Why do creditors agree to reduced interest rates and lower monthly payments?
(Back to Top) Creditors agree to lower your monthly payment when you are working through a consolidation company because you are, in fact, trying to pay your debts. Your creditors lose money if you default on your loan or file bankruptcy. If they compromise and accept lower interest, it is much more likely that they will be able to collect more of what is owed. The Debt Consolidation Group works with a non-profit debt consolidation company called Trinity. Trinity has an excellent relationship with creditors and because of that relationship, is able to work out an easily affordable plan.
