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The pandemic has caused an actual recession in the economy and a history of unemployment. According to a recent survey, people in our whole country feel the squeeze; more than half of all Americans have felt anxiety over their finances in recent months. Debt has been appointed as the most significant contributor to the stress in middle age people. It is known that debt is an everyday part of our life, but it can snowball into big problems when you have unbearable amounts of debt. If you are going through the same situation, worry not because America Debt Resolution is here to cover your back. We can help you with lowering your interest rates and paying your debt in the least time possible. Debt consolidation is when you combine all of your debts and ultimately pay in a single payment. It often happens with a loan or balance transfer credit card. Several programs are available to consolidate your debt; all you have to do is call us and meet our professionals. Let’s continue reading this post and know everything about free debt consolidation companies.

What is Debt Consolidation?

 

As I was talking about above, debt consolidation is a process that merges all of your debts into a single payment and helps you pay the lower interests. The only aim of debt management is to pay your debt faster and save you from hassle. Even the surveys state that debt consolidation plans have helped the people in numerous ways and built their credit score for a better image in the market. Also, you should never confuse consolidation with debt settlement. Settlement is something that helps you to settle for less than you owe.

How to Consolidate the Debt?

 

There are six ways to consolidate your debt if we talk systematically, but professionals suggest two main categories; secured and unsecured. Secured consolidation means that you have something backing you, for example, a home or a car or a home. On the other hand, unsecured debts have no underlying assets or collateral attached to them. If you default, the lender can take your asset in terms of secured debt.

Several Types of Consolidation

 

0% Apr Balance Transfer Credit Card

Nowadays, it might be tough to come by 0% APR, but few companies are offering this scheme. Usually, they set a period of 12 to 18 months, but it is essential to qualify for these card offers if you want to save on the interest. Another rule is that you have to pay off the debt during the 0% period. If possible, apply for a card with no balance transfer fee.

Debt Consolidation Loan

Considering a personal loan is another way to consolidate the daunting debt. Our duty is to tell you that personal loans will have a fixed interest rate that is advantageous in one way and disadvantageous in another. It totally depends on your credit score and income; they will determine the interest rate. The originated fee can be as high as 8% of the personal amount. 

Credit Counseling Agency

Working with a non-profit credit counseling agency is a great way to get the cheaper cost to help with your debt. And If you are searching for the best company, we are here; we will help you with providing credit counseling. Also, set you with vital debt consolidation programs at the least prices possible. As an experienced company, we have seen several cases where people are confused about choosing a promising plan; you do not have to worry about it.

Conclusion

As I was talking about above, the pandemic has caused a real recession in the economy and the history of unemployment. People in the whole of America are feeling the squeeze. If you are typing free debt consolidation companies on the internet and looking for the best program, reach out to us.

For more information, contact Americadr.