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Debt Consolidation Center

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What is Debt Consolidation

Debt consolidation is a process by which we negotiate with all of your creditors to obtain the lowest monthly obligation needed to satisfy all of your current accounts.

So you pay one "lump" sum monthly which is in turn portioned out to your creditors. This monthly payment will in almost all cases be lower (perhaps by as much as 50%) than the sum of your individual account obligations.

The reasons why our negotiated monthly payment is lower than the sum of your individual accounts is as follows:

We are a non-profit corporation committed to assisting consumers who have had the unfortunate experience of becoming over extended with consumer debt. In addition to our debt consolidation program in which you can become a member of, we also provide you educational information. Our credit counseling site is designed to assist you in taking charge of your credit.

We work with many large creditors and have many clients. Because creditors are receiving payments from us on many accounts, they often are willing to reduce and/or eliminate both interest and late charges to our clients.

Because we are recognized by creditors as a leading provider of debt consolidation services, we can also extend the terms of the incurred debt at a reduced and/or eliminated interest rate with no late fees or further adverse effect on your credit history.

Creditors recognize that people who enter a debt consolidation program are trying to repay their obligations in good faith. Creditors are more willing to extend favorable terms to such clients in the hope that they(the creditor) will avoid the significant expense of turning the account over to a collections firm or avoid an extended drawn out process if the account holder goes through the expense of declaring bankruptcy.

Example of Estimating Savings
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Creditor	Beginning Balance	Total Payments without plan	Total Payments with plan	Savings
Citibank	$2,100.00	$4,106.66	$2,394.00	$1,710.66
Chase	$3,500.00	$7,069.36	$3,885.00	$3,184.36
Discover	$2,700.00	$5,375.24	$2,700.00	$2,675.24
Macy's	$3,100.00	$6,222.32	$3,100.00	$3,122.32
First USA	$3,600.00	$8,297.96	$3,600.00	$4,697.96
Totals	$15,000.00	$31,069.54	$15,679.00	$15,390.54

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