What Is Debt Consolidation?
One of the biggest problems anyone faces when having a lot of debt is trying to keep track of all the payments owed, and making all of the minimum payments. It can be very easy to miss a payment here or there, which results in a penalty charge, adding more to your debt and higher stress levels. If this starts to happen every month, then some people can choose to bury their heads in the sand, and almost give up. This is not a good choice to make, however, and it has the potential of turning into a bankruptcy further down the line.
Debt consolidation is a perfect solution, that can remove all of the stresses and strains and help you to get your finances back on track. The concept is straightforward; you take all of your outstanding debts and combine them into one single, more manageable loan. Depending on your individual situation, this can be as a secured loan, when you are borrowing against an asset such as your home, or as an unsecured debt such as a personal loan.
What Are The Benefits of Debt Consolidation?
One Single Payment Every Month
Having dealt with thousands of customers in your situation, by far the most significant benefit of debt consolidation is only having one monthly repayment. Rather than having to pay five, ten or more payments every month, a debt consolidation loan will mean that you will only have one combined debt, and as a consequence one payment to make every month. This helps to provide focus and clarity and ensures that you are working towards your goal of paying all your debt off and becoming debt-free.
Stress Reduction
Many people underestimate the amount of stress being in debt can cause. It can and does affect people's health, it can stop them from getting a good night's sleep, and money problems are the number one cause of fights and eventually divorce in the United States. With the constant stress of debt, many people are unable to perform to their usual high standard at work, which then potentially puts their job at risk, which then leads to further problems. A debt consolidation loan can remove that stress almost instantly, and enable you to start living and perhaps, more importantly, enjoying your life again. Many of our customers tell us it helped them breathe.
Stop The Collections Calls
When you start to miss or fall behind on your payments, there is always the chance that your creditors will pass your debt over to a collections agency. A collection agency has one purpose, and that is to get back the money they are owed. They do this by continually phoning and harassing you numerous times every day. These calls can be threatening, stressful, and embarrassing. Once you take out a debt consolidation loan, you can use that money to pay off all of the others. Almost overnight, those collection calls will stop, and you will no longer need to live in fear of the phone ringing, at home or at work.
Benefit From Lower Interest Rates
Credit cards are one of the most expensive forms of credit on the market today, and in our experience, when people come to New Fidelity Funding for a debt consolidation loan, the vast majority of their debt is on credit cards. Those credit cards are maxed out, and the rate of interest can be extortionate. In some cases, the minimum repayment could be $200 per month, and the interest could be $190.00. This means that you are only repaying $10 a month off the balance, and that is without adding any more to the debt. A debt consolidation loan from New Fidelity Funding will typically have a much lower interest rate. This will ensure that you save a lot of money not only on your monthly payment but also over the lifetime of the loan.
Improve Your Credit Score
Every time you make a late payment or miss a payment altogether, it has an impact upon your credit score. This means than if you ever need to borrow more money, there is a higher chance that you will be refused credit, or only be offered credit at a much higher rate of interest. Essentially you are storing up even more problems for your future. By taking out a debt consolidation loan, and paying on time every time, you will be on the path to improving or repairing your credit score while getting out of debt at the same time.
Getting out of debt can be a long hard struggle, with many bumps in the road. For most people, the biggest problem is being able to keep up with all of those small payments every month. When you are in the cell phone store taking out a phone contract at $40 bucks a month, it does not seem like a lot of money. But those $40 payments quickly mount up and before you know what is happening you are struggling to survive every month. A debt consolidation plan gives you an escape route. It provides you with one simple payment every month, that will typically be significantly lower than all of your smaller payments put together. The interest rate charged will generally be much lower, and perhaps most importantly of all, a debt consolidation plan delivers hope. At National Fidelity Funding, we aim to help people turn their lives around, and our debt consolidation plan was designed to do precisely that.
Give us a call today and let us help you remove all of the stress and pressure you are under. Our friendly team of advisors will not judge you; they help people in your situation all day every day. Potentially you could have put all of your debt problems behind you by the end of next week. Just imagine how wonderful that would feel.
At New Fidelity Funding, we exist to help you get your financial life back on track.
Take A Deep Breath And Begin To Dream
New Fidelity Funding Is Your Ticket To The Future
Life can be hard, and when you are in a bad financial situation, then it can be all-encompassing. It is terrible for your physical and emotional health; it puts your relationships in danger. You are no longer living your life; you are merely existing. Take back control of your situation, and work with the team at New Fidelity. Our customers only have one complaint about New Fidelity Funding. They just wish they had found us sooner. New Fidelity is helping families regain control of their lives by providing them with the financial solutions they need. We look forward to making your family our next success story.
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