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      December 10, 2018

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Top Consumer Reviews Articles

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What Is Debt Consolidation?

“Drowning in debt? Give us a call today and we’ll get those creditors off your back for good!”

We’ve all heard the claims from debt-consolidation companies. The catchy television and radio commercials – promising to remove debt and make the endless phone calls from creditors stop – can be enticing for those who truly are drowning in debt. Desperate people can and do fall for these pitches every day, and end up with worse financial troubles than those with which they started.

The Better Business Bureau warns consumers against debt consolidation companies which make the following claims:

  • The ability to remove all debt
  • Warns clients against communicating directly with creditors
  • Offers to pay down debt for an upfront fee from the client
  • Asks client to pay a percentage of the total amount of debt being eliminated
  • The ability to remove negative marks on a client’s credit report
  • The ability to prevent bankruptcy

For every bogus debt consolidation company out there, a legitimate service exists that truly can help consumers who are overwhelmed with debt. But how do consumers tell the difference between a valid company and one that is just out to scam them?

To answer that question, a consumer must first understand what debt consolidation is and what it is not.

The way true debt consolidation is supposed to work is to take multiple sources of debt – such as from credit cards, mortgages, utilities and loans – and combines them into one manageable monthly payment. Properly combining debt can allow the consumer to still meet their financial obligations without draining their bank account each month.

True debt consolidation also should provide certain key benefits to clients who use a debt consolidation service.

One of the biggest benefits to debt consolidation is the reduction of interest rates on loans and credit cards. A big reason consumers get behind on payments and are unable to ever truly pay off debt is because they often are saddled with high interest rates. Even if they make the minimum payment each month, they may never realistically pay off the full amount due to compounding interest rates from month to month.

A quality debt consolidation service will make it a top priority to combine all debt and reduce the overall interest rate being applied to the monthly repayment process. If the company you have chosen does not offer this tactic, then they are not a company with which it is worth doing business.

Debt consolidators also should be able to combine all sources of debt into one monthly payment, and reduce or eliminate all late penalties and fees for their clients.

Why, When, Who The Important Questions About Debt Consolidation

Getting started on the debt-consolidation journey requires asking a few important questions: 1. Why should I use debt consolidation 2. When should I use debt consolidation There may come a time when ...

Published:  Sun, 09 Dec 2018 06:05:00 GMT



Sonoma County executive arrested for student loan debt relief scheme

A Rohnert Park CEO is accused of operating a fraudulent student loan debt relief scheme. He's expected to be in court Monday. Authorities arrested him at SFO Wednesday as he was headed to Cancun ...

Published:  Fri, 07 Dec 2018 18:42:00 GMT



Do You Qualify For Debt Relief

In earlier posts, we've devoted considerable time and energy to discussing common debt related terminology. We've discussed terminology associated with debt consolidation, for instance.

Published:  Thu, 06 Dec 2018 11:03:00 GMT



Tips To End The Year On A High Note Shared By National Debt Relief

There are a number of consumers who are trying to end the year right that is why National Debt Relief shares tips to accomplish that. The article titled "How To End 2018 With Your Finances On A High N...

Published:  Thu, 06 Dec 2018 15:06:00 GMT



Settlement to provide $1M in debt relief for Arizona consumers

Arizona Attorney General Mark Brnovich, along with his counterparts in 41 other states and the District of Columbia, reached a settlement with California-based Encore Capital Group Inc. to reform its ...

Published:  Tue, 04 Dec 2018 13:23:00 GMT



Tips For A Budget-Friendly Holiday Party Shared By National Debt Relief

Christmas is fast approaching that is why National Debt Relief shares some valuable tips on how to organize a cost-efficient holiday party. The article titled "Host A Budget Friendly Holiday Party Wit...

Published:  Sat, 08 Dec 2018 07:01:00 GMT



Debt Consolidation Guide

Whether you're drowning in credit card debt or scrambling to pay student loans, debt consolidation can help get your finances back on track. By combining several debts into one, you may be able to red...

Published:  Fri, 30 Nov 2018 12:30:00 GMT



Affordable Winter Travel Destinations Shared By National Debt Relief

A lot of people are eager to get on a vacation during winter that is why National Debt Relief shares some tips to do make it an affordable plan. The article titled "Best Winter Travel Destinations For ...

Published:  Fri, 30 Nov 2018 07:09:00 GMT



Sonoma County finance executive arrested in $28 million student debt relief scheme

The "Follow This Story" feature will notify you when any articles related to this story are posted. When you follow a story, the next time a related article is published - it could be days, weeks or m...

Published:  Fri, 07 Dec 2018 07:45:00 GMT



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