Debt Settlement & Debt Consolidation
The Debt Settlement Program is a good resolution for clients, who are struggling to make their minimum payments or have fallen behind, do not have an emergency fund for their family, or use their credit cards to cover any monthly living expenses.
The Enrollment Specialist with America debt Resolutions will help you analyze your financial standing, determine how much you can pay, and will negotiate with the creditors on your behalf. Negotiated settlements can save you money and allow you to make payments within your budget – whatever is necessary for you to afford payments.
The debt Sett allows you to:
- Get out of debt much faster
- Pay less than the full balances to resolve the accounts
- Alternative to bankruptcy*
- Help with Collection/Creditor Calls
The biggest benefit of going with the debt settlement program is the chance to save towards your settlements according to your personal budget, instead of making monthly payments that you may or may not be able to keep up with. Most of all, you will no longer have to worry about making multiple minimum payments since you will only have one monthly amount going into a dedicated account specifically setup for your debt settlement program.
Also known as a consolidation loan, debt consolidation is the substitute of several loans with a single loan, often with a lower monthly payment and a longer repayment period.
Regarding debt consolidation, the Federal Trade Commission states, that a consumer may be able to lower the cost of credit by consolidating debt through a second mortgage or a home equity line of credit, but these loans require the home as collateral. If you cannot make the payments, or if your payments are late, you could lose your home.
The credit counseling program allows you to:
- Significantly reduce your interest rates
- Help with collection / creditor calls
- Get out of debt much faster
What's more, the costs of consolidation loans can add up. In addition to interest on the loans, you may have to pay "points," with one point equal to one percent of the amount you borrow. Still, these loans may provide certain tax advantages that are not available with other kinds of credit.
Source: Federal Trade Commission, "Facts for Consumers"
Therefore, by consolidating your unsecured debt with a home equity loan, you run the risk of losing your hard-earned assets if you default on your payments. You will still pay the full balances on your unsecured debt and must have a low debt-to-income ratio to qualify.
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* Not all services available
*** America Debt Resolutions, LLC is a compliant contingency fee debt settlement company and debt marketing. America Debt Resolutions, LLC may refer you to a premier affiliate for debt management, bankruptcy or other services. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Our service is not available in all states and our fees may vary from state to state. Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution. *** INDIVIDUAL RESULTS MAY VARY BASED ON ABILITY TO SAVE FUNDS AND COMPLETION OF ALL PROGRAM TERMS. PLEASE REQUEST, READ AND UNDERSTAND PROGRAM DISCLOSURES AND AGREEMENT PRIOR TO ENROLLMENT. NO FEE RISK to you - we guarantee that you will pay NO FEES for your debt relief services until we successfully resolve a debt for you.
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