American Debt
Foundation
http://www.americandebtfoundation.com
There are many companies
out there offering "bill consolidation,” also known as Debt
Consolidation, Bill Management, bill consolidation Loans, Debt
Management Plans, Credit Counseling, Credit Management or Debt
Elimination. These companies make many claims that seem almost too good
to be true but that are reality for the right candidate:
- Consolidate your debts into one
low monthly payment.
- Reduce your debt by 40%-60%, in
some cases even more.
- Eliminate interest and late fees.
- Stop harassing and threatening
phone calls.
- Get out of debt in a fraction of
the time.
- Rebuild poor credit
We are dedicated to helping you sift through bogus claims some of these
companies make to find the real benefits that they can provide.
Sometimes a bill consolidation company can provide great peace of mind.
Hopefully this article will assist you in making a better decision in
choosing a company to help you solve your debt problem.
There are two major categories of debt assistance:
Debt Consolidation
and Debt Negotiation.
Each of these can be broken down into several other sub-categories. This
section talks about bill
consolidation.
Simply put, a bill
consolidation service has preset arrangements with almost all of the
major creditors, mostly credit card companies, and some medical &
collection companies. These agreements allow bill consolidation
companies to grant its customers access to much lower interest rates on
unsecured debt that the customer has piled up. These interest rates are
pre-negotiated for people that use the bill consolidation services and
have those same companies as creditors. When you call a bill
consolidation company they reference this pre-negotiated creditor
interest rate sheet and then give you a new payment based on the lower
interest rates they have negotiated with that particular creditor.
Typically this payment is lower than the rate most credit card companies
offer the public and more often than not will save you money on your
monthly credit card bills and simplify your payments if you have
multiple creditors.
American Debt
Foundation
http://www.americandebtfoundation.com