Consumer debt in America has reached a milestone of $12.7 trillion, climbing past amounts not seen since the credit bubble burst in 2008. The growing economy has restored consumer confidence in banks, which means more people feel comfortable borrowing money.
Unfortunately, a growing economy has little to do with our debt, as we continue to struggle to pay it off. High interest rates and fees fight us every step of the way, forcing us to scrape by making only minimum monthly payments.
This cycle of debt can have an extremely negative impact on life. Aside from not being able to afford even small luxuries, your financial situation may become so dire that you have difficulties affording necessities. You may even consider filing for bankruptcy to get some relief. Debt consolidation is surely a better solution, one that’ll have a far less negative impact on your credit. Here are the top 10 debt consolidation articles of 2017 from National Debt Relief.
1. Too Many Outstanding Loans? Consider Debt Consolidation
Do you have numerous outstanding loans and extreme difficulty keeping up with the monthly payments? You may fall behind and damage your credit while accumulating late fees, higher interest rates, and collection calls. This article explores how debt consolidation can be an effective tool on your road to financial freedom. Read the full article here.
2. Can Debt Consolidation Save You Money?
The idea of debt consolidation is to turn several loans into one, which should save you money. Unfortunately, this isn’t always the case. This article explains what type of debt consolidation program is right for your financial situation, and it includes a handy debt calculator to help you crunch the numbers.
3. Have Business Debt? Here’s How to Choose a Debt Consolidation Company
You’ve decided to consolidate your loans for your business into one convenient monthly payment. How do you choose the right consolidation company? This article explains not only how to find the right company, but it also walks you through the process and explains how consolidation will affect your BBB rating.
4. How to Find a Reputable Debt Consolidation Company
If you’ve decided to consolidate your personal debt, read this article that’ll help you find a reputable company with which to partner. The article tells you what to look for in a good consolidation company and how to spot an unscrupulous one. Click here to read the full article.
5. Debt Consolidation in the USA vs. Canada
Have you ever wondered how overwhelming debt is handled north of the border? This article delves into the options that Canadians have available to help them deal with their growing personal debt problems. Find the full article here.
6. Debt Consolidation: What End Results Are Possible?
Hopefully, you’ll go through the consolidation loan process and everything will go smoothly, but imagine if it doesn’t. What happens if you’re denied due to bad credit? What if you’re scammed, or only approved for a partial loan? This article explains what you should do if things don’t go as planned. Click on this link to find out more.
7. Before Getting a Debt Consolidation Loan, Ask Yourself These Three Questions
This article is a primer for debt consolidation, teaching you what it is and how it can help your financial situation. It also provides three questions you should ask yourself before making a decision to consolidate your debt. Read the questions here.
8. Can I Get a Debt Consolidation Loan with Bad Credit?
Often, by the time you’re considering a loan consolidation, you’re credit is already suffering. What happens if you have bad credit? By getting a copy of your credit report and understanding what’s in it, you can spot any errors or possible identity theft and repair your credit report to improve your credit score and increase your chances of being approved for a consolidation loan. This article breaks down your options if your credit is less than stellar. If you want to find out more, click on this link.
9. Debt Consolidation vs. Debt Restructuring
What are the differences between debt consolidation and debt restructuring? This article explores the differences between the two and the benefits of each. Debt consolidation can provide a solution that won’t harm your credit, whereas restructuring is limiting and will remain a negative mark on your credit report for seven years. To find out more, click here.
10. Top 10 FAQs about Debt Consolidation
If you haven’t learned everything you need to know about debt consolidation by reading the previous nine articles, this one’s for you! It explains how debt consolidation works, how to know if it’s the solution for you, and how to find the right company to handle your consolidation loan. Click on this link to find the answers.
While consolidating debt isn’t the right solution for everyone, it could be the right one for you. If you have a lot of debt from several sources, combining them into one monthly payment could save you money in interest, but at the very least, it saves you from paying several companies each month, which increases your chances of missing a payment. If you’re able to lower your monthly payment with a lower interest rate, you could have your loan paid off sooner than you would have otherwise.
National Debt Relief is here to help you restore your financial freedom, providing real solutions and real financial results. Call us today at 888-965-1134 to speak with a certified debt specialist.