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If you have bad credit, why are you looking for another loan? Bad credit consolidation loans are not the answer. In the current economy, people with high credit scores are having a tough time getting loans. Any loan that you will manage to get with bad credit will most likely have an interest rate that is through the roof.
But just because your credit isn’t perfect doesn’t mean you can’t consolidate your debt and start working toward debt relief. You wouldn’t be doing it with debt. Debt settlement and credit counseling are both options that do not require good credit and are not loans.
Credit counseling involves a debt management program that consolidates all of your unsecured debts into one account. You make one payment per month to the credit counseling organization and they distribute it to all your lenders. Your lender works with your credit counseling organization to lower your interest rates and eliminate your fees. They require a 2% down payment per month and may possibly take 1.75% as hardship.
With a low interest rate and 2% down payment, you’ll be out of debt in about 5 years. And the best part is that your credit will not be ruined. If your credit counseling company can’t enroll you in one of their plans, they make referrals to trusted individuals or organizations that can help you. They also have resources that can help with mortgage problems.
If you are in a situation where you do not know where to turn, fill out the online form and a credit counselor will contact you. They will be happy to answer your questions without any obligation to you.
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