Frequently Asked Questions about Eliminating Debts

Here are the answers to the most commonly asked questions about eliminating debts.

How do you eliminate debts?

We are a debt consolidation service, so we help you eliminate debts by combining your many, high-interest debts into one, simple monthly payment. You can eliminate debts faster in our program because we help you lower your interest rates and reduce your monthly payments. This way, more of your money goes toward paying down the principal instead of interest expense. For more information about tackling your debt, please visit our next page.

How do I apply to eliminate debts?

You can apply to eliminate debts by filling out our free, online application. Our application will ask you for some basic information about yourself, and we will then contact you to give you a quote on our services. You can also ask any questions you may have about our services when we contact you. The application is completely free and comes with no obligation.

What are the benefits of eliminating debts with debt consolidation?

Debt consolidation is an affordable, effective, and quick way to eliminate debts. When you eliminate debts with debt consolidation, you can expect to lower your monthly payments, reduce your interest rates, improve your credit score, and eliminate the hassle of having to pay dozens of creditors each month. Debt consolidation can also help you get out of debt in an average of just 4-8 years.

If I eliminate debts, will it hurt my credit?

On the contrary, debt consolidation actually helps most of our customers' credit because they are able to pay their bills on time and reduce the total amount of their debt. When you eliminate debts, you are improving your debt-to-income ratio, which is a critical factor in qualifying for loans and other types of credit. Debt negotiation, however, does have an initially negative effect on your credit because you must stop paying your creditors for a time. This damage is easily fixable with credit repair and other services, though.

How much does it cost to eliminate debts?

You can eliminate debts with debt consolidation for a one-time commission and a monthly administrative fee. The commission is usually the amount of your first payment. So, for example, if your monthly payment were $200, your first month's payment would be $400 to include commission. Most consolidation services also charge a monthly administrative fee that is either a per-creditor fee or a flat fee. This fee ranges from $10-$40.

Do I qualify to eliminate debts with debt consolidation?

If you have at least $5,000 in unsecured debt, you can qualify to eliminate debts with debt consolidation. For debt negotiation, we usually recommend that you have at least $20,000 in unsecured debt and be at least three months behind on your payments.