Credit Counseling vs. Debt Consolidation – Which is right for me?
Debt consolidation and credit counseling are similar services that assist individuals in getting out of debt.
Debt consolidation agencies help to minimize interest rates and therefore the monthly payments. The replacement of several monthly loans by a single loan at a lower interest rate and sometimes with an extended repayment period can be of significant assistance to a person in debt. A single secure loan can lead to the interest rates dropping by as much as half. The debt consolidation company interacts with the collection agencies and credit card companies on behalf of their client and along with a reduced rate, they can also negotiate for elimination of late fees and a reduced balance. Debt consolidation is not applicable to secure loans such as mortgage loans and car loans but is very useful for unsecured credit card loans.
Debt consolidation is received well by the creditors who prefer it over bankruptcy. Debtors can get out of debt by using debt consolidation and maintain a good credit record, something which would not be possible if they filed for bankruptcy. Debt...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
