Consolidating debt including student loans

After 100 hours of researching and calling debt consolidation companies, our top choice is National Debt Relief, which is one of the most transparent companies we spoke to.

It offers top-notch customer service and its costs and fees are well in line with industry standards.

Furthermore, if you have bad credit, debt consolidation loans may come with high interest rates.

In addition to putting your home at risk, many consumers end up prolonging their debt.

When you begin this process, you set aside funds each month into a separate, insured account.

While you're building up your funds, the company or lawyer you've selected negotiates with your creditors to try to reduce the total amount of debt you owe.

When you start pursuing debt management options, you may get mixed messages from people in the debt relief industry.

It can be confusing because debt consolidation is also used to refer to debt settlement programs as well.

Debt Consolidation: Consolidation is the process of combining all your debts into a single, lower payment by taking out a loan to pay off your creditors.

Companies usually attempt to lower your debt through debt settlement before recommending you take out a loan.

Types of debt vary, and this influences what you can consolidate.

The first thing to determine is if your debt is secured or unsecured. For example, car loans and mortgages are secured debts.

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