How Consolidation Loans can get you Debt Relief
Let’s go through a real-time example. Let us show you how we help people in debt by applying a debt agreement and consolidating.
Craig and Donna are a married couple with two children.
They had the following debts: Before Debt Consolidation
|
Debts
|
Amount $
|
Interest Rate
|
Minimum Monthly
Payment
|
|
Credit Card 1
|
$ 4,000.00
|
17%
|
$ 197.00
|
|
Credit Card 2
|
$ 3,800.00
|
19%
|
$ 191.00
|
|
Store Card 1
|
$ 5,700.00
|
27%
|
$ 230.00
|
|
Personal Loan 1
|
$ 9,100.00
|
11%
|
$ 235.00
|
|
Personal Loan 2
|
$ 6,900.00
|
12%
|
$ 181.00
|
|
Personal Loan 3
|
$ 15,000.00
|
11%
|
$ 387.00
|
| |
|
|
|
|
Total Debt
|
$44,500.00
|
|
$1,421.00
|
Craig and Donna were paying off six different debts, totalizing $1,421.00 every month. Their income was $3,200.00 a month, so 44% of their income was going to pay off their debts!
But more important, the interest they would have to pay was $23,000.00 over three years!
After Debt Consolidation
|
Debts
|
Amount $
|
Interest Rate
|
Monthly Payment
|
|
All debts consolidated
|
$ 44,500.00
|
No Interest
|
$ 1000.00
|
| |
|
|
|
|
Total Debt
|
$44,500.00
|
|
$1,000.00
|
By a debt agreement & Debt Consolidation, Craig and Donna were able to
- lower repayments from $1,421.00 to $1,000.00 a month
- stop the interest on cards and personal loans - saving over $23,000.00
- increase their disposable income by $421.00 each month.
- stop legal actions by creditors; and harassment from debt collectors.
- manage to make one affordable monthly repayment instead of six different payments.
See a testimonial from Craig and Donna after applying Debt Consolidation:
" Just wanting to thank you for the outstanding service you’ve provided. Your help and assistance in our time of need is now allowing us to ‘dig’ ourselves out of a deep and depressing hole. You’ve brought a smile back to our faces…"
Explore your options, see how we can help you reduce your debt by Debt Consolidation
|
