| Debt Consolidation |
Debt Negotiation |
| Advantages |
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| Be out of Debt in 7-8 years |
Be out of Debt in 2-3 years |
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| Reduce interest to an average of 13% |
Eliminate Principle an average of 60% |
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| Ideal for people who can't cut up their credit cards |
Reduce Monthly Payments compared to Credit Card minimums |
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Ideal for people who have reached their credit limits |
| Disadvantages |
|
| 78% of people don’t complete the program |
Possible Lawsuits, Liens, Judgments or Garnishments |
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| Payments are Higher than the minimums payments made to the creditors (typically 2.5% of debt amount) |
Remote possibility that the creditor won’t settle and you owe more due to late fees and interest |
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| Increased Monthly Payments compared to Credit Card minimums. |
Credit Rating Drops |
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| Credit Rating Drops |
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