What A Debt Consolidation Actually Is:

Debt ConsolidationIf you need to learn how to get out of debt and you are thinking of how to become debt-free, you have arrived at the right place.

According to Wikipedia, debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others.

Companies that offer help to pay off your debts come in many different shapes and sizes. The three most common types are debt management, debt settlement and consolidation. If debt consolidation is something you do need, you should understand how it is works.

A debt consolidation company will take all your debts and place them into one loan. For example, if you have three credit cards and are only paying the minimum amount each month due to their high interest rates. You might want to look into debt consolidation. A company can collect all your debts and provide you with a lower interest on just loan over a set period of time. Lets say you are paying $500 for all three cards each month, getting them all in one loan for a payment of $300 could work well for you. Possibly you can afford $450 vs $300. You will actually make payments on principle, which will help you pay off the debt in a more timely manner. You will be making payments directly to the debt consolidation company with a lower interest rate compared to the present payments. Companies will try and make this happen for you. But, it does not work for everyone and that is why there are choices for dealing with your debt.

Debt consolidation uses negotiation to lower the debts owed to a more manageable sum. There are times when negotiation does not lower the debts at all though. If the debts cannot be lowered, then the debt relief is seen by combining all of your debts into one loan with one interest rate. It saves you from making multiple payments and paying out on large interest rates. You may see an interest rate of 20%, yet if you pay 15%, 30%, 25%, and 18% on 4 different debts you are paying more interest each month. This option tends to lower your monthly payment, although it is not a given.

Debt negotiation is also used with debt settlement. The settlement aims to lower your owed amount to one lump sum to creditors. In this way, you pay a lump sum to your creditors and the rest of your debts are forgiven. You no longer owe money and this solution ends the troubles you have faced. It is a quick solution that requires you to have savings on hand to negotiate with.

Lastly, you have credit counseling as a solution. Credit counseling is usually used in conjunction with debt settlement and consolidation to help prevent you from entering into debt in the future once you are debt-free. It can help you get your finances under control to make your debt problems seem more manageable. You can combine it with a credit repair option if you want.

How To Choose A Good Company:

It can be difficult to weed out all these companies in order to find the ones that are credible and reputable. If you find a few that seem to fit your needs, go to the Better Business Bureau and type in the name of the company. You will find out whether the company is accredited or not, you will find testimonials along with any complaints from others that have used that company. This is an important step and should not be overlooked.

Find out if the company is registered to determine if they are a reliable and trusted company. If they have a good status and reputation, they will be registered in the National Foundation of Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies.

All companies have set fees so your decision should be based on how their charges are going to effect you and your wallet. Upfront fees do not normally come into play because you will be paying a new loan with the company and they will be paid by the new interest rate. In most cases, these companies can offer you a lower interest rate that will help you get out of debt much more easily. You need to consider the terms of the new loan and whether its worth it. Yes, you will be paying less, but your loan will probably extend over a longer period of time.

Before making a decision, add up any upfront charges, if any, along with the amount you will be paying out due to the new interest rate. Make sure you are able to handle this new loan over the entire term of it. Then, sit down and decide if the new loan is worth it or would you be better off staying with your credit card debts as they are.

About My Site:

The main purpose of this website is to provide you with reviews, which I have crafted based on extensive knowledge of each company. I work with these companies, vet them, and only provide reviews that I can stand behind. While I am paid for this work, I only work with companies I can trust.

It is not a business landing page, I am not here to try to sell you on debt relief that is your choice, and no one else. I have 22 companies that I have extensively reviewed and researched. I will not review a company unless they can pass my tough screening process. Unless I would use one of these companies, I will not recommend them.

I am here to help you learn how to get out of debt, find a debt solution that matches your particular problem, and make it an easier process for you. The companies I am recommending and reviewing must win your trust. I do want you to know that I'm purchased my reviews, allowing viewers, like yourself, to possess access to the knowledge, freed from charge.

I am paid in different ways from upfront to other incentives, however, I do not take companies that I do not believe add up to my expectations. I receive thousands of emails daily from debt help companies, but only a few select ones get reviewed by me. My reputation is on the line and I need the trust of my readers that I am honest.

How I Review & Choose Companies:

Debt Consolidation CompanyMy vetting process for companies is rigid. I look closely at specific parameters including accreditation, their history, and the level of experience from their employees. Your trust in me is extremely important but more so, that you will find a company that will help you with your particular needs.

You may think that all the debt help companies go after profits alone, but you got it all wrong. There are quite a few companies that are known as non-profit that are so eager to assist you in becoming debt-free with totally no charge with their generous service. You must also go beyond your quest in looking for a dependable debt counseling company before you decide which company you can depend on your financial freedom with. In ensuring that you are in good hands, you must look into several things in doing company research.

You should authenticate the company’s name as well as its credibility so you can be secured when you choose to get their service. You may also want to check if there’s filed complaints against the company and if you find anything against the company might as well find another company and do the same thing.

You must be aware of the service fees beforehand so there won’t be any misunderstanding in the long run. You must bear in mind that only non-profit companies can charge you with totally nothing, otherwise, you can expect to be billed for the debt management or credit counseling service that the company does for your benefit.

You need to be certain that your personal information will be kept confidential and secured. This should be the foremost consideration that you must ask the company before getting their service. You should be assured that everything will be between you and the company before you can entrust your debt issues with anyone.

Who is the Best Debt Consolidation Company?

CuraDebt CuraDebt is my number one pick for your debt relief options. They are very honest, fair, and very responsive in helping you with your debt problems. CuraDebt has a reputation. Your financial needs like debt consolidation, negotiation, and management can be taken care of through this company. They will work closely with your creditors to negotiate the terms of your settlement. Additionally, they offer other services in case these programs are not right for you. Like most companies, this one appeared on the scene around the same time as the other one recommendations provided here.

You have a company that is well-rounded in what they have to offer and ensure that you will be able to find relief from your money situation. Staff members at CuraDebt will look at your financial burdens, assess the situation, and give you their recommendation. They will be honest about the solution that is right for you like debt consolidate. Here you can trust that staff members have your best interests at heart, but also look objectively at your situation. The company will also provide with the Tax Debt Relief.

CuraDebt works with you to ensure you can find debt help quickly from a very trustworthy company. The company will also provide Business Debt Counseling. This company has been around for the last twenty years, providing many families with excellent solutions to their money problems. You will work closely with knowledgeable staff members that help you find the best solution to fit your needs. Whether you will need negotiations, settlements, or another form of relief, they will guide you to the best solution for you.

The staff members at CuraDebt care a great deal about their clients and their specific needs for debt solutions. They want to be sure they are providing you the perfect fit for your debt help, which is why they are my Number One Pick.

Click Here to Get a Free Quote from CuraDebt

National Debt Relief Review

National Debt Relief National Debt Relief is my second choice debt consolidation company and I highly recommend it.

About National Debt Relief:

This company was founded in 2006, and they provide debt consolidation and debt help for individuals and small businesses. As of 2008, they have been offering their debt services throughout the entire USA. This company is a member of TASC and in good standing. They are one of the oldest and largest debt management companies anywhere and have the highest rating by the consumer watchdog.

One of these company features is they start with your entire debt. They will work with your creditors to try to come up with a lower payment method, then structure a loan around the balance. This process will help relieve financial pressures from you. They do not start with portions of your debts with one creditor, negotiation, or consolidation at a time. Should you ever have any questions or concerns, you will be able to speak with your credit counselor, negotiator, or knowledgeable team members.

This company also works with the Better Business Bureau (BBB). And, I suggest before signing with any consolidation company like Guardian Debt Relief or Freedom Debt Relief, ask if they follow this procedure as well. This company will also save you money in the long run. Their negotiators have spent a great deal of time building up contacts for established credit card debt consolidation programs. They settle accounts all at once vs one at a time. If you owe out $250,000, they will settle the entire amount all at once instead of $10,000 here, $10,000 there. You stand a much better chance of a good negotiation this way, instead of breaking it down. As this company is a commissioned-based debt management company, it is in their best interest to find the best savings plan for you.

You Will Always Have to Support:

You will personally speak with a debt help negotiator whenever you have any questions about your accounts and what they are working on. They will also work closely with the Commercial Debt Counseling division to negotiate with your creditors. You have free access to this company testimonials from others who have sought debt help from them.

You will also receive a session. Ask any questions you have and discover debt help from knowledgeable, caring people.

In Conclusion:

This company offers top-notch savings, honest, knowledgeable employees, and a five-star reputation. This company providing a quick and easy solution for your debt problems. This is my Second Choice.

Click Here to Get a Free Consultation from National Debt Relief

What to Do to Get Rid of Credit Card Debt

Get Rid of Credit Card DebtYou need to vary your habits of paying money.

Imagine that immediately someone gives you adequate money to pay all of your debt. You think, Wow, that's great, and once you've got your debt canceled and with a replacement limit on the credit card, you fall back to shopping.

It is exactly what I mean once I say that borrowing from the credit card may be a dangerous habit! If you are doing not change your spending habits, albeit you manage to pay the debt, you'll quickly create new debts. that's why it's so important to figure first in your mind, and your habits.

We are browsing the action decide to end the debts on your credit card:


Calculate your total debt

Take all of your cards, and check the balance on each of them. Write these 3 things:

1. Card name.

2. what proportion you would like to pay (i.e. the entire amount of the credit card debt).

3. The annual rate of interest.

Then add everything, to understand your total debt on all cards. Once when you're through with this, it is time for the second step.

Make a Budget

Make a BudgetOn the one hand, write all of your sources of income and their amount. for instance salary, the income of your business, online activity, product sales, etc. Then add everything to urge your total income. this is often the cash that reaches your pocket.

If you're doing not have a stable income because you are an entrepreneur, a freelancer, otherwise you work on commissions, then write the minimum you're earning monthly, or add what you've got earned within the last 6 months, then divide it by 6 and record the result As average salary.

On the other side write your fixed expenses of the month: rent, energy, gas, telephone, etc. Also your variable expenses. Then add them all, to know your average amount of the month's expenses. This is the money that comes out of your pocket.

Now compare the quantity of your income with the number of your expenses. If your income is above your expenses, this remainder is that the amount you'll currently dedicate to the payment of your debt. If the expenses exceed the income, it's a sign that you simply got to make big changes.

In any case, you've got two things to try to to to pay your credit card debt faster.

Start by cutting expenses

Analyze the list of expenses you've got made before, and determine where you're spending an excessive amount of. They will be shopping, visits to the restaurant, television cable, new clothes, etc. this is often a difficult time because you would like to make a decision which of those expenses you're getting to reduce or cut.

You are during this place because you've got spent quite your income allows. If you would like to urge out of your debts, you've got to chop all unnecessary expenses. If you do not change anything, then don't expect your debt to disappear. Repeating the mantra, I even have no debts aren't enough.

Examples of cutting expenses

Instead of going out together with your friends to the restaurant, invite them to your house, prepare your food, which isn't, only cheaper, but also healthier. rather than getting to the films, rent a movie and watch it reception. These are simple things, but these changes have an enormous impact on your pocket.

Remember, this is often only a short-lived situation. For a couple of months cut any expenses you'll, and once you finish with the debt, you'll be liberal to spend your money on whatever you would like.

But there's an excellent advantage of those changes. you'll probably feel good about a number of them, and these good habits can stick with you, also after paying your debt.

Example of paying the debt

Paying the DebtLet's choose an example: Imagine that you simply earn 500 dollars and canopy your needs (ie expenses of food, house, transport, etc.) it costs you 400 dollars, then you've got 100 dollars to manage. Now, you've got two options:

You can pay the minimum on your cards. Suppose it's 70 dollars, and use the remainder to shop for your something, attend the sweetness salon for instance.

You can put the 100 dollars for the payment of your debt. Enter extra money dedicate to pay your card, faster you'll be debt-free, and thus dedicate all the cash possible to the payment of your card. this is often your goal.

Now, what to try to if you already cut your expenses to the bone, you do not buy beautiful things and you continue to lack the cash. during this case, you want to work for extra cash.

Increase revenue

Increasing income is suggested for everybody, and particularly if you're in debt and need to pay fast.

Look at the list of your income that you simply have prepared. Analyze if in your case, it'll be easier for you to extend your current income, for instance, your salary, take overtime at work, etc., or it's better to make a replacement source of income. It doesn't matter if it's only an hour or maybe a couple of minutes each day, if you've got free time, dedicate it to get extra money.

Then use all this extra cash to pay your card.

I know it is a lot: cut expenses, and sacrifice your free time to earn extra money. does one get to sacrifice such a lot to pay off your debt?

You don't need it, it is your decision, and you'll do what you would like. If you would like to continue together with your debts, don't change anything in your life. But if you would like to go away debts on your credit card, once and for all, and also roll in the hay quickly, then take action immediately.

This is not the top yet.

Do you want to form sure that you simply will achieve paying off your debt?

Follow the following pointers

Do not use your credit card while paying the debt. If you continue using the credit card, you'll never be free. Leave the credit card reception, or if it's too tempting for you, take the scissors and cut it. That's right, cut your favorite credit card.

For your card payments, dedicate 90% of all the cash you'll save, and therefore the extra cash you'll make. That is if after covering your monthly expenses, you've got 100 dollars left, dedicate 90 dollars in payment of your debt, and only 10 dollars to shop for something you wish.

Do not await the top of the month, make the payment once you have the cash. In this manner, you'll avoid temptations spend money on something else. If you get paid by checking account, found out an automatic transfer for the payment of your debt.

If you're not currently ready to pay quite the minimum payment, then cut expenses and increase your income, to form it possible. If you pay only the minimum, it'll take you years to urge out of debt.

In what order to pay your cards?

If you've got quite one credit card, first check where there's the best interest. the credit card with the best interest is that the first one you would like to pay.

For example, if you've got 3 cards, two have 8% interest and 10%, pay the minimum on the primary two cards and dedicate all the additional money to pay this card with 10% interest.

But beware, this is often a way for organized people, and with a robust mentality, since you'll not see effects instantly. If you've got a drag with it, I like to recommend using the snowball method which indicates paying the littlest debt first.

Imagine how you'll feel once you will finally be freed from any payment on your credit card. you'll distribute all of your income as you would like because it's your money.

Make an idea, and shortly you'll celebrate this freedom and you'll not receive a mailer from debt relief scammers.

How to Get Out of Student Loan Debt

Get Out of Student Loan DebtThe best way to pay off student loan debt after finishing college is to maximize and increase productivity. Extensions, debt consolidation, the public service loan forgiveness program (PSLF), or income-based payment plans are all patches that do not truly solve the problem. According to current legislation, the only guaranteed way to get out of a student loan debt is to pay it. Therefore, the idea is to focus on increasing revenues that can only be achieved by increasing productivity. Use every extra dollar that comes into your hands to pay off the debt.

It is like that. I can assure you that this is the quick answer that works 100% of the time. It is the solution for student loan debt-financed with both public and private funds.

Government Debt Relief Programs


Government Debt Relief ProgramsAny person with student loans guaranteed by the federal government, whether these are direct loans or those known as Guarantee Student Stafford Loan, have the right to postpone their payment by requesting a deferment agreement. This is established by the Federal Law on Higher Education.

It is a period during which it is not mandatory to pay a loan due. During this period, interest does NOT accrue, unless it is an unsubsidized Stafford loan. If it is, one of these loans, you must pay the interest accrued. To qualify for the deferment of payment, the person who has the loan must meet some conditions. When a loan is deferred and is not one without subsidy, the federal government pays the interest.


The most common type of loan that is modified is mortgages. If your home is worth less than the remaining balance of your mortgage, the modification matches the principal of the debt with the value of the property. Modifications were common after the mortgage crisis in 2008. However, as of January 1, 2017, the Affordable Housing Modification Program, subsidized by the federal government, ended. That means the modifications are much less common now.

Reimbursement or Repayment Plans

If you have federal student loans and can show that you have financial difficulties, you can limit your monthly payments to a percentage of your discretionary income through an income-defined payment plan. These plans can keep your monthly payments low while you make the 120 qualified and necessary payments.

Only ’’Federal Direct Loan’’ loans are eligible for an income-defined payment plan. However, if you have other federal loans that originated under the Federal Family Educational Loans Act or the Perkins loan program, you could consolidate these loans into a new loan — consolidation of the ’’Direct Loan Program’’.

Many solutions to pay off credit card debt can also be used to pay other types of debt. This is particularly true with debt consolidation programs. Also, to get out of debt, geography plays a role. Where you live that matters.

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