Debt Consolidation FAQ: Learn More, Save More!

Q: What is a debt consolidation loan?

A: A debt consolidation loan is a way to manage your debt effectively and conveniently. A debt consolidation service negotiates with your creditors to cut your interest rates, sometimes in half! You pay one affordable bill each month that covers all your unsecured credit bills.

Q: How can a debt consolidation loan save me money?

A: Credit cards are among the most common kinds of unsecured debt, and the average credit card APR is 18%. A debt consolidation service can reduce your interest rates as low as 8-10%. And with one convenient monthly bill automatically paid through your checking account, you won't have to worry about multiple late fees or bill collectors.

Q: How much will a debt consolidation loan quote end up costing me?

A: Nothing. It's absolutely free. And once you answer a few quick questions, you'll get your free consolidation quote within minutes.

Q: What is secured debt?

A: Secured debt is a type of debt backed by collateral. Examples of secured debt would include home mortgages, car loans, boat loans, or loans that use your bank account as a collateral asset.

Q: What is unsecured debt?

A: Unsecured debt is not attached to any physical collateral you might own. Unsecured debts include revolving credit card accounts as well as any personal loan you might apply for without collateral.

Q: What's debt settlement?

A: Debt settlement is different than debt consolidation for a few important reasons. When you apply for a debt settlement, your debt settlement service negotiates with your creditors to pay off an agreed portion of your debt. In most cases, creditors agree to settle all debts if the consumer pays 40-60% of their debt. Learn more about debt settlement.