Getting a Loan - Frequently Asked Questions

Why Should You Think Twice Before Getting A Loan To Pay Off Your Debt?
In a study of the efficacy of debt consolidation loans, the FDIC concluded that, "…some consumers will increase credit card and other consumer debt after a debt consolidation package is completed, thereby weakening their ability to repay outstanding debts and increasing the likelihood of bankruptcy."

This means that some people in debt who have trouble changing their spending habits may find themselves in greater debt than before the loan - with both a loan and new credit card debt to pay off. Clearly, it is important not only to pay off your debt but also avoid patterns of behavior that will lead additional debt and work against your efforts to regain financial control. You should carefully consider this before taking out a second mortgage or debt consolidation loan.

Click here for a free consultation and learn how much money this service can save you.

How much does this service cost? >>>
Why would my creditors do this for me? >>>
Why can't I just file for bankruptcy? >>>
How Do You Choose A Debt Consolidation Service >>>

How Much Does This Service Cost?
Amazingly, your creditors subsidize all or a large part of most debt consolidation services. Before you say this sounds too good to be true, keep in mind that your creditors are not lowering your interest rate and making it easier for you to make smaller payments out of the goodness of their heart. They realize that if they don't help you out a little, you may file bankruptcy and they will likely collect nothing.

Through debt consolidation services they can at least recoup the principal on your debt. In addition, you will notice that most debt consolidation companies are organized as "non-profit" companies. This allows the credit companies to recoup a significant portion of the "lost interest charges" through tax write-offs.

So take advantage of this great service. It seems to be one of the few true win win situations out there for the consumer.

Contact us for a completely free consultation and a professional credit coulselor will teach you how you can begin saving on your interest charges within a couple of days.

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Why Would My Creditors Lower My Interest Rate and Monthly Payments For Me?
Before you say this sounds too good to be true, keep in mind that your creditors are not lowering your interest rate and making it easier for you to make smaller payments out of the goodness of their heart. They realize that if they don't help you out a little, you may file bankruptcy and they will likely collect nothing. Through debt consolidation services they can at least recoup the principal on the debt.

In addition, you will notice that most debt consolidation companies are organized as "non-profit" companies. This allows the credit companies to recoup a significant portion of the "lost interest charges" through tax write-offs.

So take advantage of this great service. It seems to be one of the few true win win situations out there for the consumer.

Click here for a free consultation and learn how much money this service can save you.

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Why can't I just declare Bankruptcy?
You may feel your debt is overwhelming and bankruptcy is the only way out. Or, you may feel it is the easiest way to start over. Bankruptcy may be your best option, but it is something to consider carefully. A recent study by the University of Michigan found that erasing debt in bankruptcy is vastly under used by consumers in debt. To learn more about consumer bankruptcy we recommend this excellent site.

Before filing you must make sure for one that the kinds of debts that you owe are dischargeable (i.e. eliminated or erased by the bankruptcy). For example, if you used the equity in your house as collateral for a loan, the loan may not be eliminated in bankruptcy.

Credit card debt is typically erased after a successful bankruptcy. Another concern of course is your credit rating, however if your credit is already quite bad, filing bankruptcy may actually improve your credit rating. This is because after filing you will have less debt and can't file again for 6-7 years, both of which make you a better credit risk. For more free personal bankruptcy information, click here.

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How Do You Choose A Debt Consolidation Service?
You want creditors off your back. You want to relax and feel your finances are being professionally managed and your credit is being restored. Our debt consolidation pros will make sure you are matched with a debt consolidation professional that is highly experienced dealing with creditors and lenders and will get the best possible repayment plan for you. Your professional will ensure that creditors no longer call or attempt to harass you. You don't have to deal with creditors.

Let's get started consolidating my debt! >>>

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