Refinance Loan Debt Consolidation

Refinance loan debt consolidation, also sometimes called a debt management plan, involves combining your debts into one loan with a lower interest rate and monthly payment. As a debt consolidation company, we have preset arrangements with most major creditors (usually credit card companies and some collection and medical companies) that specify predetermined interest rates. These interest rates that we have negotiated are substantially lower than what the creditors offer to the public. When you sign up for our refinance loan debt consolidation, we reference our rate sheet to determine your new payments for your particular creditors. Your new, lower interest rate means more of your money will go toward the principal of your debt rather than toward interest payments. In other words, you can now pay off your debt faster with fewer interest expenses.

Good Candidates for Refinance Loan Debt Consolidation

Refinance loan debt consolidation is not for everyone. To qualify, you should meet the following requirements:

• At least $5,000 in debt
• Debts to be consolidated are unsecured
• Have many creditors
• Have high-interest debts
• Fairly current on payments
• Total unsecured debt does not exceed $20,000

Refinance Loan Debt Consolidation Options

Our site specializes in unsecured refinance loan debt consolidation, which means your debt consolidation loan is not tied to your home or other assets. This also means that we deal exclusively with unsecured debt in our refinance loan debt consolidation program. Some other debt consolidation companies will offer secured refinance loan debt consolidation, which could mean one of two things. First, the debt consolidation loan might require you to put up an asset, such as a car or your home, as collateral. That means you stand to lose your home or another asset if you fall behind on payments. Alternatively, it could also mean that the company allows you to consolidate secured debts as well. In our experience, we have found creditors less willing to negotiate to the borrower's advantage when they know they can seize property instead. This is why we exclude secured debt from our refinance loan debt consolidation program. Visit the next page to see the top reasons to consolidate.