Consolidating credit card debt student loans
Most debt consolidation services also include credit counseling to help you learn how to be financially prudent.
This payment will be much less, yet will go much further towards getting you free from debt than if you hadn’t consolidated.This is because debt consolidation programs negotiate on your behalf to reduce your monthly payments, lower your interest rates and waive your fees.This translates into thousands of dollars in interest saved, debt paid off dozens of years sooner, and more money going towards important things like savings, rent and groceries.Now that you’re done with school and about to be free from debt, you will need to have a solid grounding in money management practice.If you are concerned that you’ll have to spend the rest of your life paying off your debt, consolidation is for you. A student loan debt consolidation service will set up an account to which you can pay a single, affordable debt service payment.The service will then make monthly payments to each of your loans.
Some consolidators like Credit Guard of America work with both student loan debt and other forms of unsecured debt.
In this case, all of your loans will be paid monthly in exchange for your single debt payment.
Student loans are fast becoming one of the main sources of debt for people throughout the United States.
In April 2013, for the first time, the amount of student loan debt held by Americans surpassed credit card debt, making it the most widely held source of debt.
Unsecured debts like student loans, credit cards, personal loans and medical bills can seem daunting, but there is a solution to help you find relief.
This credit management solution is known as debt consolidation, and it has been used by hundreds of thousands of people across the country to get their lives back and pay off their debts more quickly than they would have ever thought possible. Most people who take out student loans have 10 or more separate loans from various sources, including federal loans, private loans and other types.