There are various reasons why someone should seriously consider consolidating their loans. If this is a practical way for you to safe money in the long run, than it seems very wise for you to check into how the best way to go about consolidating your loans and the quickest way to do so. You need to go into the loan consolidating process with an open mind, because there may be some upfront cost associated with this process. The upfront cost would be to hire a company to look at your case and help you along in the process, but it, more often than not, is well worth the cost in the long run.
Consolidating your loans does not mean you are getting rid of your own loans, it means you are taking out a loan with a new company and the new company is paying off your old loan, or loans, for a smaller interest rate, which can be paid over a longer period of time. It is important to note there are a lot of loan consolidation companies out there today an
d like with any other business, there are some good and some poor companies you could choose from. Below is a list of both the reputable and non – reputable companies which are available today. Please note, this list is not from personal experience, but from the feedback of customers who have used these services, as well as from public records of what organization have been sued or in other business trouble. Please feel free to check out as many loan consolidation companies as you want, and always chose the company you feel most comfortable doing business with.
Reputable Consolidation Companies:
NON – Reputable Consolidation Companies:
The following companies have been sued in recent times and find themselves in hot water over how they have been conducting business. If you are considering doing business with one of these companies, or already are doing business with one of these companies, you may wish to further investigate them and look into how reputable they really are.
- A New Horizon Credit Counseling Services
- A1 Debt Consolidation
- American Debt Consolidation
- Cambridge Credit Counseling Corp.
- Credit Advisors
- Credit Solutions
- Debt Busters
- Debt Free America
- Debt Free Today
- Delray Credit Counseling
- DTS Financial
- Fast Debt Solutions
- First American Debt Relief
- GreenPath Debt Solutions
- InCharge Debt Solutions
- Lighthouse Credit Foundation
- National Foundation for Credit Counseling
- Pioneer Credit Counseling
- Union Financial Services
Some Benefits to Consolidating Loans:
- You can receive a lower monthly payment obligation and it may even be up to in 50% lower than you are currently paying.
- You will never have to pay a penalty for paying off your loans earlier than you anticipated or agreed upon.
- To ease the heavy financial burden you have been carrying and to give yourself a piece of mind. Being able to sleep soundly at night is priceless and knowing your financial future for yourself and your family is well worth the process of consolidating your loans.