Free debt consolidation in USA
It’s never been easy to choose the right debt consolidation company among the options the market usually offers. There are a lot of companies promising the debt relief, still you shall be careful to choose the right one to entrust your debt and your money to. The following steps will help you with the case:
1. Find the reputable company.
A lot of free debt consolidation companies offer help to people with harsh debts, still not all of them are interested in your debt more than in your investments. They might obtain hidden costs and charges of all kinds, so that their seemingly free help will turn out to be the crash to your budget. So the first thing to do is to make sure you’ve turned to the honest company ready to offer debt consolidation free of charge.
2. No banks or mortgage brokers.
They may try to assure you in the free debt consolidation help they provide; however most of them just give the second mortgage on your property. The main idea of debt consolidation is to help you in paying off the debt, not in putting you under another one.
3. Manage your credits.
It’s wise to look through your credits and find out which are corresponding to the unsecured debts. This paperwork will definitely help you to settle things with the debt counselor and get a good deal about your debt consolidation.
4. Talk to the debt counselor.
This person is meant to help you with your debt consolidation with step-by-step advices. The main idea here is to reduce the monthly payments as much as possible. If you can pay only the half of the fixed sum, the counselor will talk with creditors in order to have your sum reduced.
5. Consider the free debt consolidation.
There are several advantages of the free debt consolidation. Your payment will get reduced up to 50% and your fees for late payment will be cancelled. Also your credit rating will be improved.
6. Pay on time.
This is really important, since the fixed sum of monthly payments has been discussed with you, and it was you who decided to pay this amount of money. Remember that after missing the payment of two you risk on losing the benefits of the debt consolidation program.
Can I get the consultation concerning free debt consolidation programs?
Sometimes the variety of the accessible opportunities seems to be overwhelming. That is the right time to chat with the specialist to use his experience as the guideline in your situation.
Discuss the consolidation options with your bank or credit union
Neither bank nor credit union will charge you for asking the details about debt consolidation options. Your loan application will let the banker know your financial situation in order to make the proposal. Sometimes they can help you, still do not worry if they cannot.
Some of the debt consolidation options are usually not offered by bank. You can ask the credit counselor about them to get all the needed information.
Get the advice from the non-profit credit counselor
This might appear to be the perfect chance to find out, which opportunity is right for you. A lot of people lose their last hope when they are said not to have the opportunity to use the debt consolidation. They feel like it’s the only thing able to save them, however there are a lot of other ways to solve the debt problem. The credit counselor might be the right person to tell you about the options and help to choose the best one.
With the help of this specialist you will form the budget and resort to the optional solution, like debt settlement or any other. Feel free to ask all the important questions and discuss pros and cons of all the options.
Be aware of the debt consolidation scams
Unfortunately not all the people are honest, so are the agencies offering free debt consolidation services in USA. There are a lot of scams among the legal agencies, so you shall watch carefully who you’re turning to. Some of the companies are the bright flowers luring people into the financial trap and getting them even deeper in the financial problem instead of the proper debt relief.
Here are some ways to define the scams:
- They do not obtain the accreditation in the Better Business Bureau, thus they’re not legitimate;
- They do not possess the nice history, so you will find just a few successful debt consolidations here if any;
- Look for the testimonials of the company, take your time to ask friends and colleagues if they consider the company to be a reliable one.
If everything here is fine, you can consider using the offered services.