Consolidating debt christian debt counseling debt
Start with counseling: the first step of a debt consolidation program is counseling.You’ll speak with staff at the service provider to determine whether or not they can help, and to lay out a plan.When you’re struggling financially, those dollars matter.Unsecured loans only: debt consolidation programs are for debt only.Debt reduction services usually offer financial counseling and debt management assistance for consumers.This includes assistance with budgeting, planning and saving.You’ll keep your accounts: with a debt consolidation program, your loans will continue to exist where they are now – you’re not getting a new loan or moving the debt around.You’ll make one monthly payment to your service provider, and the funds will then be distributed to your various creditors.
Instead of paying a fee, you’ll spend time and energy – but you might have more time and energy than money.
When you’ve got more loans than you can keep track of – and you’re having a hard time making payments – a debt consolidation program may offer relief.
Before you sign up, learn how they work and evaluate if you really need to use one.
If you have good credit and sufficient income, a debt consolidation loan might be your best option.
Compare fees you’ll pay for a loan or a program, and decide what’s best.
Consumer debt (or outstanding consumer credit) is the amount owed by a consumer to a merchant or service provider. Problem debt, however, happens when payments can’t be made.