Unsecured Debt is any type of debt that is not collateralized by any specified assets in the event of default. This includes credit cards, hospital bills, personal loans, and most store cards. Most Student Loans, Mortgages, Car Loans, Pay Day Loans, and Taxes are all secured debts. There are 3 approaches to consolidation for unsecured debt: debt settlement, credit counseling and credit card consolidation. The last two deal primarily with reducing the interest rate of your debt load. Debt Settlement, however, addresses the issue by reducing your total unsecured debt load. Reducing the total amount of money you owe can help you become debt-free in just 1-3 years at your current monthly payment rate, or even a payment that is lower. Reducing the interest rate alone results in debt-free status in 7-12 years, but it will generally take longer than that at your current monthly payment rate. Settlement can save you the most time and money by reducing the total amount you will need to pay off your accounts.
Debt Settlement utilizes a vigorous debt relief strategy that saves you a lot of time and money while paying your accounts off. A Certified Debt Arbitrator is able to negotiate on your behalf a settlement on your accounts with the creditors. For a free consultation with a certified arbitrator fill out the form on the right.
Credit card debt consolidation is a form of unsecured debt relief where you take out a new loan, and use that loan to pay off your accounts, and then you're left with only the new loan to pay back. A consolidation loan is very difficult to qualify for because it is a secured loan. This means that you have to put up enough collateral to obtain the loan. Let us assist you in finding the best rate you can qualify for, by simply filling out the form on this page.
Debt counseling - A consumer credit counseling service (CCCS) is a program where you work with a "non-profit" organization who will help you lower your interest rates with your creditors. It does not reduce the total amount of unsecured debt. Please keep in mind that although they are a non-profit organization this does not mean that they work for free. The truth is that they will usually receive stipends from the credit card companies for each client and credit card account that they enroll. In reality this means that they actually work for the credit card companies and in turn cannot have your best interests in mind.