1. Lower Monthly Payments – Lower payments puts more cash in your hand each month. Debt consolidators can reduce your monthly payment up to 50% in some cases, while still paying off your bills in less time.
2. Reduction in Credit Card Interest – Reducing interest means that by making payments you are actually paying off your debt, instead of just covering the amount of interest. This can reduce your time to pay off your debt by 10 or more years!
3. One Monthly Payment – Instead of making multiple monthly payments to creditors, you make one monthly payment to the debt management company.
4. Improve Credit – Many creditors will "re-age" your account, bringing your accounts current, when you being the debt consolidation plan. This will improve your credit rating. Paying off your debts entirely will also improve your rating.
5. Late and Limit Fees Gone – Once in a debt consolidation program, creditors will eliminate late and over the limit fees. Then, creditors will usually apply that money to your balance.
6. End Creditor Harassment – Enrolling in a debt consolidation program will usually end creditor phone calls. However, if a creditor still call your, your debt consolidation firm will usually resolve the issue on your behalf