Card Consolidation Loans the Right Option?

lender offering loansAs the name suggests, this is a loan that you can take out to help pay for all your credit card debts. Instead of paying various companies at different due dates, you can actually take out a loan that can cover all of them with just one payment.

The goal here is to pay for one lower interest rate as opposed to paying several. You get to cancel the rates of the other debts by paying them off immediately. Not only that, it becomes easier to manage because you only have to track one payment every month. If you stick to your plan and you pay this loan religiously, you could be on your way to relieving yourself of your credit card problems.

However, it can get dangerous especially if you do not put a tight rein on your spending habits. Seeing that you are in this position means you are not the best spender in the world. The chances are high that you will think you have lesser financial obligations. That could lead to spending leniency that could put you in danger of getting yourself deeper into debt once more.

There are two ways to make sure this will not happen. One is talking to your lender or any financial expert to assess the new loan. Make sure it will not put your further into debt through unforeseen fees. The next is to come up with a spending and budget plan that will help you pool in your limited resources to concentrate on paying your debts. Now is the time to get a financial expert to advise you on how to accomplish this.

Another disadvantage of this loan is risking your assets. There are some consolidation loans that require collateral that will be taken in the event you are unable to pay your monthly dues. The alternative to that is getting higher interest rates – thus higher monthly payments.

It is true that this type of loan has a lower interest rate – but only for those with good credit scores. More often than not, applicants for this loan have bad credit standing. Otherwise, they should be able to manage their payments on their own.

If you intend on pursuing this path, you need to know the full scenario first. Note how much you spend every month and how much you can afford to set aside for your debts. Calculate properly to ensure that you will not end up paying for more than when you started. Once you have a clear idea of your financial capabilities, set realistic goals that will ultimately lead you to pay off your dues. Also, be prepared for a longer payment term. A lower monthly bill means longer terms and higher interest rates.
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Know that there are other ways to solve your credit card troubles other than a consolidation loan. Give us a call and we can talk about the options that will work best for you. National Debt Relief exists to help you find the perfect solution through the help of our talented financial experts.

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Free Debt Consolidation Quote

By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
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"Enrolling with NDR was easy. I liked how the rep gave me the exp"

Moderate National Debt Relief Caller: Charlotte Transcribed WE 1/24/2021 Charlotte: Our call is recorded. How did you first hear about National Debt Relief? SABAD: Oh, I was just Googling, “How do you solve for debt collection?” And this is what comes up in the research. Charlotte: Was there any particular reason that you selected National Debt Relief as opposed to the others that came up as well? SABAD: Honestly, no. There's no reason. I just thought this was the best. Charlotte: Tell me about the service that they provided for you. SABAD: The service they provided was getting like, “You have 24 months to 42 months to get debt relief. This is how much you have to pay. You have to [reapply 0:01:19]. We can contact all the credit --” All the details they gave me, actually was knowledgeable. And I talked to one of my coworker, and she told me she did it like a year ago. I'm like, “Oh, I just signed in.” And she's like, “Yeah, they're the best.” Charlotte: What did you think about the enrollment process as far as how easy or difficult would you say it was? SABAD: I believe it was easy. I don't think it was hard. Anybody can do it. Charlotte: Do you remember the name of your negotiator? SABAD: Yeah, I think it was Oscar. I don't remember his last name. Charlotte: Is there anything about him that stood out and impressed you at all? SABAD: The way he explained to me, how he gave me the explanation. He didn’t put me in a pressure. He say, “Hey, take your time.” He gave me like three days to enroll. He say, “Hey, I’ll give you three days. You can go and research. Here’s my telephone number. Here’s my fax.” The way he provided all of it, that’s what made me say, “Hey, I think I can trust these people and do it.” Charlotte: How comfortable did you feel working with National Debt Relief through this whole process? SABAD: 100%. Charlotte: Is there anything about your negotiator that really stood out and impressed you? SABAD: Everything he did impressed me. Charlotte: Is there anything about this process that you would have liked to have seen handled differently? SABAD: Maybe quick -- but I believe it depends on your budget and the time, so I think they're trying their best. But everything’s take a long time. So, I don't wanna be [unclear 0:03:20]. Charlotte: If you had to rate this experience on a scale of one to five stars, five stars is that you would recommend to friends and one star is you're pretty dissatisfied, how would you rate? SABAD: You said 5 is the what? Charlotte: Five is the very highest you could rate them. SABAD: I will say actually 5. My opinion, I would say 5. Charlotte: Would it be okay if I posted your comments as a review on our public website for National Debt Relief? SABAD: Absolutely. Charlotte: I have you at sabadsamatar2014@gmail.com. SABAD: Yes. Charlotte: How would you say that working with National Debt Relief has impact your life? SABAD: It’s impact everything the last two years. I don't think I would survive without them. Whatever happen right now, to me, especially when COVID happened, I'm like, “Thanks, God.” It was the right time for me. I think God opened a door, say, “There we go. This is your right door that I opened.” Charlotte: We’re recorded.

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