At Accredited Debt Relief we often have customers come to us with tons of debt and no idea of how debt consolidation works. And that’s okay! Because we take a holistic approach when helping you with your current financial situation. This means we provide a one-on-one personalized service with a focus on effectively educating our clients you on all your options – including debt consolidation.
According to Wikipedia, “debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.” This is probably the simplest definition of debt consolidation – one that could use some elaboration.
The successful debt reduction program we have created does not involve you getting a loan. Of course you can always decide to obtain a consolidation loan to work alongside the Accredited debt negotiation program. Many folks have found that simply paying for their debt settlements with a monthly payment into their settlement savings accounts is the best option for them.
When you come to Accredited Debt Relief we take a look at your finances and together, with you, decide what your best course of action is for eliminating your debt. If we decide on debt consolidation, we will generally begin the negotiations with your creditors within 1 to 2 weeks of you signing up with our program. These initial calls will be to let your creditors know that we’ve entered into a partnership to work on reducing your debt.
Once you have started your monthly payments (that’s just one payment a month instead of numerous payments to all your creditors) and established a settlement account and funded it properly, we will start paying off your accounts (this usually happens within the first 6 to 9 months of the program). Depending on your debt amount and the amount of money you can afford to save every month it can take from 24-48 months to resolve your debt.
For more information on how to consolidate your debt, or to schedule a free consultation, “like” Accredited Debt Relief on Facebook or follow Accredited Debt Relief on Twitter. You can also find Accredited Debt Relief on AFCC (the American Fair Credit Council site) or find Accredited Debt Relief on Yellow Pages.