- Credit Counseling – best for your credit, can you afford it?
- Get a loan – Behind or over-extended, can't do it.
- Bankruptcy – Rather have a 13 or Settlement?
- Pay creditors directly – If your pay forever plan was working, you wouldn't be looking for help.
- Debt Settlement Group
OPTIONS LEARNING CENTER
> You only have a few options:
Debt Consolidation
Debt Consolidation is the idea of taking out one larger loan to pay off the many smaller debts you may have so that you only have to make one larger payment each month rather than keeping track of a dozen different smaller bills. The idea is to replace the multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. Debt consolidation programs often offer consumers a lower overall interest rate and a larger tax break. These loans may also provide certain tax advantages that are not available with other kinds of credit.
Don’t forget, however, that usually you are getting your consolidation loan through a second mortgage or a home equity line of credit. These loans require you to put up your home as collateral, which means that if you can't make the payments –- or if your payments are late –- you could lose your home.
There are several factors to consider before getting a debt consolidation loan. In addition to interest on the loan, you may also have to pay "points," with one point equal to one percent of the amount you borrow. By consolidating your unsecured debt with a home equity loan, you run the risk of losing your hard earned assets if you default on your payments, you will still pay the full balances on your unsecured debt, and you must also have a low debt-to-income ratio to qualify.
Contact DebtRX today to find out which debt management option is right for you! Call now for a free, no obligation analysis 1-866-601-7857
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"My debt was substantial thanks to my poor choices in money management. In the past 3 and half years DebtRX has seen me through my mothers illness, a bad break up, and a few relocations. It is because of you that I was freed up to deal with these personal issues by not having to worry about calls, letters and drowning in debt. I have been recommending you to people I know that are in the same situation I found myself in. Keep up the amazing work!"
—Patty L.
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