Consumer Debt Programs

Consumer debt programs exist for one reason and one reason only--to help you get out of debt. Come and see why consumer debt programs are so "interesting."

Consumer Debt Programs

Interested in consumer debt programs? If you're in debt, you can get out sooner than you might have thought with the right consumer debt solution.

The "Interesting" Thing About Consumer Debt Programs

There are a number of consumer debt programs out there these days, all designed to get you out of debt. But perhaps the most interesting thing of all is the fact that most of them do so by keeping you from paying thousands of dollars in interest. Here's how:

• Basic debt consolidation programs do this by negotiating with your creditors for lower interest rates. Then they combine all your accounts into one, and you pay the debt consolidation company a monthly payment which they distribute to your creditors on your behalf.
• A debt consolidation loan does it by giving you a loan to pay off all your creditors, then charging you a much lower interest rate to pay it back.
• A debt consolidation mortgage is similar to a debt consolidation loan, except the rate is the same rate as your mortgage--and you get to write off part of that interest on your taxes!
• Debt settlement gets you plain old deductions in your balances--anywhere from 60-80%--but can damage your credit in the process. In addition, you have to pay the remaining balances off in full right away.
• Student loan debt consolidation combines all of your outstanding student loans into one and dramatically reduces the interest rate. Not to mention the fact that they stretch your loan out for so long that the payments are practically cut in half!

Most of these consumer debt programs will get you out of debt in five years or less with the exception of student loan debt consolidation and a debt consolidation mortgage. And just because your credit cards are paid off, don't get careless and fall into that consumer debt trap again. Get some consumer debt counseling to learn how to stay out of debt.