nonprofit debt consolidation

In order to reduce your debt, you need less credit not more. Credit Card Debt Consolidation Service Offers a nonprofit debt consolidation service that reduces your debt without new high interest loans or refinancing your home. Increasing debt with a debt consolidation loan, or, mortgaging your house is typically financial suicide. Many people report that re-financing with a credit card consolidation loan or a second mortgage pushed them over the financial brink. Under these circumstances, the loan or mortgage you do obtain (if you qualify) will be at a very high interest, and though you will appear to be making progress, you will only be digging yourself in deeper in debt.

You have seen debt consolidation loans advertised and they may look like a good idea. The way these loans work is that you are given a loan against your property and you use this money to pay off high interest credit cards. Typically, you are required to use the equity in your house as collateral. The problem is that most people who are in deep credit card debt do not have equity in their homes and the ones that do are concerned about taking on more debt. A common myth is that debt consolidation loans are tax deductible. This is only partially true. Interest paid on mortgages that exceed the value of the house, used to repay credit cards or personal loans (called unsecured consumer debt) is not tax deductible. The best way out of high interest credit card debt is through a nonprofit debt consolidation service.

We do not provide loans. We work with your creditors to reduce monthly payments, eliminate interest, late fees and penalties, all without a consolidation loan. If you just continue to pay the minimum requested payments on your credit cards, it could take upwards of 20 years to pay off your high interest debt. With our nonprofit debt consolidation program, most debt is paid off in approximately 4 years or less, even if your currently behind in your payments. Go to our debt calculator to see how long it will take you! You will be making one convenient monthly payment to us and in turn we disburse all funds to your creditors. In most cases, this new payment will be lower (perhaps by as much as 60%) than the sum of your current individual account obligations, and more of your money will be going on the principal.