Your Credit Debt Relief Center
We provide Solutions for people looking for the credit card debt help. This is the fast and most effective way for you to save money on unsecured debt. If your problem is an uncontrolled credit card debt, in less than 20 minutes you can have a personalized debt solution that can eliminate 40 to 80% of your outstanding debt, eliminate thousands of dollars in interest and late fees. We have solutions to Avoid credit card debt. Our Debt Negotitation Program can.. help you avoid bankruptcy by creating a plan that will mean making only one monthly payment as low as 50% of your current payments. Our Debt Negotiation Program costs are based on an individual financial situation. Your monthly payment will be determined by what you can comfortably afford, and is based upon your level of debt, income, and living expenses. Horizon Debt Group, LLC can offer you a solution to become debt free by utilizing our Debt Negotiation Program.
Debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.
Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an asset that serves as collateral, most commonly a house. In this case, a mortgage is secured against the house. The collateralization of the loan allows a lower interest rate than without it, because by collateralizing, the asset owner agrees to allow the forced sale (foreclosure) of the asset to pay back the loan. The risk to the lender is reduced so the interest rate offered is lower.
Sometimes, debt consolidation companies can discount the amount of the loan. When the debtor is in danger of bankruptcy, the debt consolidator will buy the loan at a discount. A prudent debtor can shop around for consolidators who will pass along some of the savings. Consolidation can affect the ability of the debtor to discharge debts in bankruptcy, so the decision to consolidate must be weighed carefully.
Debt consolidation is often advisable in theory when someone is paying credit card debt. Credit cards can carry a much larger interest rate than even an unsecured loan from a bank. Debtors with property such as a home or car may get a lower rate through a secured loan using their property as collateral. Then the total interest and the total cash flow paid towards the debt is lower allowing the debt to be paid off sooner, incurring less interest.
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