Debt Consolidation

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   DEBT CONSOLIDATION      

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Here are a few most Frequently Asked Questions

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American Debt Foundation

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 How much does this service cost?

Amazingly, your creditors subsidize all or a large part of most debt consolidation services. Before you say this sounds too good to be true, keep in mind that your creditors are not lowering your interest rate and making it easier for you to make smaller payments out of the goodness of their heart. They realize that if they don't help you out a little, you may file bankruptcy and they will likely collect nothing.

 Will I still receive harassing phone calls?

Upon enrollment into a debt consolidation program your collection calls will begin to dissolve as the non-profit credit counseling agency begins to handle your account.

 How will this program help me?

The debt consolidation program works with creditors nationwide to reduce, and in some cases eliminate interest rates, late fees, penalties. The program will help you become free of debt in the quickest possible fashion while saving you thousands of dollars in interest and finance charges.

 Is this a loan?

Absolutely not! The goal is to get you out of debt, not to dig you in deeper. Borrowing money to pay back borrowed money is the most serious form of financial slavery. This is a reduced interest rate program approved by the banks you currently owe money, they are offering you a better deal through this program. Take advantage of it.

 Will I still be able to utilize my credit cards?

The program is designed to get you out of debt, as such, it is required that the accounts be closed. It will be a voluntary closure however, not a forcible one.

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