What is a Debt Consolidation Loan?

Are you looking for a solution to your personal debt crisis? If you have multiple unsecured debts (such as credit cards, medical fees, etc.) with high interest or fees you can take out a loan, called a debt consolidation loan, and pay them off using that loan. You then only own one payment on that debt consolidation loan every month rather than tons of different monthly bills.

The Benefits

Just like everything in life, there are both benefits and disadvantages to a debt consolidation loan. This type of loan is definitely beneficial if you have credit cards and other high interest installment loans to pay off. You can actually save a lot of money in interest fees this way!

A debt consolidation loan is also great if you are having trouble paying all of your regular bills every month. You only have to remember to make just one payment, you can avoid extra charges, late fees, and the bad credit that can occur when you miss payments on your regular bills.

The Disadvantages

Depending on your financial situation, a debt consolidation loan may not be the right choice for paying off your debt. This is why Accredited Debt Relief takes a holistic approach to our debt relief services. We will discuss your financial obligations, what is owed and to whom, and then we will decide on the best course of action for managing 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
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 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!
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.
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.
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!