Why Choose a Debt Consolidation Loan Over Debt Settlement

When you hear the words debt consolidation, what comes to mind? For most, the term will bring up images of people in dingy, dark rooms who are looking to take advantage of those who are already struggling with their debt with false promises of debt renegotiation. For a time, there were a number of these companies that popped up and promised borrowers the sun and the moon in terms of helping them come to terms with their debt and start making headway into paying it off. Some offered vague financial counseling services that showed borrowers how to make budgets and become more fiscally responsible while others promised to contact creditors and negotiate lower balances, lower interest rates, an elimination of fees and more. Unfortunately, while some companies were able to deliver on what they promised, most simply made off with their customers’ money and left them in an even more vulnerable position than they were before.

The good news is that debt consolidation loan companies aren’t companies that make false promises when it comes to offering you a sound way to repay debt once and for all. Here’s what you need to know about debt consolidation loans.

Debt consolidation loans, unlike financial counseling and debt negotiation services, is a product, not a service. This means that there is something tangible that you receive when you apply. Of course, you won’t actually get to touch the proceeds that you get from your loan, you can actually see the balances of your accounts go from where they are now to $0.

In addition, debt consolidation lenders, just like other lenders, are regulated. This is because the lending industry is a federally regulated industry. This means that you can do a fair amount of due diligence on a lender before you provide them with any information about yourself or your debts. Debt counselors and debt negotiation services don’t have the same regulations they have to abide by, so you are never really sure who it is that you are doing business with.

And, last but not least, most lenders have a brick and mortar establishment that you can visit when there is a problem. While some financial counseling firms and debt negotiating companies have storefronts, many are online only, which provides them a level of anonymity that they can take advantage of in order to take advantage of unsuspecting customers.

Debt consolidation loans offer many more benefits over other debt consolidation solutions including having the much desired effect of boosting your credit rating. If you are someone who is ready to take control of your debt, it’s time to visit http://consolidate.loan/ and learn more about the benefits of using debt consolidation loans to help you get there. Take a minute to visit today and learn more about debt consolidation loans today.

consolidation loans are a great financial tool to help people eliminate their debt while boosting their credit ratings. Visit Consolidate.Loan today.


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