How to find a decent debt consolidation company?
If you have too many unsecured debts with high interest, then you should consider a debt management plan. By choosing the path of being able to settle your debt and engage in debt relief programs, you will come across an array of national debt relief companies. Get in touch with a debt consolidation company today!
In order to save money and pay off your debt, you should have a company that is going to look after you. Greendayonline is a loan company that is connected to a handful of main debt settlement companies that can really help you.
Which types of debt can Greendayonline help with?
It does not matter if you have medical bills payday loans or personal loans, we will help eliminate debt fast. The loan amount generally needs to be above $1500 for us to assist you. The credit counseling agency will also guide you through the process so you can become debt-free.
Have too many debts?
If you find yourself saddled with multiple debts, it becomes a burden. It’s important to remember that there are several factors you need to consider when it comes to addressing this problem. There are many debt solutions you can find. One solution you can look at is getting a debt consolidation loan.
There are a lot of debts that you could possibly have. It could be a payday loan, which will need consolidation of payday loans, a student loan, a car loan, a residential mortgage, and many more. For payday loan consolidation you can apply here. If you have a student loan, you can also check out the government website.
Ways to consolidate debt
Using a mortgage
Let’s consider the mortgage option. Even with the recent equity erosion in the housing market, you may still have high equity built in your property. You should be able to repay some or all your credit card debt or possibly get a lower interest rate. Of course, there are other factors that may affect your eligibility. They are your current FICO credit scores, income, and other installment debt.
Bigger banks offer various programs and if they cannot offer you the terms you need. You could try consulting an established mortgage broker who has access to less restrictive.
Using a debt consolidation company
Debt consolidation or debt relief program loan is provided by a debt consolidation agency. You should avoid it because in most cases, it will negatively affect your personal credit.
This is because the debt relief company buys the loans you have at a lesser value than what you owe. This can leave a mark on your credit report.
It is also possible to lose or affect your credit score points. This is because not all credit cards may get paid off on time which may lead to having late payments posted.
Using debt consolidation loans
A debt consolidation loan is, indeed, a possible solution when you have become financially overburdened with credit cards or other debts. The process of debt consolidation means taking out a new personal loan that combines a number of your outstanding debts. The purpose of the new loan is to let you pay off the consolidated debts with having only one monthly payment amount to manage.
Quick reasons to consolidate debt
- You can get rid of all your unsecured debt with our debt relief program
- An accredited debt relief company in the united states offer debt management programs that are personalized based on your financial situation
- You can easily get rid of debt from credit card companies and the new loan has flexible debt payments
- If you don’t have a savings account, debt consolidation programs can prevent you from accumulating more debt
- A credit counseling organization can help you pay off your credit regardless of the loan amounts you owe
- Some companies offer money back guaranteed if the service doesn’t work
What are the benefits of debt consolidation loans?
The benefit of debt consolidation loans is the new single monthly payment on the consolidated debt is usually significantly lower than the combined monthly payments.
The new loan is usually made at a lower interest rate than the average interest of the previous ones combined. However, all customers are advised to exercise caution and due diligence when considering a debt consolidation company. On the market, there are debt consolidation services that indeed offer lower monthly payments and interest rates. However, at the end of the day, they may turn out to cost you more money as the loan term is extended for a longer period of time.
Choosing a best debt consolidation company
You should choose your debt consolidation company wisely. Go for the one with a better reputation, with better terms, and with an excellent debt settlement program. Reputable debt consolidation companies negotiate with creditors to lower the total amount of debt owed even before putting together a debt consolidation loan.
They should give financial advice
Rather than only providing a new consolidation loan to cover the existing debt, they should also provide genuine, substantial savings for the indebted customer.
They should have good reviews
Read through reviews of the company from various consumer websites.
They should have a good BBB rating
According to a number of sites that review debt consolidation companies, the highest-ranking company has an A+ rating from the Better Business Bureau (BBB)
It should be accredited by the BBB, the American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA).
They should be transparent
Our company is popular because of its high level of transparency. It is transparent about its fees which the consumer is expected to pay which is 18 to 25%. The average debt reduction savings realized are also transparent — a net of 30% after deducting the company’s fees.
Unlike many debt consolidations or debt settlement companies, our company can help both business and personal debt. Our debt settlement programs and plans can help you get rid of debt within a time frame of two to four years. The minimum level of debt required to qualify for the program is $7,500. We operate in 41 states.
- Better Business Bureau (BBB) A+ rating
Check the fees for debt consolidation companies
Our company offers a level of average net debt savings at 40% while the average fee is 20%. We also offer to consolidate both personal and business loans with a minimum debt requirement of $7,500.
Greendayonline sometimes works with customers with as little as $5,000 of debt, so it’s a good option to explore if you have lower debt levels.
Our website is consumer-friendly. It provides an online customer service chat feature for those who want to ask questions online before making inquiries with the debt settlement company. Our debt retirement plans have a two- to four-year time period. We are available in 38 states.
We have no minimum debt level requirement and our average fees range between 14 and 20%. This is approximately 5% lower than the average fee of most other high-rated debt relief services companies.
We offer services in 42 states. Our services include personal and business debt consolidation plans with a time frame of 3 to 4 years. Our website is transparent and easy to use.
- balance transfer credit
- good credit counseling agencies
- student loans or student debt
- nonprofit credit counseling
- freedom debt relief
- unsecured debt or unsecured debts
- federal trade commission
- debt consolidation program