How Does Debt Consolidation Work?

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.

Posted in Debt Consolidation
I initially contacted Brad at Accredited Debt Relief in regard to a financial hardship I sustained as a result of losing my home in the 2007 CA. Wildfires. I found Brad to be a knowledgeable and experienced credit consular that was able to assist me with my financial problems. He was able to adapt his schedule to my needs and gave me the feeling that he cared about my situation and would do anything in his power to help.
Barry S.
I am really glad that I did make that call because if I hadn’t I would be worried so much about the bills and not being able to pay them, along with my health. You explained everything to me and after I talked things over with my husband I realized that this was my best option. I do appreciate your kindness and professionalism. You didn’t make me feel ashamed of needing help, you talked and listened and that made quite an impression!
Hey Andrew! Thanks again for all of your help! All of you have been very helpful & professional. I can’t say enough about how pleased I have been with your services. Thanks again!! Israel
I wanted to take a moment to thank you for everything you have done for me. Over the past week I have had several opportunities to interact with you as we worked through what was for me a very difficult and stressful decision. It might sound simple, but in my experience it is exceptional: You, Andrew, focus on solving problems. You were able to quickly grasp the issue and proceeded to reach a resolution efficiently, while allowing me to maintain my dignity. I have found you to be professional, knowledgeable, upbeat, gracious, patient, and absolutely committed to achieving the desired result and satisfying me, the customer.
Elizabeth C.
Ted has been very helpful and understanding whenever I call him. When I’m in a panic over something he always calms me down and reassures me. He did not make me feel embarrassed or shameful over my debt situation. He is truly a great person!
Every time I have called Tony if he didn’t pick up the phone immediately, he without fail returned all my calls promptly. I feel as if Tony and I have become friends and I couldn’t be any more pleased with the service he has provided me. If the rest of the service I receive from ADR is as helpful and professional as that provided by Tony then I am going to be one grateful and happy camper. I would like to thank everyone involved to this point with helping me through a tuff situation, especially Tony.