Consolidating Debts: The 411

Oct. 28, 2010 - PRLog -- Consolidating debts is the subject of much talk and speculation today. We discuss what consolidating debts means as well as offer options and solutions to get started. The good news is that millions of Americans have benefited from consolidating debts and have achieved debt freedom. How to apply and how to get started? Read on.

Consolidate Debt:

http://www.nationaldebtreliefprogram.org/

What is the process of consolidating debts? It is the process of combining multiple debt and loan payments in to a single monthly payment. This can be accomplished both with loans and without the use of loans. A debt consolidation loan is simply one loan that is used to pay off your other smaller loans. By combining your small loans into one payment of a lower interest loan you can lower your monthly payments.

Consolidating debts through the use of loans can have its pitfalls however. You may have to increase the repayment term of your loans so that you can afford the monthly repayment. Based on your current loan's interest rates and terms, this could cause you pay less per month but more in total over the course of the debt consolidation loan. Yet consolidating debts is possible without the use of loans.

Debt relief, debt consolidation, and credit counseling providers offer programs for consolidating debts which do not involve the use of loans of any kind. Rather, by working directly with a person's creditors these programs are able to achieve maximum debt reduction and the consolidating of debts into a single monthly program payment. These programs are today helping thousands of individuals and families at any given time to get out of debt.

To learn more and get started, please visit National Debt Relief Program at:

www.nationaldebtreliefprogram.org