Debt settlement isn’t exactly a debt consolidation program, but involves negotiating with your creditors to settle for less than what you owe. You can do this on your own, but working with a professional has its advantages. Since a professional debt negotiator at a debt settlement company has more experience negotiating with creditors, they’re likely able to get larger debt reductions than you could on your own.
HOW IT WORKS: The qualifying standard is at least $7,500 of debt. You open an escrow account and make monthly payments (set by National Debt Relief) to that account instead of to your creditors. When the balance has reached a sufficient level, NDR negotiates with your individual creditors in an attempt to get them to accept less than what is owed. If a settlement is reached, the debt is paid from the escrow account.

After inputting the consolidation loan information, you’ll head to the second part of the calculator – “Current Debt Information”. In this section, you will put all of the information you have on your current debt. This includes the balance, monthly payments, and the yearly interest rate. This part of the section has room for four credit cards, two car loans, one boat loan, and three other loans. As you can tell, there is ample room for large amounts of different debt to be added. If you have a complex financial situation, this is a great calculator.
If you’re weighing your options and decide that the disadvantages of debt consolidation are too much for you, don’t worry! There are plenty of other options. In fact, you may not even need outside help at all. If you feel you are disciplined and financially stable enough, you might be able to become debt free on your own! There are two popular debt payoff methods for those who choose to do it alone. These methods are called the debt avalanche and debt snowball methods:
Sky Blue’s customer service is consistently lauded by customer reviews and industry publications. The initial evaluation the firm does for all new customers can sometimes reveal cases where a potential customer would be better off simply fixing whatever may be ailing their credit themselves. Remarkably, Sky Blue has been known to inform their potential clients of this in lieu of charging them for services.
Achieving a better credit score can mean qualifying for a mortgage, lower interest rate and overall better terms on a loan or credit card. If you’re wondering how to fix your credit and make yourself more appealing to lenders, there are several ways to improve and repair your credit over time. The best time to learn how to fix a credit score is now, so when you need approval for a loan or credit card, your score is already where it should be.
Personal loan terms can last anywhere from 12 to 144 months, depending on the lender. You can borrow as little as $1,000, or as much as $100,000 in some cases. The loan terms you qualify for will be closely determined by factors including your credit score, payment history, income and current level of debt. To qualify for a personal loan to pay off debt, you’ll usually need a minimum credit score of 600, though a score of 760 or above may give you access to the lowest interest rates.

In some cases, you can also “stack” cards from a single issuer to get even more value out of your rewards. For example, you could pair the Chase Ink Business UnlimitedSM Credit Card (which earns 1.5% cash back on every purchase) with a premium Chase card like the Chase Sapphire Preferred Card (which gets you 2 points per dollar on travel and restaurant purchases). This would allow you to could convert the cash back from your Ink Business UnlimitedSM card to Ultimate Rewards points and enjoy a 25% boost in point value when you redeem them for travel through the Chase travel portal.
Mike Randall is most knowledgeable in the areas of credit scores and credit cards, having written on those topics and others for the past eight years. He graduated from California State University with a degree in English literature, and he has an extensive background in personal finance studies. When he's not keeping BadCredit.org readers informed of changes in the subprime market, Mike’s hobbies include sailing and gourmet cooking.

Pyramid Credit Repair claim that, on average, their work will yield results in 45 to 60 days. For couples seeking credit repair, Pyramid offers an initial discount on their services. Their 90-day warranty can be applied if you’re not satisfied, regardless of the number of negative items removed. You’ll be reimbursed completely. While this warranty is a good selling point, Pyramid Credit Repair is not available in all 50 states.
If you decide that a debt settlement is the right move, the next step is to choose between doing it yourself or hiring a professional debt negotiator. Keep in mind that your credit card company is obligated to deal with you and that a debt professional may not be able to negotiate a better deal than you can. Furthermore, the debt settlement industry has its fair share of con artists, ripoffs, and scams, which is why many people choose to try it on their own first.
Money Management International is a nonprofit debt relief company formed in 1958 and a member of the NFCC. The company provides a wide range of debt relief services, including credit counseling, debt management plans, and assistance with foreclosures, bankruptcy, student loans, home buying, and more. Money Management International offers help online or over the phone 24 hours a day, 7 days a week nationally, with in-person guidance available in 25 states. We ranked Money Management International as the debt relief company offering the best user experience based largely on its 24/7 availability and solid reputation.
Debt consolidation is usually reserved for unsecured debts like credit cards, because these debts typically come with higher interest rates than secured debts like mortgages or auto loans. However, while debt consolidation provides the convenience of one monthly payment, it can be risky. If you’re struggling financially and are unable to stop using credit cards, you could wind up deeper in debt than you were before.
Cobranded airline or hotel rewards credit cards earn and redeem points or miles with specific brands. Points or miles are typically earned and redeemed at a higher rate when you spend with the brand or in certain bonus categories. Points or miles can be redeemed for rewards with the brand and qualifying partners. They often come with the most valuable cardholder benefits such as free checked bags, priority boarding and airport lounge access.
Money Management International is a nonprofit debt relief company formed in 1958 and a member of the NFCC. The company provides a wide range of debt relief services, including credit counseling, debt management plans, and assistance with foreclosures, bankruptcy, student loans, home buying, and more. Money Management International offers help online or over the phone 24 hours a day, 7 days a week nationally, with in-person guidance available in 25 states. We ranked Money Management International as the debt relief company offering the best user experience based largely on its 24/7 availability and solid reputation.
Just like any money option should always weigh your options to see what kind of interest you are looking at and if you are able to pay the loan in the future. The late fees and APR for certain loans can leave you feeling like you are digging your own hole deeper and deeper with the costs. But if Murphy’s law knocks on your door, ExtraLend is a great choice that will make sure you don’t fall short on your next paycheck.
You can make sure that your employees are trained without having all of the knowledge as you do in setting up their own business. All CCA members will get 50% off this price using a special coupon code so that you can train all of their employees in the credit repair process. They will get a training manual and can be listed in our directory as a certified credit repair processor once they pass the CCRP exam.
One of the most underestimated factors of calculating your credit score is one’s credit mix. People tend to not even think about the importance of diversifying their credit portfolio. There is a reason why wealthy individuals always talk about diversifying your credit portfolio – it directly impacts your credit score. If you only have a few lines of credit open, and they all happen to be credit cards, this will not look as good as if you had three different lines of credit, like a credit card, mortgage, and car loan. While it may only accumulate 10%, this is still a significant portion to consider.

To start the process with Debt Consolidation Care you must provide your name, phone number, email, and unsecured debt number. Once submitted you can anticipate a phone call from someone to discuss the actual program available at Debt Consolidation. At the time of our review we attempted to get assistance via the Live Chat but no operators were available to assist. We also noted that the BBB provides an A rating for this company but doesn't list it as a debt settlement provider. We thought this was a bit strange and along with the lack of a transparent pricing structure, minimum debt requirement and the states Debt Consolidation Care survives proved to be disappointing.


 Airline credit cards carry the name of a specific airline. When you use them, you earn miles that you can redeem for free flights or upgrades on that airline. These cards don't offer a lot of flexibility in terms of how you can use your rewards, but they really pack in value with exclusive perks — free checked bags, priority boarding, airport lounge access and more. See our best airline credit cards.
A second option is consumer credit counseling. There is any number of consumer credit counseling agencies available on the Internet or you may be able to find one locally. The best of these are nonprofits. When you contact one of these agencies either via a website or in person you will have a counselor that will spend from 45 minutes to an hour with you discussing your finances. The best of these agencies charge nothing for that service.
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