What is the difference between debt reduction and debt consolidation?
Debt consolidation companies (also known as credit counselors) mainly get some reduction in INTEREST ONLY. These companies generally work for and on behalf of the credit card companies. It can take 5 – 10 years to pay off your debts, and you are paying off the full amount that you owe your creditors. We work for you and our debt reduction program gets your actual debt balances reduced by 30% to 80% on average, and you can get out of debt in 3 – 36 months depending on your budget. For example, if your debt amount is $20,000, we will get it reduced on average to $8,000. This figure includes the amount you owe and the interest.
