What is Debt Consolidation?
Debt consolidation is a program which is dedicated to getting
people out of credit card debt.
Debt consolidation has many benefits. First, the debt is paid
off much faster, typically within 3-5 years. Second, the total
payoff is much lower. Typically clients save from $10,000 to
$50000 in total payout. Consumers save because they pay much
lower interest rates on consolidated debts and because more of
the monthly payment goes to paying down the principal. Third,
consumers have only one payment each month which is debited
directly from their account. And this debit is often less than
the minimum payments consumers had been making. Lastly, as your
debt level goes down your credit score goes up.
Crusader’s debt consolidation program has an additional benefit
in that there is no prepayment penalty. We encourage you to pay
off your debt as fast as you are able. At Crusader, our priority
is getting people out of debt and having good credit as fast as
possible. Submit your debts for a free quote today.
What Debts can be Consolidated?
Virtually all debts can be consolidated into one payment but
only credit card debts allow consolidation to save the client
substantial money.
How Much Debt do I need to Join your Debt Consolidation
Program?
A minimum of $3000 in debt is required.
I have so much debt why shouldn't I just go bankrupt?
Under the new Bankruptcy Law, it is more difficult to file a
Chapter 7 Bankruptcy. Also, you cannot file a Chapter 7
Bankruptcy if you have already done so in the past 7 years. If
you are thinking of filing a Chapter 13 Bankruptcy then this is
very similar to our debt consolidation program but Chapter 13 is
extremely damaging to your credit. Whether to file a Chapter 7
Bankruptcy or enter into a Debt Consolidation program is better
depends on if you are able to afford to pay the bills off within
a few years or if you will never be able to pay them off in your
current financial situation. Get a free quote to find out which
is right for you. Be aware that bankruptcy Chapter 7 is much
harder on your credit, especially in the first 12-16 months, and
having a bankruptcy will prevent you from getting certain types
of credit. Our debt consolidation program is very credit
friendly and allows you to get out of debt very quickly.
Chapter 13 Bankruptcy vs. Credit Counseling: Whats The
Difference?
These two options are similar in that you are paying back your
bills. They are also similar in that they wreck your credit
score. Consumer Credit Counseling tells a person to stop paying
bills for months and then settles them once they have gone into
collections. CCS is the worst thing anyone can do as far as
affecting his or her credit. Chapter 13 bankruptcy hurts your
credit by posting a Bankruptcy to your credit report which stays
on there until 7 years has passed AFTER all debts are paid. Debt
consolidation is a much cheaper and more credit-friendly option
than either of these in most cases.
How do you Charge for this Service?
For this service we charge a set-up fee which is $50 or one
month of your monthly payment, whichever is LESS. For a quote to
find out your monthly payment options click here for a . There is also a monthly maintenance charge of
$59.
How Much Money will I Save?
Due to the much lower interest you will pay and the end of late
and overdraft charges, and due to the fact that you will get out
of debt in a few years vs. decades, you will save tens of
thousands of dollars. In your we are able to
estimate your total savings. Typically your lower monthly
payment is also less than what you are currently paying, so you
save every month and you save by paying the debt off in a lot
less time.
How does Debt Consolidation Affect my Credit?
Debt consolidation is only a little harmful to one’s credit due
to the fact that one must close all but one credit card in order
to enroll in the program. This reduces one’s available credit.
However, as the balances go down your credit score will increase
rapidly. Often, once the debts are paid off, the creditor is
willing to reopen the credit card account. Unlike bankruptcy and
consumer credit counseling, there is absolutely no long-term
negative effect of the debt consolidation program.
What if I Want to Pay my Debts Ahead of Time?
There is no prepayment penalty for our service, That is, you are
free to pay your debts ahead of schedule when you are able.
Furthermore, you only pay a monthly maintenance fee as along as
your debts are unpaid. Unlike other debt consolidators, we
encourage people to pay debts off as quickly as they are able.
|
