What is it? How do I qualify?
Everybody struggles with debt at some point in their life. In fact, many families struggle with it for their entire lives. Over the years, the interest you pay on these debts could add up to hundreds of thousands of dollars.
Fortunately, there is an easy way to recover those lost dollars: debt consolidation. If you feel that interest payments are taking away a large portion of your monthly income, then you may be able to save money by combining all of your debts into one easy, manageable package.
What is debt consolidation?
Essentially, debt consolidation takes all your monthly bills – auto loans, mortgage, and credit card payments – and combines them into one simple payment. Debt consolidation will not only de-clutter your life, it will also lead to a lower interest rate and a more attractive repayment schedule. So, instead of paying a 25 percent interest rate on your credit card bill, you can get that rate lowered to a more manageable level.
Ultimately, this means that debt consolidation could be the one thing standing between you and financial ruin. If you’re struggling to make your monthly bill payments, then it’s time to look for a more affordable solution. Instead of living from pay check to pay check, you could soon be living a healthier, more sustainable lifestyle.
How do I qualify for debt consolidation?
At this point, many of you will be asking yourself if you qualify for debt consolidation. While this answer varies with each individual’s financial situation, debt consolidation remains a valid option for millions of households in the United States. Usually, the consolidation company does a simple check to ensure that you can make payments towards your consolidated loan before sending you an offer.
If you’re already making monthly payments on your loans, then you will most likely qualify for debt consolidation. However, even if you’re struggling to make regular payments, a consolidated loan may lower your monthly bills to a point where it is back within reach. For that reason, debt consolidation is an ideal solution for anybody experiencing financial problems.
Obviously, the only way to ensure that you qualify is to fill out a debt consolidation application. Found online, these forms are free, easy to fill out, and carry no obligations.
Do you qualify for a free, no-obligation consultation with an expert? Click Here to find out.