Struggling with debt is overwhelming enough on its own, but looking at ways to get out of debt can be almost as difficult. A quick search shows you there are a lot of different options to resolve your debt. So, how do you choose the right one?
To find the debt relief option that’s right for you, it’s important to understand how each method works as well as the benefits or disadvantages of each. Debt consolidation is a popular method to make managing debt and paying it off easier.
How does debt consolidation work? What are the pros and cons of debt consolidation, and how do you choose the right consolidation method? Read on to find out.
The basic goal of debt consolidation is to roll multiple debts into one easy-to-manage monthly payment.There are three general methods for consolidating your debt:
Deciding if debt consolidation is right for you can be a difficult choice. Carefully consider the pros and cons of each method of debt consolidation to figure out if it’s a good option for your situation.
Most of the cons of debt consolidation depend on the method you’re using. What could be a drawback for a credit card balance transfer may not be an issue for consolidating through a debt relief company.
Debt consolidation is a great strategy for making debt easier to manage, but it’s not the best choice for everyone. If you’re thinking about debt consolidation, consider these questions to see if it might be a good choice:
The pros and cons of debt consolidation services are often more favorable than other types of consolidation methods. With an A+ rating and accreditation from the BBB, Accredited Debt Relief has helped people just like you consolidate debt and get their finances back on track.
Accredited Debt Relief can help you pay off your debt quickly, so you can finally take the first step toward financial freedom. Get a free consultation today!
© 2020 Accredited Debt Relief. Please note that all calls may be recorded or monitored for quality assurance and training purposes.
* The company is an affiliate of Beyond Finance, Inc. Beyond Finance, Inc., is a servicing provider for most debt consolidation services offered by the company. Beyond Finance's clients who make all monthly program payments pay approximately 68%-75% of enrolled debt (including fees) upon successful program completion. Programs range from 12-48 months. On average, Clients receive their first settlement within 4-6 months of enrollment. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Program is not available in all states; fees may vary by state. The use of these services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Read and understand all program materials prior to enrolling. Additional information for Maryland residents, click here.
Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt consolidation companies.
The company and its affiliates are not lenders, creditors, or debt collectors. This is not a loan. Referral arrangements with our partners make it possible for you to apply for a loan. Annual Percentage Rates provided by partners range from 5.99% to 35.99%.
Testimonials reflect the individuals' opinion and may not be illustrative of all individual experiences the company or its affiliates.