Consolidate Credit Card Debt - Our Program

Introduction

Trust. This is the fundamental principle behind the way we do business, as well as the key to your success. Choosing a reliable partner to lead your fight against debt is a vitally important first step. By connecting you with the most experienced and reputable credit counseling agencies, we will ensure that your finances are in the best of hands.

Overview

Once you select a debt consolidation company, you will enter the contract stage. These agreements vary in length and in the amount of detail, but generally involve the same key points. The following things will be made official:
- Your agency of choice will be granted the power to negotiate with your creditors on your behalf.
- You will be obligated to make payments on time.
- The creditors verify, under penalty of law, that the statements sent to you are accurate.

This contract will be the basis for all transactions going forward. It should depict your new reduced monthly payment, as well as the new payment schedule and dates. Additionally, it may include a breakdown of how much each individual creditor has reduced your payment and interest rates, as per the negotiations with your partnering agency.

If you consistently adhere to this new payment schedule for several months, and begin to establish a track record of success, you will reach the next stage. Your debt consolidation firm will review the account and ask that each creditor "re-age" your account. The re-aging process can take up to three months, but the request will usually be granted, provided that a similar policy has not been enacted within the previous 12 months.

The significance of "re-aging" is the restoration of the client's credibility after only a few months of making payments under the new plan. All accounts, as listed in the consumer's credit reports, will be listed as "current/paid on time." Your credit rating will impact every major financial decision you make in your adult life. Re-aging your accounts through a debt relief agency can give your rating an immediate boost, even as you continue to pay off your outstanding balances.

There are additional advantages to debt consolidation, but this process is not without its potential drawbacks. For instance, most creditors will immediately eliminate all late fees on accounts you are consolidating, providing you significant relief. However, accounts under debt consolidation will almost always be closed immediately, thus prohibiting future use by the consumer. Additionally, such accounts will be designated on credit reports as "undergoing credit counseling," a label that may hinder the consumer's opportunity for obtaining additional lines of credit in the short term.

Debt consolidation will not happen overnight, and will likely involve some setbacks along the way. Still, proper management and commitment to your new payment plan will turn things around before you know it. Receiving reliable debt counseling is the best way to minimize the negative effects of debt, and to lay the foundation for a stronger financial future.

We look forward to working with you.

Sincerely,
The Partners
Consolidate Credit Card Debt, LLC

All material copyright © 2008 Consolidate Credit Card Debt. All rights reserved.

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