| Product |
Services |
Costs |
Clients |
Notes |
|
Debt Counseling
|
Debt counseling agencies negotiate
with your creditors using pre-set agreements and spread your
payments over a longer period in order to reduce the monthly
payment. |
A one-time enrollment fee plus a monthly
fee. |
People who need assistance paying off
their debts and who can’t qualify for a loan. |
There is no obligation or fee for reviewing
your case with a counselor. It is important to be aware of
the terms and rates of this service before you sign up. |
|
Bill
Consolidation Loan
|
A personal loan can provide you with
up to $15,000 for paying off your debts. Low interest rate. |
Your loan’s interest rate will
be calculated based on the amount you wish to borrow, your
credit standing, and national rates. |
People with multiple debts that they
want to consolidate into one lower interest loan. Borrowers
with good or excellent credit. |
Free loan quote. To qualify, your bankruptcies
must be discharged at least 2 years, you must have a median
credit score of a 580 or higher, and you must have a clean repayment
history for a significant number of months. |
|
Debt Settlement
|
A process where you pay an agency to
negotiate directly with your creditors in the hopes of making
significantly reduced settlements for your debts. |
Usually a percentage of the debt amount
(10-15%) plus an initial fee. |
People who have a large amount of debt
and who already have damaged credit from multiple delinquencies
and negative records. Borrowers who cannot or do not want to
file for bankruptcy. |
Working with a debt settlement company
can result in damaged credit from numerous late payments and
collection records. Consumers should fully investigate the
practices, reputation and costs of working with a debt settlement
company before signing up. |
|
Home
Equity Loan
|
This loan can provide you with the
extra cash you need to consolidate your debts at a relatively
low rate. |
Your new loan’s interest rate
will be calculated based on the value of your home, your credit
standing, and national rates. |
Homeowners who want to use their home
equity to pay off a large amount of debt. |
No-obligation quote. Your home is attached
to this loan. If you cannot make your loan payments for some
reason, the lending institution can foreclose on your home
as repayment. |
