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What is debt consolidation?

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What is debt consolidation?

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Debt Consolidation is the process of combining your debts into one regular repayment.

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We are a debt consolidation firm and we consider this to be one of the better options. Debt Consolidation is a process that allows a firm to reach an agreement with your creditors to achieve the lowest and most affordable monthly payments. This is not a loan but we are able to dramatically reduce your overall interest rate, monthly payments, and most of all, your payoff time. They also refer to this as Debt Management or Consumer Credit Counseling.

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Debt consolidation is a repayment plan arranged between your creditors and a debt consolidation company whereby all of your unsecured debt is paid off in approximately 60 months.

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Debt consolidation is the term used for when you add borrowing on unsecured loans or credit cards together onto a new secured or unsecured loan or your mortgage.

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If you have high-interest credit card debt currently on your credit cards you can consolidate your balance into your new home loan when you refinance. This way you can make one mortgage payment and do away with your high interest loans.

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