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How to Improve Your Financial Health

Saturday, July 31st

How to Improve Your Financial Health

The COVID-19 pandemic has had an unprecedented impact on the financial well-being of many Americans. According to Pew Research, more than half of all non-retired adults predict that the outbreak and its consequences will make it harder for them to reach their long-term financial goals - and that number jumps to over 60% for households that experienced wage or job loss since the beginning of the pandemic. People are worried about making ends meet, paying off debts that increased during quarantine, and even making tax payments on time. Fortunately, there are many services and products available that can help ease your financial health issues and get you back on solid ground again.

Debt Consolidation

This is one of the most popular ways of improving consumers' financial health. Instead of paying astronomical interest rates on multiple credit cards and high-interest loans, you can take advantage of debt consolidation services. This typically consists of a lower-interest loan that you use to pay off other debts in full, resulting in a more affordable monthly payment. Some providers of debt consolidation loans include credit counseling in their services, to help you avoid getting into financial trouble again in the future and to improve your credit history. Click here to see the best Debt Consolidation companies.

Tax Relief

This is a great option if you owe money to the IRS or to state/local tax authorities. You can work with a tax relief service, who negotiates on your behalf to lower the amount that you owe, set up a payment plan, or reduce your tax debt in other ways. If you've been stressing out over paying back taxes, mounting penalties and interest fees, or having your wages garnished, choosing a tax relief provider should definitely be on your to-do list. Click here for the best Tax Relief Companies.

Personal Loans

This type of loan is always a solid choice for almost any financial situation. These loans aren't tied to any purpose and can be used to pay off any outstanding bills or credit lines, take care of rent or mortgage payments, buy groceries, make tuition payments, or anything else you need. While interest rates on personal loans can be high, they're a better option than short-term payday loans and are less likely to leave you worse off financially. Click here for the best Personal Loan providers.

Credit Repair Services

These programs can be used in conjunction with debt consolidation, tax relief or personal loans or as a standalone product. If your credit score is low, due to missed payments, too many credit inquiries, or even resulting from identity fraud, credit repair is a must. These services work with you to get rid of negative factors in your credit history, boosting your score and making you a better candidate on rental applications, employment credit checks, and future loan or credit applications. Click here for the best Credit Repair companies.

Credit Monitoring

Monitoring your credit is useful for every American consumer, regardless of credit score or financial situation. Some services simply track your credit score with one or all of the three major credit bureaus (Equifax, TransUnion, Experian) and give you access to educational resources to stay on top of your credit history, while others take it a step further with real-time alerts if suspicious activity is detected and restoration services if you're the victim of identity theft. Because your credit score is such a critical part of being able to qualify for a mortgage or car loan, to get approved to rent an apartment, or, in some cases, to be considered for a job, you should use a credit monitoring service to protect your financial identity. Click here for the best Credit Monitoring companies.

There are a lot of options when it comes to improving and protecting your financial health, so it's important to do your research when selecting the companies you'll trust to help you. Be sure to choose providers with a positive reputation and a good track record of success, demonstrated by a long list of satisfied customers and preferably a strong rating from the Better Business Bureau as well. Good luck in your quest to get yourself into better financial health!

The Best Debt Consolidation Companies Compare Debt Consolidation Companies Compare Debt Consolidation Company Reviews What are the best Debt Consolidation Companies Best Debt Consolidation Company Reviews

Debt Consolidation Company FAQ

Debt consolidation is a strategy used to help consumers get control over high-interest debt and simplify their monthly payments. Instead of having multiple credit card bills and other accounts to pay, often with extremely high interest rates, debt consolidation reduces those individual debts into a single payment each month.
You may need to have a certain amount of unsecured debt to be accepted into a debt consolidation program (for example, $7,500 or more). If you're struggling to keep up with the minimum payments on your credit cards and loans, you could be a great candidate for debt consolidation.
That depends on the service, but yes: most debt consolidation programs give you a loan to pay off all of your outstanding debts. These loans usually have much lower interest rates and can help you get on top of your financial situation again.
Sure! You could try getting a traditional loan from your bank or credit union, borrow money from friends or family to pay off debts, or work on your side hustle to make extra cash to pay down what you owe. But, chances are good that you've tried that already and still find yourself struggling financially. Debt consolidation could help you handle it once and for all.
It should. One of the biggest black marks on your credit score is having late or missed payments, and consolidating all of your debt into one monthly payment makes it more likely you'll pay on time.
That varies. Some providers don't charge anything for their services, offering counseling and other tools to teach you how to manage your money and pay down your debts. Or, if you're taking out a loan to pay off higher-interest accounts, your fees will include your interest and any other charges associated with your application. Be sure to get your plan in writing before you make a commitment, so that you'll know what to expect.
Most of the time, no. If you take out a debt consolidation loan, it's on you to understand all of the terms and conditions before you sign off. However, there are a few fee-based services that do offer a 100% satisfaction guarantee that allows you to cancel without penalty.
Absolutely. Thousands of people use debt consolidation programs every year to tackle their toughest credit problems. It's a good idea to check out the reputation of any program you're considering: find out what other clients say about their experiences, see if the BBB has rated the company, and determine for yourself if their debt consolidation services are worth your time and (possibly) money.

Compare Debt Consolidation Companies

Select any 2 Debt Consolidation Companies to compare them head to head

  • National Debt Relief
  • Credit.org
  • Curadebt
  • Upstart
  • SoFi
  • LendingTree
  • Upgrade
  • LendingClub
  • CareOne Debt Relief Services
  • Avant
  • American Debt Enders
  • OneMain Financial
  • Debt Consolidation Care
National Debt Relief vs Credit.org National Debt Relief vs Curadebt National Debt Relief vs Upstart National Debt Relief vs SoFi National Debt Relief vs LendingTree National Debt Relief vs Upgrade National Debt Relief vs LendingClub National Debt Relief vs CareOne Debt Relief Services National Debt Relief vs Avant National Debt Relief vs American Debt Enders National Debt Relief vs OneMain Financial National Debt Relief vs Debt Consolidation Care Credit.org vs Curadebt Credit.org vs Upstart Credit.org vs SoFi Credit.org vs LendingTree Credit.org vs Upgrade Credit.org vs LendingClub Credit.org vs CareOne Debt Relief Services Credit.org vs Avant Credit.org vs American Debt Enders Credit.org vs OneMain Financial Credit.org vs Debt Consolidation Care Curadebt vs Upstart Curadebt vs SoFi Curadebt vs LendingTree Curadebt vs Upgrade Curadebt vs LendingClub Curadebt vs CareOne Debt Relief Services Curadebt vs Avant Curadebt vs American Debt Enders Curadebt vs OneMain Financial Curadebt vs Debt Consolidation Care Upstart vs SoFi Upstart vs LendingTree Upstart vs Upgrade Upstart vs LendingClub Upstart vs CareOne Debt Relief Services Upstart vs Avant Upstart vs American Debt Enders Upstart vs OneMain Financial Upstart vs Debt Consolidation Care SoFi vs LendingTree SoFi vs Upgrade SoFi vs LendingClub SoFi vs CareOne Debt Relief Services SoFi vs Avant SoFi vs American Debt Enders SoFi vs OneMain Financial SoFi vs Debt Consolidation Care LendingTree vs Upgrade LendingTree vs LendingClub LendingTree vs CareOne Debt Relief Services LendingTree vs Avant LendingTree vs American Debt Enders LendingTree vs OneMain Financial LendingTree vs Debt Consolidation Care Upgrade vs LendingClub Upgrade vs CareOne Debt Relief Services Upgrade vs Avant Upgrade vs American Debt Enders Upgrade vs OneMain Financial Upgrade vs Debt Consolidation Care LendingClub vs CareOne Debt Relief Services LendingClub vs Avant LendingClub vs American Debt Enders LendingClub vs OneMain Financial LendingClub vs Debt Consolidation Care CareOne Debt Relief Services vs Avant CareOne Debt Relief Services vs American Debt Enders CareOne Debt Relief Services vs OneMain Financial CareOne Debt Relief Services vs Debt Consolidation Care Avant vs American Debt Enders Avant vs OneMain Financial Avant vs Debt Consolidation Care American Debt Enders vs OneMain Financial American Debt Enders vs Debt Consolidation Care OneMain Financial vs Debt Consolidation Care
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