There are benefits to pursuing either credit debt consolidation or our service. Both programs save you money and reduce time in relieving your debts. Therefore, you should select the method that maximizes your savings. Dependent upon how much debt you have, one service may work better for you. However, our service is renowned for saving the maximum amount of money.
Credit debt consolidation allows you to change your repayment terms to reorganize your existing debt. You defer your debts by obtaining a credit debt consolidation loan to pay off the multiple debts and transferring them to the loan. This loan replaces the principal and interest payments to many creditors with one payment every month at a low interest rate.
You save money with credit debt consolidation by reducing the interest payments on existing debt. For example, if you owe $15,000 total on five credit cards at an average interest rate of 17 percent, then you can borrow a credit debt consolidation loan for $15,000 at 8 percent interest and pay off your credit cards. If the loan featured a five-year term, you’d save more than $4,000 in total interest by paying the lower rate.
Our program, however, allows you to save even more money than credit debt consolidation by eliminating a large portion of the outstanding debt. We work with creditors for a reduced payoff. Once you enroll in the program, you save and set aside money at your own pace. The money saved goes toward paying off the lower balance.
From the previous example, instead of obtaining a credit debt consolidation loan, you can enroll in our program to help eliminate the $15,000 debt. Nationwide Debt Reduction Services works to reduce your credit card debt by $6,000 to $9,000. The company keeps a percentage of your savings, usually 20 percent, as a negotiating fee. Therefore, you’ll pay between $7,800 and $10,200 to pay off $15,000 worth of debt, saving thousands of dollars satisfying the debt.
Our service can save you more money than credit debt consolidation because you pay a lower amount instead of only a reduced interest rate.
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