Advantages Of Debt Consolidation

Advantages Of Debt Consolidation

Advantages Of Debt Consolidation

Even in situations where you owe money to several creditors, merging your loans may or may not be the right idea for you. It is imperative that you take the time to consider the pros and the cons of the financial direction you want to take. Some of the benefits of merging your debt include:

  • Savings – combining your credit may help you save a lot of money in the long run. In the short term, you can benefit because you will be paying a smaller amount each month and in the long term you would have paid less compared to the total amount of the loan.
  • Simplicity and hassle free – Combining your debts means that you have peace of mind by tracking a single debt, unlike having to keep up with several loans which can be quite difficult to follow. Moreover, you will not have your creditors calling or emailing you because you would have transferred that responsibility to your lender.
  • Helps you overcome debt – When you consolidate your loans into a single payment, it will make it easy for you to repay all your existing debt. This is a feature that you should not underestimate because it could determine your financial future. When you are juggling numerous debts, it can feel like you are not progressing. However, when you combine your credits, any payment is a step towards a credit-free life.

Disadvantages of loan consolidation

Disadvantages of loan consolidation

Disadvantages of loan consolidation

Depending on how you react to changes in your finances, combining your finances can be either advantageous or disadvantageous. There are a few disadvantages of consolidating your debt. These include:

  1. Difficult to access – This could be challenging to people with poor credit history. However, this is not the case with us because we connect borrowers, even those with low credit score to lenders who will finance their loans. Lenders in our network do not consider a less than stellar credit score as an impediment to access money lending facilities. However, it is important that you meet all the criteria set forth by your lender.
  2. Consolidating your debt is not a solution but a means to an end. This is true if you have poor planning and do not have a long-term financial plan. Combining the debt will help you clear your loans but it is not a solution to long-term financial woes. You should know what got you into this debt in the first place. Once you know the mistakes you did in the past, you can budget and plan for a better future.

What Is The Difference Between Secured And Unsecured Loan?

Difference Between Secured And Unsecured Loan

Difference Between Secured And Unsecured Loan

Credit consolidation comes in two varieties – secured and unsecured loan. In secured loans, the lender will check your creditworthiness and you will be required to provide a certainty of payment by putting down collateral or asset. Perhaps in this category, many people will fail to access this kind of credit facility because of poor credit score. Your poor financial picture may scare your lender. Secured credit is commonly offered by conventional lending institutions such as banks and other financial facilities. On the other hand, unsecured loans refer to money that the lender advances without any collateral.

Will Debt Consolidation Work?

Will Debt Consolidation Work?

Will Debt Consolidation Work?

It is not a guarantee that when you merge debt you will be in a good financial position. If you do not have a sound financial plan even after we help you combine your credits, you may fall into the same trap again. The most crucial aspect to understand is that combining loans will work if you are ready to change your spending habits and begin saving. Once you have managed your loans, the next thing to understand is how to avoid getting into this cycle again. If you can budget and avoid spending on unnecessary items, then you have a good chance of becoming financially stable and debt free. You can combine your loans and get credit counseling to help you know to manage your finances effectively. A credit counselor will guide you on the right way of using your finances to put your financial future in place.  Restructuring the current spending and development of a saving plan are some of the aspects of overcoming financial advance.

We are a trusted company who will connect you to lenders in our network. Lenders in our network understand your needs and will help you overcome debt by giving you loans with suitable payment plans.

 

What Exactly is Payday Loan Consolidation?

In a payday loan consolidation program a borrower hires a consolidation company to negotiate their payday loan debt directly with the lender with the hope of decreasing the overall amount that they must pay back. This can be a beneficial process for anyone who is struggling with payday loan debt from several different lenders or just a large amount of payday loan debt from a single lender. Using a payday loan consolidation company to negotiate directly with the lender, the interest on your loans will stop accruing. If this sounds like a process that could help you then call our toll free number or fill out the application right here at ConsolidationNow.com to speak to a representative today!

Do You Need a Payday Loan Consolidation?

Unfortunately there is no magic equation that can tell you whether or not you need to enroll in a payday loan consolidation program. Only you will be able to decide that you need some kind of financial help. However, you should remember that because of its typically high interest and penalty amounts, payday loan debt has a terrible way of creeping up on you. What once seemed like an easy balance to pay off can suddenly look impossible. A good way to gauge whether or not you may need to consider a payday loan consolidation is if you are constantly receiving phone calls, letters, and/or emails from the payday loan company or a collection agency.

Overview of the Payday Loan Consolidation Process

With ConsolidationNow.com you could be on your way to a payday loan consolidation in no time. Here’s a little more information about the timeline:

  1. Application – Your payday loan consolidation process begins by filling out an online application at ConsolidationNow.com. This application will ask you for general information about you, your finances, and your current payday loan debt. Next, ConsolidationNow.com will connect your information with payday loan consolidation companies in your area for further review.
  2. Evaluation – Then, the payday loan consolidation company will evaluate the information you provided in your application in order to get the big picture. They will want to understand how much your payday loan debt is, who your lenders are, and what sort of interest rates you have currently been given. At this point the consolidation company will open a savings account in your name so that you can begin setting aside a certain amount of money each month that will eventually be used to pay back your payday loans.
  3. Negotiation – Once the savings account has reached a certain balance the consolidation company will begin to negotiate directly with your payday loan lenders in an attempt to lower your payments.
  4. Consolidation – Once the payday loan consolidation company has reached agreements with your various lenders they will estimate an amount of time that it will take for you to pay your debts back. You will then make a single monthly payment to your payday loan consolidation company and they will take responsibility for correctly disbursing it to your payday loan lenders. Once you have completed the payment plan you will be free of payday loan debt and on your way towards financial freedom!

The entire payday loan debt consolidation process typically takes between 6-18 months from start to finish, but will fluctuate due to the amount of debt you have, how much you can afford to pay each month, and how much your consolidation company is able to negotiate on your behalf.

Getting Started With a Payday Loan Consolidation

If you think that you could benefit from a payday loan consolidation then let ConsolidationNow.com help! Start by filling out our easy online application to give us the basics of your situation. If you prefer to complete the application over the phone then simply call our toll free number and we’ll have a representative walk you through it. Don’t let payday loan debt weigh you down for another day – let ConsolidationNow.com help now!

There are different types of student loan consolidation, the main being private and federal loans. Consolidation process for both varies and the common form is private student loan consolidation. Depending on your situation, student loan consolidation can offer you some benefits. The first and foremost is that juggling several loans could be challenging to many people and when you consolidate into one loan, it becomes easier to monitor the loan and repay it on time. There is a high chance that you will get a lower interest rate when you consolidate loans because you will negotiate with your lender on the best loan rate.

Features of Student Loan Consolidation

Features of Student Loan Consolidation

Features of Student Loan Consolidation

There are some main points that you should note when you are considering student loan consolidation. These include

  • The main reason for consolidating the loan is to stay organized. Making one payment is easier than monitoring many small loans that you may end up forgetting or missing payments therefore with a single loan you can easily know your budget and how to repay on time.
  • Consolidating loans with a private lender gives you the chance of getting lower interest and potentially save on costs. You will need a lender with a good reputation and where you can negotiate on the pricing of the loan and get a good deal. A variable loan rate may apply in this case and it could be lower depending on the prevailing conditions. In most cases, private loan consolidation does not incorporate fixed rates, therefore giving the students a wiggle room.
  • You will be in a position to recover financially and make better financial judgment, moving you from the cycle of debt.

According to a recent survey, there is rising college and student debts and this could be attributed to credit crunch, among other factors that causes the rates to rise sharply. Although the figures reflect the current economic status, you can overcome the situation if you have a solid plan and a method on how to get out debt. Student loan consolidation is an avenue where you can organize your finances and make a financial decision that will not affect you in the future. Once you have cleared all your previous loans, you can focus on one loan and know the best way to repay it. Student loan consolidation is the best way to help you overcome challenges that are associated with many small loans with high interest rates.

How to Consolidate Student Loans

How to Consolidate Student Loans

How to Consolidate Student Loans

Student loan consolidation allows the borrower to roll many loans into one big loan. Once this big loan is given by your lender, you can repay all the existing loans and have a single loan to check out. You should contact your lender and understand the terms and conditions that you are being given the loan as well as the repayment plan. We will connect you to many lenders in our network who will fund your loan. It is essential to note that each lender has his or her own interest rate and depending on your loan, you should be in a position to choose a loan type.

  • If you do not have a very good credit score, you should not worry because we are here to offer financial solutions to many people who face challenging situations. You can qualify for loans as long as you have the ability to repay the loan within the stipulated time. The interest rate could be fixed or variable therefore, it is important when looking for a lender you ask what type of interest rate you are dealing with.

Benefits of Loan Consolidation

  1. Benefits of Loan Consolidation

    Benefits of Loan Consolidation

    Convenience is the main advantage of student loan consolidation. Based on the number of loans that you are trying to juggle, keeping track of numerous bills is quite a challenge. If you are a recently graduated student, you will be in a good position to know how the financial world works and manage your bills as well as finances.

  2. There is a possibility that you will get a repayment plan that will suit your financial situation. Therefore, you will not strain during the repayment process. Different lenders offer different loan options and interest rates.
  3. The interest rate of the consolidated loan will be lowered considerably.

Do student loans save you money?

Do student loans save you money?

Do student loans save you money?

The answer to the question varies and it is based on the interest rates that your lender charges you and the fees associated with the loan. We link you to lenders in our network and they will help you make the best financial decision. You will be provided with all materials you need for understanding the loan. You can contact us via email or telephone number to get a glimpse of what is expected.

  • Your lender will negotiate for a better pricing and help you make a better financial choice by incorporating all your loans into one. If you are thinking of consolidating your student loans, you should understand all aspects of loan consolidation before you make the decision to consolidate them.
  • Once you have submitted a fully filed loan request form, we will forward the application to lenders in our network and you will find a suitable lender who will finance your loan.
  • Your lender will contact you as soon as the loan request has been evaluated and a decision has been made on the amount and interest rate that you are supposed to pay.
  • Even with a less than stellar credit history, we strive to connect borrowers to credit facilities that they cannot access in conventional lending situations where having credit scores is paramount.

Which is the best interest rate – fixed or variable?

Which is the best interest rate - fixed or variable?

Which is the best interest rate – fixed or variable?

If you are considering student loan consolidation, you should look at the interest rates being given by your lender. You will know the amount of loan that you are supposed to repay as well as interest. Federal student loans are fixed rates. However, for private student loans, they are mostly variable. You should consider the following.

Fixed rate consolidation loans

  1. They have a higher interest rate from the start. The lender knows that they will not capitalize on interest increases so you are given a universal rate throughout the enure of the loan.
  2. It is ideal for budgeting because you will know the amount of money that you are supposed to repay each month.
  3. It could be the right choice if you value the sense of security that comes with knowing your payments earlier.

Variable rate consolidation loans

  • Variable rate consolidation loans

    Variable rate consolidation loans

    The rates are variable based on the prevailing market conditions. It may fluctuate over time. However, if there is a projected good economic growth, then you may get a good deal that will help you lower the monthly cost of repaying the loan.

  • It could be a good choice if you are willing to take the risk of long-term security to capitalize on the initial low rate.

In summary, consolidating student loans will vary from one lender to another and you should take time to analyze the situation before you make any decision.

Consolidate Private Student Loans

Consolidate Private Student Loans

When you are through with your college and need to go for further education, you may decide to go for private loans as the one provided by the government is not enough. Lenders will offer you these loans to support you in pursuing your higher education but at higher interest rates than government loans. This is because they consider these loans as unsecured. When the time comes for you to start paying back, it becomes a challenge, especially if you have a number of them. This situation makes the decision to consolidate private student loans the best option for you.

Prerequisites for Consolidating Student Loans

  • Prerequisites for Consolidating Student Loans

    Prerequisites for Consolidating Student Loans

    Check your credit rating by looking at your financial reports. Interest rates charged on these loans are dependent on your credit score. You can get a free credit report and know your status. Lenders you find in our network already understand your poor credit score and will not be focused on that.

  • Research and compare the lender. You will find consolidating your student loans with a private lender to be much affordable and favorable compared to banks and credit unions. Compare lenders and identify the differences that can greatly influence your repayment.
  • Take your time to carefully check the terms and conditions of a lender. Our lenders are always willing to assist you. Your questions should be about interest rates, payment options, penalties and fees.

    Checklist for Your Consolidation

  1. Checklist for Your Consolidation

    Checklist for Your Consolidation

    Know your lenders: contrary to government student loan consolidation, private consolidation charges different interest rates on your loans. The rates charged depend on the current rate in the market. Therefore, when the market rate is low, you are assured of getting very low rates and vice versa.

  2. Ensure that you have evaluated and understood your financial needs. Private lenders have varying benefits for loans that you consolidate with them. You may find a lender offering a slightly higher interest but that will be accompanied by higher fees.
  3. Be careful when you want to consolidate private student loans from a lender. This is to avoid signing up for a loan that will make your situation worse. We will be linking you to lenders who have a wide range of options for different financial situations. You will be dealing directly with a lender and that is why you are assured of affordable interest rates.
  4. Understand the extra charges and penalties that you might incur while dealing with a lender of your choice. When consolidating your student loans, it is important to be clear about the extra costs. Some lenders may charge you for an upfront service fee while others may charge you a processing fee for credit history check. This is why it is also important that you get your credit report beforehand.
  5. There are other lenders who may charge you a pre-payment penalty. Lenders in our network want you to clear their loan as fast as you can. They are focused on helping you complete your loan debt and be eligible for loans after you are through with your higher education. Remember that after college, you will still need access to financing hence the need to have a good credit profile. Your pre-payment will work positively towards creating a good credit profile.
  6. A reputable lender should be able to provide you with an alternative when you are late with a payment. You need to choose a lender who understands the ever-changing economic times and create a plan in case you default a scheduled payment.
  7. Remember that lenders are running a business and they are competing. Lenders working with us have regular promotions that will make your loan process even much easier. They have incentives that will also let you save more in the long run. You are free to ask your lender about any current promotions so that you are not left out.

Benefits of Consolidating Student Loans

Benefits of Consolidating Student Loans

Benefits of Consolidating Student Loans

There are various benefits associated with student consolidation loans. These include:

  • The main benefit of consolidating these loans is the opportunity to have one loan instead of several loans. Therefore, you will only be required to pay one monthly payment. You will be having a chance to choose the lowest payment plan especially if you are looking for a long-term plan.
  • The interest rate on these loans may be variable or fixed. Even though they might be higher as compared to other loans, they are worth it. You will not be required to provide collateral.
  • Traditional lenders will look at your credit rating that actually will not be good. On the other hand, lenders we connect you to will be providing you with consolidation loans to significantly improve your credit rating.
  • Do not be in a hurry to choose a lender. Take your time and go through the reviews to find the most suitable lender. Remember that your problem is a unique one and you will only be successful if you choose appropriately. You will be choosing based on your need and your current financial profile. Note that you might be out of college and therefore, you have no source of income. This should play a major role in the consolidation decision you are about to make. When you consolidate your loans, you are actually getting a heavy financial load off your back. Making payments to different companies is quite challenging. You may forget one and then be listed as a defaulter. You do not want to be listed as a defaulter because it will hinder your future financial credibility.
  • With consolidation, you will be able to complete your studies stress-free. When you choose lenders in our list, you will find out that many students have used these loans to get out of their multiple loans.
  • Consolidate private student loans to achieve a similar objective as consolidating government loans. You need to check time, your private lender and loan amount. Your solution is to choose consolidation and have your loans cleared without any paperwork and delayed approval.

 

Best Debt Consolidation Loans

Best Debt Consolidation Loans

 

Debt consolidation is when the borrower merges several small loans into one. Consolidating or merging small high interest loans into one allows the borrower to get a better interest rate with your lender. When you consolidate your debts, you are taking a new bigger loan to repay the smaller existing loans. Instead of having several creditors chasing you to repay their loans, your lender will clear all your loans leaving you with only one loan. In essence, the monthly repayment period is extended and the interest rates are reduced as well. Unlike debt settlement, here you are not reducing the principal amount that you owe your creditor but you are merging several small loans into one to help you concentrate on one loan.

When finding the best debt consolidation loans, it is essential that you understand all aspects about the loan. When you combine multiple debts into a single loan, you reduce the risk of forgetting or defaulting a loan. There are two main reasons why people choose to consolidate their loans these include

  1. Reduce interest rates applied to the debt
  2. Lower monthly payments to make debt management easier

What types of debt can I consolidate?

What types of debt can I consolidate?

What types of debt can I consolidate?

The most common types of debt is unsecured debt include store credit cards, credit cards, fat cards, among others. In some cases, you can consolidate unpaid medical bills with your unsecured debts. It is important to evaluate your financial position and the amount of interest that you are being charged when compared to the overall amount of loan that you are paying. Consolidating debts allows the borrower to have peace of mind and focus on one loan instead of tracking numerous loans that may end up affecting his credit history. You can consolidate all your small loans to allow you to make a sound financial decision and reduce the chances of regular contact from your lender.

Types of debt consolidation loans

There are different debt consolidation loans and you should conduct thorough research. Most people fall into a debt cycle because they do not do their research properly. Analyze and evaluate the terms and conditions of the loan that you are given by your lenders. This way you will get the best interest rate and pay less interest. The common types of consolidation loans include

 

  • Secured loans

 

This is a type of loan that is tied to some kind of collateral, mainly assets that the lender will sell to recover the amount borrowed if the borrower defaults the loan. Many people assume that it is easier to get a secured loan because a property or an asset is in place. However, many Americans cannot get the secured loans because they are often tied to bad credit scores. Credit score is a measure of credit worthiness. It is a figure that calculates your ability to repay a loan considering your assets, liabilities, expenses and income. Qualifying for this type of loan is complex because you have to present papers and other supporting documents.

 

  • Unsecured loans

 

Unsecured loans

Unsecured loans

Unsecured loans are not tied to any assets and in situation where the borrower is unable to repay the loan, property is not confiscated. Many lenders whom we will connect you to offer unsecured type of loan, therefore you should not worry about your less than stellar credit history. Your lender will evaluate the amount and consider all the expenses and other features of the loans that could affect the mode of repayment. You can negotiate with your lender on the type of loan that you want to take before you opt for this type of loan. Debt consolidation through unsecured loan is better because you will not have to repay high interest rates on small loans.

Where Do I Get Debt Consolidation Loans?

Where Do I Get Debt Consolidation Loans?

Where Do I Get Debt Consolidation Loans?

If you need unsecured debt consolidation loan, it is imperative that you conduct thorough research that will help you make a better financial decision. Most borrowers are limited to the brick and mortar lending institutions, which often affects their ability to get affordable loans. We connect borrowers to lenders who will fund your loans. We have a user-friendly and easy to fill out loan request forms. Once you have filled out the loan request form and submit it to us, we will forward it to lenders in our network who will finance the loan. Our customer support team is experienced, courteous and is ready to serve you. They will guide you through the loan request process and answer any queries you may have about the debt consolidation loan. You can check the frequently asked questions page to understand how we operate and how to apply for the debt consolidation loan from us.

Is Debt Consolidation Right Option for You

  • This question varies from one borrower to another. However, it is important that you understand your state laws and regulation on payday loans and debt consolidation loans. Different states have different interest and caps on the amount of interest that a user can get.

Advantages of Debt Consolidation Loans

 

  • You can manage your debt

 

You can manage your debt

You can manage your debt

Debt consolidation loans can help you overcome debts. When you consolidate your loans and manage the repayment process well, you will be in a position to make financial decisions that will get you out of debt. Consolidation your small debts will allow you to reduce the interest rates that are often associated with small loans.

 

  • Reduced interest rates

 

When you consolidate all your outstanding loans into one loan, your lender will negotiate for a better loan interest rate that will help you overcome high interest rates that are common with small loans. There are several reasons why creditors will accept repayment with a lower rate. The common reason is that they want their money back even if it is with less profit. Your lender will convince your creditor that your loan will be repaid within the stipulated time and you can work towards the repayment process.  

 

  • Affordable monthly payments

 

Affordable monthly payments

Affordable monthly payments

Many states have legal limits when it comes to loans. You should understand the interest rate and caps in your state to know what you are into. Even if the state does not have legal provisions, your lender will work towards a better monthly payment to allow you repay the loan without affecting your regular lifestyle.

 

  • Single monthly payment

 

There is nothing more liberating than having to pay only one installment a month. When you consolidate your loans, you will be in a position to plan for a solid financial future. A single payment means that you have reduced the burden of following up with several small loans and you are repaying one loan.

 

  • No collection calls and emails

 

Once you have consolidate all your debt, you will be dealing with one lender, therefore avoid harassment from creditor who will make regular effort to collect their loans.

 

Debt Consolidation Loan for Bad Credit

Debt Consolidation Loan for Bad Credit

When you have multiple debts and your creditors require different amount of money at different times of the month, you may find it hard to co-ordinate all your payments to work with your budget. In such a case, consolidating your debts into a single loan can be the easiest and simplest way to get out of debt. Once you have merged your debts, you do not have to follow up on several creditors because your lender will pay off all your debts and you are left with one loan to manage. Before you merge your debts, it is important to plan your finances effectively. This will help you get out of debt and overcome problems that led you into the debt in the first place. You can request for a consolidation funding using the form on the website and let your lender assess your ability to repay the loan.

Once the debt has been approved, your lender will disburse the amount into your checking account or pay off all your loans. Credit report is data that shows the ability of the borrower to repay the loan on time. It determines the creditworthiness of the borrower. If you repay your loans regularly, then it means that your report is good and you are a low-risk borrower. If you do not pay your loans on time, it will reflect on your report. This will negatively affect your ability to repay the advance amount, and you will be labeled as a high-risk borrower. Even with a less stellar score, you can qualify for financial help if you meet the requirements from your lender.

Where Can I Borrow Debt Consolidation Loan For Bad Credit?

Debt Consolidation Loan For Bad Credit

Debt Consolidation Loan For Bad Credit

You can merge your debt when you feel that it is becoming a challenge to deal with, especially if you have several debts or you are late in repaying the debts on a regular basis. We are connected to a wide network of lenders who will finance your loan request. Merging your loans is an essential step towards dealing with loan systems and repayment.

Ø  If you have bad credit, you should not be worried because we connect you to lenders who will finance your loans. Many people have poor credit scores and therefore cannot access credit facilities from conventional lending systems. Banks and other facilities need collateral or assets from the borrower for any loan taken.

Ø  Lenders in our network offer unsecured loans, which means that you will not be required to offer your asset as collateral. Before you choose to consolidate your debts, it is important to understand what brought you into this debt in the first place. Once you understand your financial mistake, you will be able to make better decisions in the future.

Debt consolidation for bad credit is beneficial to borrowers because it will help you monitor one loan unlike having to deal with multiple small, high-interest loans. Features of credit merging include:

  1. Simplify your repayment plan: The main benefit of advance consolidation is that the borrower has only a single payment to make. Therefore, you will not fail to repay the loan within the stipulated time. Tracking of loan is a vital aspect that determines how long it will take you to repay the loan. Even if you have poor credit score, merging all your loans will help you simplify the repayment process.
  2. Lower interest rate: Unless your lender is going to negotiate for a lower interest rate, it does not make sense for you to consolidate your debt. We connect you to lenders who will negotiate for a better deal from your creditors. With a lower interest rate, you can repay the credit with ease. Most small loans accrue high interest rates, which makes repayment difficult. However, with a single payment, you will be able to repay the loan on time.
  3. Saves money:  although this could depend on the terms that you are given by your lender, merging you loans will shorten your repayment period, thereby saving you money in interest and other charges associated with the loan. It is imperative that you negotiate for better terms with your lender.

The most important aspect in dealing with credit is to understand all the dynamics in the financial sector. If your current financial situation requires you to have a low interest loan, then it is important to talk to your lender on lowering the interest rate. Make sure you thoroughly consider all financial aspects before making a decision.

What If I Have Bad Credit And Want To Consolidate My Debt?

Have Bad Credit And Want To Consolidate My Debt

Have Bad Credit And Want To Consolidate My Debt

If your bad credit score is keeping you from debt consolidation, do not give up yet. We will connect you to lenders in our network who will fund your loan even if you have less than stellar credit history. With patience and discipline, you can use merging of debts as a solution to deal with huge small loans. There are several aspects you should consider before making a decision to consolidate your loans. When you understand the source of your financial woes, you will be in a position to overcome your debts. The main features that you should look into include the following:

Ø  Identify why you have a low credit score. Look at the reasons why you are in debt. If you have poor financial habits that cause you to be in debt, then you should consider changing them to improve your spending.

Ø  In case there are any inaccuracies in the compilation of your report, you should inform your credit bureau to relook into your finances. You may want to inform your creditor that there could be some issues with your credit history. If you have the right records, then you should take them to your credit bureau.

Ø  Change habits that cause your credit score to fall. It is essential that you come up with a plan to deal with your long-term financial problems.

Ø  Improve your credit score. You should follow up by being proactive in improving your credit score. You can pay off all your debts within a short time and once you have lowered your debts, negotiate with your lenders for a better interest rate. Improve your finances and do not use the loan as a solution to your long-term financial problems.  

 

School Loan Consolidation

School Loan Consolidation

Time has come and you have just graduated from college. You are done with all the stress related issues of studying and having to meet deadlines on a daily basis. There is a great feeling of achievement as you have your certificate. However, this is only the first part that is determined by time. The next task you have is to clear your school loan. After completing your long years of study, the only thing you are thinking of is a long vacation. Unfortunately, you have to pay back the credit that helped you out with the high cost of education. This is not an easy task as you will require a source of income. Due to this need, we have partnered with lenders who offer school loan consolidation services to graduates.

How To Consolidate Your School Loans

 

 

How To Consolidate Your School Loans

How To Consolidate Your School Loans

  1. Consolidating your school loans will make your repayment process simple and easy. If you have found a new job, you may have found out about the debts you have. With several bills for different loans, it is possible to get confused. With debt consolidation, it means that you are bringing together all your debts into one single debt. You will only be responsible for one monthly payment and not different ones for the individual school loans you have.
  2.  We will connect you to private lenders who will review your financial profile before they offer you a consolidation loan. They will go through all your loans and create a single debt amount. After which, they will offer you an amount that will pay off all your school loans. You will then be paying a monthly installment to them as a repayment of their debt. This process makes it both easy for you to manage your financial obligations and also allows you to enjoy a new loan with a low-interest amount. At the end of the repayment period, you shall have saved yourself some cash.
  3. If you are worried about the costs of your school debt, it is all upon you to search our broad network to find a reputable lender. Lenders working with us have affordable repayment plans, extension options and no credit check. School loan consolidation is much cheaper and faster as compared to paying your loans differently.

Important Factors to Consider Before Consolidation

 

Factors to Consider Before Consolidation

Factors to Consider Before Consolidation

  • You can do your personal credit check by acquiring and reviewing the freely available credit report. Banks and other financial institutions are very strict when it comes to credit scores. However, lenders in our list will work with you even when your credit score is poor. You will be able to compare each lender to find the one who fits your situation.
  •  Check out your monthly incomes and all your current expenses. The amount you earn will also help you choose the appropriate consolidation loan. You should be able to comfortably pay your monthly installment and other bills from your income. It is a new opportunity you have and your aim is to pay on time without defaulting.
  •  Check out the interest rate offered on the particular loan. Choose the lowest and suitable interest possible. Your objective should be to work within a budget and not borrow too much. When you borrow what you need, it will be easier to pay back.
  • Take your time to check out the as many school loan consolidation lenders as possible. This will help you decide the most appropriate lender. You have just landed on your new job and you do not want to begin by having a heavy loan on your back.

Consolidation Options

 

Consolidation Options

Consolidation Options

  • Consolidation is not a difficult process as long as you choose the right lender. You should focus on settling for a plan that will reduce your borrowing cost. A plan that is convenient for you on the repayment part. Lenders in our network are highly experienced. They have extensive experience and hence will definitely sort your case out in the best way possible. Just go through our list and write down your lenders of interest and then make a comparison.
  • Your search should first start with preparing a list of lenders offering school loan consolidation. After listing, you can then begin by looking through their individual profiles and making your queries. Look at what they offer – interest rates, time span, amount offered, promotions and repayment plans. Ensure you can identify the difference between one lender and another. With enough information, you will make effective comparisons and finally settle for a lender who fits your requirement. You can even find a lender willing to offer you incentives in case you maintain regular remission of the monthly repayments.
  • The complete terms and conditions should help you make the right decision. Your lender should be affordable and flexible enough to accommodate your case. Ensure you understand what happened when you default or when you have prepayments. Your lenders should be able to offer you a waiver when you decide to pay the full loan amount before time. Lenders like those working with us will not charge you because you made a prepayment on your loan.

How Consolidation Works

 

How Consolidation Works

How Consolidation Works

  • Although credit consolidation is the most effective strategy for dealing with several student loans, it is essential that you stick to the repayment plan agreed you have agreed with your lender. Missing out on a payment is not healthy for your general financial profile. You need a good profile for the future.
  •  Consolidation will ensure that you do not worry about handling several payments at the same time. You will be responsible to only one lender who will expect you to remit a certain amount towards the repayment of his or her loan. Your monthly deduction will be low as a result of the lower interest rate charged.
  • It is important to know the difference between private and government credit consolidation. Lender in our network will be able to show you all that you need to know. You will know that private credit are based on credit while government credit are not. Lenders will be offering these two types of loans with different but accommodating terms and conditions.
  • You will be liable for a grace period. When you consolidate your school loans during this time, you are likely to qualify for an even smaller interest rate. Therefore, you should be aware of this period and take advantage of it to clear your school debt.

Generally, any debt would affect your living style because you feel obliged to deal with it. If your debt is school loan, then you can start your journey of relief by loan consolidation. When you carefully search through our network of lenders, you will find your appropriate choice. You will no longer have the burden of checking out your statement in order for you to find out how much you are paying out. Actually, it is more time-consuming compared to consolidating. All the consolidation loans you will find have one main goal. Lenders offer their loans with an aim of helping you clear your school loans at once. You will not regret your decision to consolidate your debts by accepting an offer from one of the lenders on our list.

debt-consolidation

debt-consolidation

Changing economic conditions and a rise in cost of living has left many people with poor credit scores. Less than stellar credit history means that you will probably not qualify for conventional loans. Conventional lending institutions such as banks and other credit facilities will require that the borrower has a good credit standing for them to advance any type of loan to you. However, given the current economic situation, credit crunch and change in world policies have left many people with poor credit scores. They have limited options when it comes to seeking loan facilities. This is very difficult for people with poor credit scores. We offer an avenue for you to find credit financial credit facilities to fund your financial emergency. The most crucial factor is to check out the interest rates charged on the loans. This will determine the amount of the loan that you will repay in the end.

The only way that you can get out of the viscous cycle of debt is to consolidate all your loans and this will help you overcome the loans easily.  Debt consolidation allows the borrower to merge all the debt obligations into one. This makes it easy for you to manage your loans through easy tracking and monitoring of a single loan. You can do this by borrowing a loan on your own from one of lenders in our network. There various benefits of debt consolidation these include:

 

  • Reduced debt

 

Reduced debt

Reduced debt

You can reduce overall debt balances and the rate of interest rates considerably when you choose to consolidate your loans. Small loans are mostly associated with high interest rates and this could be challenging to the borrower. Apart from features such as rollovers and other increments to your loan, other additional charges may make the loan repayment process difficult. However, when you choose to consolidate your loans, it will be easier to manage the loans and you can get an excellent opportunity to negotiate with your lender to reduce the outstanding balances and give you a manageable loan interest. Even in situations where you are not lucky to have the lenders convinced to have a reduced amount of payment in the final statement, consolidating your debts will allow you to reduce the interest charges to a comparatively lower level.

 

  • Favorable repayment terms and conditions

 

Favorable repayment terms and conditions

Favorable repayment terms and conditions

A major benefit of debt consolidation bad credit is that the repayment terms that your lender will give will be more favorable for your situation. There are no rollovers, other penalties associated with late repayment, or charges of the conventional loan set for you when you request a loan from our website, we will connect you to the lenders in our network who will evaluate your ability to repay the loan before advancing it to your account. Your lender will mediate on your behalf with lenders to give you a better interest rate and the repayment process will be smooth.

 

  • Smaller monthly payments

 

When you opt to use debt consolidation loans to clear your debts, you will be in a position to deal with any emerging financial challenges that may arise. Your lender will review all your financial obligations and income to ascertain the right amount of loan interest that you will repay.

 

  • One monthly payment

 

It is usually quite stressful for a borrower to deal with a string of loans and manage them effectively. When you have to make multiple payments every month, you are left reeling in worries and check book monitoring several debts. By consolidation, you can say goodbye to stress associated with several small loans and you are able to make single monthly payments. As part of the process, the interest rate and the payment will fit into your budget because you will not have to deal with high interest rates anymore.

 

  • Waiving additional charges

 

Waiving additional charges

Waiving additional charges

Another benefit of debt consolidation loans bad credit is that the process will allow you to alleviate high penalty charges that are associated with small high interest loans. Your lender pays off all your penalty charges and extra charges and you will be in a position to repay a loan that is manageable. The first thing that your lender will do is to negotiate with your creditors on the best loan interest and reduced charges. In most cases, your lender will agree with your creditors to waive off all sorts of penalty and charges associated with the loan.

 

 

  • You avoid dealing with creditors or collection agents

 

It is evident that consolidating your loan will help you get rid of collection calls and emails. If you consolidate the debts, your lender will repay the loan in full and this means that you will not have to question payday lenders and debts of your own. Your lender will be your representative and you will only repay one loan with a single monthly installment.  Your lender will negotiate all your loans on your behalf and deal with any emerging issues.

 

  • Chance to improve your credit score

 

Chance to improve your credit score

Chance to improve your credit score

One of the main benefits of debt consolidation is that it provides you with an excellent opportunity to repair and improve your credit score. However, in this context, you have to be careful because you should repay all your installments on time. When you consolidate your loans, your lender will make a positive reporting to credit bureaus if you are making the repayment on time. Avoid complicating the scenario by failing to repay the loan on time.

  • Debt consolidation presents the borrower with a chance to bring finances back on track through budgeting and repayment of loans on time. In essence, your lender may give you an insight on how to manage your finances as well as how to get out of debt.

A common mistake that many people make is that they want to consolidate their debts and use it as a solution to their financial problems. Essentially, you should use the debt consolidation plan as a platform to get your finances back on track. We advocate responsible lending and you should have a concrete financial plan that will help you overcome financial burden.

How does consolidation help your financial situation?

When you consolidate all your debts, you will be in a position to look at the loans on a different perspective and make a better financial judgment. Debt consolidation loans do not come with the need to have collateral on the loan. This makes it easy because you won’t have to put your assets or property on the line to get the loan. Your assets will be safe and you can find a solution to long-term financial crisis.

Request Procedure

Request Procedure

Request Procedure

The procedure of requesting for debt consolidation is pretty simple. All you have to do is fill out a simple loan request form on our website and we will forward all the information to reputable lenders in our network. Your lender will then evaluate your request and disburse the money to your active checking account or repay all your loans directly. Once your lender has all the necessary information you will then move to the next part of settling all debts and have a simple monthly installment.

 

The facts about consolidation are quite open and its impact is also clear. When you consider consolidation during your stressful financial time, you will surely appreciate its importance. Actually, you will find it relieving both financially and emotionally. Being in a financial crisis is something that you do not want but at times you cannot avoid it. Therefore, you should be informed of the different ways of coming out of your situation. Consolidating is one of the most effective methods you can apply during your financial hardship. When you consolidate, you are combining all your debts into one large amount. You will find lenders offering you consolidation options with lower interest rates for a given period of time. With lower interest rates, your monthly deduction will decrease compared to paying different loans differently.

Why you need to consolidate your debts

Why you need to consolidate your debts

Why you need to consolidate your debts

It is important to consolidate your debts because it will enable you to pay them off fast and efficiently. You will be able to stick to your repayment plan and still have your credit cards working without any unnecessary cancellations. A lender will consolidate your debts and therefore, you shall be cleared of your multiple loans.

Factors to remember

  1. Factors to remember

    Factors to remember

    Before you consider going for consolidation, you first need to ensure you understand what it is all about. Fortunately, lenders in our network will offer you as much information as possible for you to understand. You will be entering into an agreement such that your lender will be providing you with the cash to pay all your other combined. He will be expecting you to abide by the new terms. However, it does not mean that you are free of debt. You are just subscribing to a new single loan with better terms.

  2. For you to acquire such a loan, you need to assure your lender that you are capable of paying back as agreed. Lenders are interested in knowing your regular income. They want to be sure you have a regular income that you will be able to afford the monthly payments. At times, you can also opt to show that you have collateral. If you are an entrepreneur, you can also choose to include your assets while filling up your request form.
  3. Be sure to enjoy low interest rates than those you already have on your debt credit cards. You might also find a lender who starts up with low rates that will rise after sometime. The lenders you will find with us have different packages.
  4. There are several lenders offering consolidations services. You only need to do a little research on the long list before you settle. A little research will help you choose the most suitable lender for your case.

Benefits of Consolidating

Benefits of Consolidating

Benefits of Consolidating

  • You will be able to achieve and maintain a good credit rating. The task is for you to ensure you are up-to-date with your repayments. When you decide to pay your loans differently, you are prone to defaulting one. Any type of default can impact on your credit history negatively hence making it difficult for you to qualify for loans in the future.
  • You will have peace of mind when it comes to finance. Before consolidating your debts, you are likely to be struggling with paying them off. Considering that you have other bills to pay, the situation can be very disturbing. If you are in such a situation, then bringing together all your debts and being responsible for only one is what can give you peace. It will be comfortable to build the monthly repayment into your budget without missing out on some of your essential expenses.
  • You should note that while in your consolidation process, it is essential to be disciplined. Watch how you spend your cash during this period, especially on your credit cards. Ensure your accounts are also active throughout the process so that you build your credit profile for future use.
  • The collateral advantage makes consolidation even better. If you can produce collateral then lenders will be willing to offer you more. You will pay lower interest that eventually reflects on the amount you will have saved at the end of the process.

Consolidation Methods

Consolidation Methods

Consolidation Methods

There are several methods offered by lenders to suit a wide range of financial cases. You will find those using the credit card consolidation or debt personal loans options which are both effective. All the methods have unique benefits and it is important to find what fits you and your debts. When you choose the debt personal loans, you will have a direct and convenient method to sort out your problem.

Features of Consolidation Loans

  • Features of Consolidation Loans

    Features of Consolidation Loans

    They are low-interest loans: before requesting for a consolidation loan from a lender, always check your current financial status. Most lenders want you to have a high credit score but lenders in our network do not consider that as a major factor. They will be looking at your income statement and will be able to offer you a loan with installment repayment options. With this, the interest will definitely go low. The longer payment period also makes your monthly interest payment less and affordable. Lenders are aware of your situation and would not want to make it worse. They are aiming at building a business relationship with you. Your satisfaction is the major factor and therefore, they will be offering you flexible terms for you. They have the professional capacity that enables them to calculate very low interests compared to other lending institutions.

  • They have simple and affordable repayment plans: if you do your research properly, you will find a lender with the appropriate assistance you need. Depending on how much you are comfortable paying on a monthly basis; your lender will offer you a suitable plan. You do not want to settle for a plan that will only make you default and create a bad profile. The interest you will be paying will be constant hence you will be able to fit the repayment amount into your regular monthly expenses.

Financial crisis is not a strange thing, considering the ever-changing economic times. The times are hard for many people. You will find most people trying to counter the serious effects of these hard times by doing more than one job. If you cannot, then you may at times find yourself in debts. When in a lot of debt, consolidation is the most effective way of keeping afloat. You can manage your regular finances even while in debts. Many people have consolidated their debts through lenders in our network. Consolidating is the way to go now, especially when lenders are not strictly focused on your credit history. They want to help you sort out your crisis as fast as possible and at the same time help you build your credit profile. With their simple terms, it is unlikely for you to default payment. You will find it easy to pay your monthly repayments without worrying of whether you will miss one.


 

 

Consolidate Federal Student Loans

Consolidate Federal Student Loans

When you choose to consolidate federal student loans, the government will pay the loan off and replace it with a direct consolidation loan. You are eligible if you are a graduate, have left school or dropped below half time enrollment. Merging your student loans will allow you to focus on a single debt without having to follow up on several small loans. You will be given a new fixed rate that is calculated as a weighted average on the previous prices and rounded up to the next 0.125 %. You will be given a new loan term and based on your ability to repay the loan and you can overcome the debt within a short period. Your repayment period usually starts within 60 days once you begin your consolidation plan.

How To Consolidate Federal Student Debt

How To Consolidate Federal Student Debt

How To Consolidate Federal Student Debt

Once you have logged into the website, choose the loan consolidation tab. Once you have selected loan merging, then choose the type of the loans you would like to consolidate. You can consolidate all your loans or just a few. However, financial experts recommend that you merge all your debts to avoid further complication. When you merge your debt, you will have only a single payment to make.

  • Choose a repayment plan for the new merged credit. You have to research to get details on the loan and avoid any future complication. The standard repayment plans can last from 10 to 30 years. For working individuals, you can choose an income driven repayment plan.
  • When you choose an income driven plan, you will be required to provide more information to access your tax information. You can submit a recent federal tax return form to your loan servicer.
  • Once you have completed the loan request process, submit the form and let us find you a lender to finance your loan repayment.

Advantages of federal student loan consolidation

 

  • Access to benefits

 

Advantages of federal student loan consolidation

Advantages of federal student loan consolidation

Only federal loans that use direct loan program will qualify for PAYE or pay as you earn, public loan forgiveness, income-contingent repayment and revised pay as you earn. Consolidating your federal loans is essential in overcoming debt.

 

  • Avoid debt cycle

 

Merging federal loan that is in default will restore your ability to repay all your loans. If you are merging your loan for the purpose of recovering from default, then it is recommended that you choose an income driven plan or full monthly payments to avoid complications that are associated with this type of loan.

 

  • Simplified student debt payments

 

This is a major benefit for consolidating your debt. Especially if you have multiple federal loans, merging them will make your life easier. Keeping up with numerous loans is quite difficult for many people, however when you consolidate your loans, you will be dealing with only one loan. With the federal direct consolidation loan, you can merge several student loans into one. Conduct thorough research on the loan before signing up for it.

Requirements for Direct Consolidation Loan

Direct Consolidation Loan

Direct Consolidation Loan

You are required to include at least one direct loan that is in repayment period in the consolidation to qualify for a direct consolidation loan. Consolidating federal student loan under the direct consolidation loan program is an avenue to get out of loan default. You should contact your lender on the requirements on the loan. In essence, the common requirements for the loan are that you have been repaying several loans and need to merge many student loans into one. Debt management is a challenging aspect to many people and you should look into loan consolidation programs to merge all your loans into one.

 

  • Interest rate

 

This is the most crucial aspect that you should consider when you want to merge your loans. Federal loans should have a fixed interest rate, the rate is based on weighted average. When you want to consolidate your federal loans, talk to your lender to find the right loan plan to clear your debts. Dealing with a fixed interest rate is easier than a variable interest rate.

 

  • Repayment

 

With direct consolidation loan, the repayment period starts immediately after the payment is due once your lender disburses your loan to your checking account or pay the loans. You are required to make monthly payments on the current loan. Servicing one loan is easier than dealing with multiple loans that are usually difficult to manage.

 

  • Term

 

terms-and-conditions

terms-and-conditions

The repayment term of the loan is important because it will determine the time that you will be in debt. A shorter repayment term may mean a higher interest rate. In most cases, you are required to repay a fixed amount on a monthly basis.

  1. If you are considering making prepayments, then you should consult your lender on the best way to deal with such a situation. This way you will avoid any complications that may arise in future. Repaying a loan on time increases your credit worthiness because your lender will see you as a trustworthy person.
  2. It is essential that you use the services of an experienced lender. When dealing with federal loans, there could be challenges here and there. However with a lender who understands the loan requirements, you can clear the loan with ease. We work with lenders who have been in this industry for a long time. Your lender will offer you a customized plan to deal with your loan.
  3. We have an experienced customer support team who will guide you through the loan request process and you can ask questions that you may have about the loan. Moreover, you can look at the frequently asked questions section for further guidance on how to make the loan request. We would like you to overcome debt and that is why we encourage responsible lending habits.

In summary, if you want to consolidate federal student loans, we will guide you through the process. We have lenders in our network who will finance your loan plan. The main aspects to look at when choosing a loan consolidation plan include term, interest rate and the fees related to the loan. Improve your finances by repaying the loan on time. Dealing with numerous loans can be time consuming as well as a waste of resources. However, when you merge your loans, you will have one loan to repay.