Show Lenders That You’re Serious by Getting Help With Debt

Dec 20, 2013 by

It may be difficult for borrowers to convince lenders to help them out with lower interest rates. After all, as a lender, how do you tell if someone is a liability or not? Just because you need a little help from time to time with your debt doesn’t mean that you don’t intend to honor your loan agreement.

If you make a mistake with your payments or have a difficult month just once or twice, you might find yourself with high interest rates and fees. Most lenders use computerized risk assessment systems, which naturally may not take your best intentions into account. While the fact that you are serious about paying off your loans might in actuality affect your overall risk and creditworthiness, many lenders’ systems can’t really take this into account.

From the bank’s perspective, high-risk borrowers need to pay high interest rates to cover the potential cost of default. From your perspective as a borrower, it can feel like the bank is kicking you while you’re struggling to fulfill your obligations.

Debt Consolidation and Sending a Message

The solution to your debt troubles involves sending a message to the bank that it won’t ignore. Signing up for a debt consolidation program is one such message. As the practice becomes more and more main-stream, many lenders see that people who sign up for debt consolidation programs like CreditGuard’s to help get out of debt are lower-risk customers, even if they made a few mistakes in the past. Additionally, consolidation providers negotiate on behalf of their clients to get them lower rates.

In business, actions speak louder than words. While calling a bank and explaining that you’re serious about ensuring that you repay your obligation may have some effect, you may be much more successful by showing how serious you are by getting actual help with debt through a debt consolidation program. It not only sends a message that you intend to pay off your debts in full, but it also shows that you are taking your money situation seriously.

Many people fall into this category, but unfortunately the banks have no way of knowing if you’re one of them. By signing up for a debt consolidation service and making the commitment to pay off your debts, you’re showing your lenders that you are serious about paying off your debts.

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Debt Consolidation: 4 Signs You Might Need Help

Dec 11, 2013 by

Are you in debt trouble?

Are you in debt trouble?

Americans are a proud people. Though we have our moments of charity and teamwork, it’s a predominantly individualistic culture. Because of this, many people are probably reticent to ask for anyone’s help. In a jam? You’ll get yourself out of it. It’s an admirable quality, but it’s important for individuals to know when they do in fact need help. If this sounds like your situation and you’re not sure whether you should turn to a credit card debt consolidation company for a helping hand, here are some signs that it might be time:

Sign 1: Your Phone Is Ringing Off the Hook

If you’re dodging collectors at every turn, you’re probably ready to talk to a debt counseling service about a plan to manage your debt. In an ideal world, you would have turned to professional assistance long before the collectors started calling.

Sign 2: You Have No Extra Money

For many people in debt, living paycheck to paycheck is simply a way of life. This isn’t just a frustrating, unfulfilling way to live; it’s also dangerous. One unexpected trip to the emergency room could send your family spiraling financially into debt. One broken radiator hose could put you on the bus. Remember – having a little bit of wiggle room in your finances shouldn’t just be a luxury but rather a necessity. If you don’t have it, it’s time to create a debt consolidation plan and get you back on track to start saving again.

Sign 3: You’re Stressed Out

Debt and related financial concerns are among the most frequently cited sources of stress in the world. But just being in good company is no reason not to strive for something better. You don’t need to be stressed out every waking moment. Take steps to counter that stress by talking to a credit counselor about your credit card debt.  Alleviating stress caused by your finances can easily be managed, if not eliminated, by consolidating your debts.

Sign 4: High Interest Loans

If you’ve taken out a high-interest loan or a credit card cash advance to pay the bills, it’s definitely time to consider debt consolidation. These loans are only adding to the problem by providing a temporary fix. In the end, you’re left with more debt, more interest and fewer escape routes. If you’re only thinking about taking one of these loans, do yourself a huge favor and talk to a credit counselor first. You’ll be so glad you did and you’ll get relief from your debt troubles far sooner. If you want to get out of debt, get help from experts like those at Credit Guard.

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How Can I Get Debt Relief?

Oct 11, 2013 by

many households are looking for debt reliefYou might be carrying significant debts that take up most, if not all, of your disposable income, making it impossible to save money to purchase a home, a car, or to contribute toward your retirement fund. This problem is made even more complicated when your income is not enough to cover the amount you owe. It’s a familiar situation for many Americans.

Who Can Receive Debt Help with Debt Consolidation?

If you’re making more than one unsecured debt payment every month, then you are an excellent candidate for debt consolidation. Unsecured debts include credit card bills, medical bills, accounts that have been sent to collections agencies, and even some personal loans.

The Problem of High Interest Rates

The struggles you have paying your monthly bills may be the result of interest rates. If your interest rates are extremely high, a great amount is being added to your monthly balances. If your interest rates were lowered, you would have a lower payment, and you would be able to pay off your debt much sooner. Luckily for you, this is exactly what debt consolidation programs can provide.

A debt consolidator those at creditguard.org can help you find debt relief by negotiating with creditors to lower your interest rates, meaning that you can pay the money that is owed in a timely manner. You end up paying thousands of dollars less in interest, and you can get out of debt in much less time than you could without consolidation.

The Problem of Having Too Many Bills

You may also be struggling simply because managing so many different debt payments can be challenging. Having different payments that are due on different days of the month can cause anyone stress. With debt consolidation, however, paying several different bills will become a thing of the past.

Once your debt consolidator has arranged for your interest rates to be lowered, you will no longer pay each creditor individually. Instead, you will regularly pay your consolidator a lump sum of money, and your consolidator will take over the task of paying each creditor.

For all of these reasons, debt consolidation can be a major lifeline for people trying to get out of debt. If you’re struggling with your finances, take action and obtain debt relief by choosing debt consolidation services today.

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Top Four Reasons for Consolidating Credit Card Debt

Sep 19, 2013 by

Debt consolidation is a hot topic for people trying to get out of debt quickly. There is a lot of misinformation out there and many people offer services that seem like debt consolidation but are really something different.

Debt consolidation is a service that puts the responsibility for making monthly payments to all your loans in the hands of the service provider, which is typically a nonprofit debt consolidation company. They will negotiate with your debt holders to get you lower interest rates so you don’t have to pay as much every month. In return, you pay a monthly fee to the consolidation service provider that is less than what you would otherwise pay to service all of your debts.

If you’re interested in consolidating credit card debt with a company like Credit Guard but not sure what the benefits will be to you and your family, read on for the top four reasons for debt consolidation.

  1. Reduced Interest Rates – People who consolidate their credit card debt can achieve savings of thousands of dollars because of reduced interest rates. Debt consolidators have more clout in the banking world because they often handle many account payments for each creditor. They put that clout to work for you and get you lower interest rates.
  2. Improve Your Credit Score – Regular account payments will improve your credit score over time. If you run into a “debt consolidation” service that says they need to loan you money, don’t do it. That is not real consolidation. Applying for a new loan will harm your credit score, whereas debt consolidation only consists of making regular payments to existing accounts.
  3. Consolidate Personal Loans, Store Credit and Student Loans Too – In addition to consolidating your credit card debt, you can also get reduced interest rates on your student loans, personal loans and other outstanding lines of credit. All you have to do is give them to the consolidation provider and pay the monthly fee, and you’ll never have to worry about them again.
  4. Never Forget a Payment – If you have lots of credit accounts, it is very easy to forget a payment, even if you have the money. This can result in a ding to your credit score. With debt consolidation, you just have to remember one payment, and all the rest will be paid!

Clearly, debt consolidation offers consumers a way to get rid of their debt without stressing over the money. Try it out today!

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Get Debt Relief Quickly With Debt Consolidation

Sep 11, 2013 by

On the Internet, you might have seen a lot of blog posts or articles saying that you can get out of debt right now. While “now” is a little quick, the truth is that if you choose debt consolidation, you can reduce your debt load much more quickly than if you simply continued to pay your minimum payments every month.

When you consolidate your debts, you allow the service you choose to make your debt payments each month. In return, you will pay an amount that is less than what you currently spend on debt servicing each month.

Talk to a nonprofit debt consolidation provider like this one, and you will find that it might just be the right path for you.

How Do They Do It?

Debt consolidation relies on the fact that the most reputable providers have much more clout with lenders than the average consumer. Providers can negotiate to lower your interest rates and monthly payments, waive fees and affect other terms in your loan. They pass the savings straight on to you.

It should be noted that debt consolidation is not a new loan. Your debts will still be paid each month. The difference is that you won’t have to worry about forgetting or not being able to pay your debts, which can lower your credit score and reduce your eligibility for major purchases or bank loans in the future. With debt consolidation, you will improve your credit score over time.

While you may not get out of debt right now, studies have shown that people who use debt consolidation can get out of debt up to six times faster than people who don’t use it. They also save thousands of dollars in interest rates. With this kind of service that pays for itself, it’s a wonder everyone isn’t doing it!

Credit Counseling to Stay Out of Debt

In addition to debt consolidation, most service providers also offer credit counseling to help you stay out of debt for good. They will help you put a budget together and give you useful tips to stick with it and live within your means. You will give them your income and expenses, and they will put it into an easy to read budget chart and teach you the fundamentals of household financial management.

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