Debt Consolidation: Is It Right For You?

There's more than one way out of debt. Finding the solution that works best for you and your circumstances could help you attain financial freedom faster. One popular solution is debt consolidation, which combines your various debts into one and replaces your many different creditors with one lender.

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How Debt Consolidation Works

Debt consolidation may simplify your debt resolution efforts. Instead of paying several different creditors and having to juggle different bills and due dates, you have a single payment a month to a single lender. Here's how it all comes together.

  1. Get a debt evaluation. Before you jump into consolidation — or any debt relief solution — make sure you call Freedom Financial for a free debt evaluation. A debt specialist can help you determine the best solution for your debt situation.
  2. Find a debt consolidation company. If consolidation is right for you, you'll need to find a lender. Lenders can be dedicated debt resolution companies or banks. Do your research and make sure the lender is reputable and offers reasonable interest rates.
  3. Consolidate your debt. Acquiring a consolidation loan often requires collateral — something of value that you put on the line as an assurance for your lender. Your collateral needs to be something of high value, such as your home or car. It's possible to receive a loan without collateral, but it will most likely come with a higher interest rate.
  4. Pay down your debt. Once your debt is consolidated, you need to stick to a repayment plan to fully resolve it. There's no fast and easy way out of massive debt. It requires a long-term commitment and dedication. With a consolidation loan, the stress of juggling payments may be significantly reduced.

Remember, debt consolidation isn't for everyone, and not all of your debt can be consolidated. That's why it's important to call Freedom Financial for a free debt evaluation. Call now and start your journey toward financial freedom.

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  • One low monthly program deposit
  • Settlements for less than owed
  • Debt could be resolved in 24-48 months

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