Ohio Debt Consolidation Debt Settlement Ohio

Debt Consolidation

(Better Business Bureau Approved)

Finally! A debt consolidation company that really cares about the personal, human side of too much debt and the mounting frustration month after month! We watch your back with the creditors!

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1(866)411-3328- 1(866)411-DEBT

Few high schools and colleges offer even a rudimentary course on how to budget money and use credit wisely, so it is no wonder so many people get in over their heads when it comes to credit cards and other consumer loans. It is all too easy to just sign your name for every purchase and forget about the inevitable bill.

The huge rise in levels of consumer debt has created a virtual cottage industry in Debt Consolidation services. These services seek to help consumers dig themselves out of their credit card debt and stand on solid financial footing once again. The best Debt Consolidation services do far more than help consumers reduce and eliminate their current debt. A good Debt Consolidation service will help those consumers to learn about budgeting and financial planning. Only by learning good budgeting and spending skills can a consumer be assured that he or she will not fall back into the credit card trap.

Debt Consolidation firms work with creditors on the behalf of consumers. They are often able to negotiate friendlier repayment terms than the individual can work out on their own. For instance, a credit card company may be willing to lower your interest rate substantially to make sure you are able to repay the balance you owe. In some cases, the bank may even be willing to accept a lesser amount than what you owe. After all, it is in the bank’s best interest as well as your own to keep you out of bankruptcy court.

Debt Consolidation companies have experience negotiating these kinds of deals. They often have contacts within the major banks and credit card companies. They are able to use these contacts to get deals unobtainable by the consumer working on their own.

As important as it is, paying off current debt is only part of the problem, and it should be only part of the solution offered by a legitimate Debt Consolidation company. It is just as important for a Debt Consolidation firm to offer credit counseling services and budget courses to their clients. When shopping for a Debt Consolidation company, be sure to inquire about these kinds of services. A Debt Consolidation company that offers extensive credit counseling and budgeting services can
help you to remain debt free.

Learning to budget your money is one of the most important financial skills there is. Unfortunately, this vital life skill is all but ignored in the school system today, and even most colleges devote precious little time to this subject. No matter how much or how little money you make, it is absolutely essential that every consumer learn how to live within their means and budget their money properly. A good Debt Consolidation company will understand the importance of this skill to your long term
financial well being and will devote the time necessary to help every client prepare and stick to a good budget. The bottom line is that Debt Consolidation can help when consumers get into trouble, but it is vital to choose a Debt Consolidation firm that has your best interests at heart. The best Debt Consolidation firms work hard to not only eliminate current debt for
their clients, but also ensure that they do not incur further debt.

American Debt Foundation, Inc.
Debt settlement is a form of debt relief that can assist you in overcoming the burden of overwhelming debt in less time and for less money than other debt relief options.
On average, consumers who complete the American Debt Foundation's debt settlement program do so in 3 to 5 years and generally pay less than half of the balance owed.* That amount typically includes any interest charges, late fees, and the debt settlement company's fees.
American Debt Foundation's debt settlement program is an alternative to bankruptcy, which exists to assist consumers with significant debt due to personal or medical hardships.

Too often, consumers join consumer credit counseling services in an attempt to repay their debt, but soon find that it may have not been their best debt relief option. Some estimates show over 75% of people who turn to consumer credit counseling services either quit or are dropped from the program. As a result, many clients end up filing for bankruptcy. Debt settlement is an alternative solution for people who legitimately cannot afford to repay their debts and are looking for an honest way out of a debt-burdened life.

Debt settlement serves an important role in the debt relief industry because it is not like consumer credit counseling, debt consolidation and other debt relief options that coach you through repaying your entire debt, even if you cannot afford to do so. Instead, debt settlement involves negotiating with your creditors to settle your debt for a reduced amount. This is why debt settlement is a growing debt relief solution.

Many credit card companies have debt negotiation and settlement departments for the specific purpose of negotiating with debt settlement companies like American Debt Foundation. While they prefer that you repay the entire amount you owe, creditors understand that lending credit is a risk, and sometimes consumers experience legitimate financial hardships that prevent them from repaying the full debt.

It is important to us that you understand the debt settlement process or any other debt relief option you choose before committing to a program. The following pages explain how and why the debt settlement process works. Keep in mind that not all debt settlement companies are alike and others may not have the same process and steps described here.

What is debt settlement?

Debt settlement is when you repay your creditors less than you owe to satisfy your debt. People with overwhelming debt can enroll with a debt settlement company who will negotiate with their creditors to settle their debts for a fraction of what they owe.

In a debt settlement program, you deposit money into a savings account each month, instead of paying your creditors. Once enough money builds up, the company negotiates with your creditors to accept a lump sum payment. If the creditor accepts, this agreement settles the account. Your debt is considered paid and you can begin saving for the next settlement offer.
What settlement results do your clients typically see?

On average, we settle our clients' debts for about 30-50% of the entire amount owed.
How long will it take me to get out of debt?
Our program graduates are typically out of debt in 12 to 36 months.
Can American Debt Foundation help with harassing collection calls?

No company can completely stop debt collector calls. However, we ask your creditors to contact us directly about your accounts. We also offer specific advice for dealing with unwanted collector calls that come to your home.
Does American Debt Foundation offer any guarantees?

American Debt Foundation is one of the few companies in this industry to offer a 30 day money back guarantee.

How much is American Debt Foundation's debt settlement program going to cost me?
Our professional debt consultants will work with you to create a customized payment plan according to your financial situation. Our fees are a percentage of the total amount you owe.
Why would my creditors accept less than the full amount I owe?

Your creditors prefer to collect the full amount you owe; however, they know that if you file bankruptcy, they may receive no payment at all. Creditors are usually open to debt settlement once they recognize that you are facing significant financial hardships and are trying to avoid bankruptcy. Your creditors would rather accept a lump sum payment of 50% of your debt than risk getting nothing at all.
Can I be sued by my creditors while enrolled in your program?

We do everything in our power to negotiate a mutually agreeable settlement, but there is the possibility a creditor can take legal action to get you to pay. This usually happens when creditors think they can recover the full amount you owe through the courts. We are not a law firm and we recommend you speak with a licensed attorney in your state for more information.
How will debt settlement affect my credit?
Debt settlement can have a negative impact on your credit.

However, debt settlement can also get you out of debt faster than many other debt relief options so you can begin rebuilding your credit sooner. If you are already behind on payments, or you might be shortly, your credit is already impaired - you have too much debt compared to your income. This is known as a high debt-to-income ratio. To be considered credit-worthy again, you must drastically reduce or eliminate your debt, thereby reducing your debt-to-income ratio.

Remember, you can always rebuild your credit and it's much easier to rebuild your credit without the burden of overwhelming debt or a bankruptcy mark on your credit report.
Once I've enrolled in American Debt Foundation's debt settlement program, who maintains control of my finances?

You maintain control of your finances. Instead of paying us or your creditors, you deposit money into a third-party savings account every month. When enough money accrues and your creditors are ready to settle, the money from that account goes toward your settlement. Because you ultimately maintain control of your finances, your commitment is essential to the success of your program.

What if I need to cancel the program?
You can cancel the program and withdrawal the money in your set-aside account at any time. We do not have a long term commitment, so you are under no contractual obligation to stay if you decide the program is not right for you. You will not be charged any penalty fees, closing fees or any other hidden charges.
Does everyone qualify for American Debt Foundation's debt settlement program?
Not everyone qualifies for debt settlement. Debt settlement is an alternative to bankruptcy for people with overwhelming debt who have endured personal or financial hardships that prevent them from repaying their creditors.
What types of debt does American Debt Foundation settle?

There are generally two types of debt: unsecured and secured. Secured debt is backed by collateral such as a house or a car. American Debt Foundation cannot settle secured debts because creditors can simply repossess the assets if you fall behind in payments. Unsecured debt is not backed, or secured, by collateral and therefore it can be negotiated. Unsecured debts include credit card debt, medical bills, repossessions, etc.

WE specialize in credit card debt consolidation.
We can help you consolidate all your unsecured debts.

Our a professional relationship with over 50,000 creditors
makes it possible for us to save you money!

Our average client can save $5,000.00 a year!

We can help you with everything from Debt Consolidation to debt mediation!

Do any of the following apply?

Debt Consolidation

Do you have more than $5,000 in credit card debt?
Are debt collectors calling you day and night?
Are considering personal bankruptcy?
Are you getting behind on your credit card debts?
Has sudden illness or injury caused a loss of income?

What ever the reason for your debt problems our debt counselors are here to serve you in every way possible! We help thousands of people every year with their debt problems.

Debt Consolidation

Debt consolidation is one way to manage finances. It is beneficial when 
are able to save hundreds of dollars per month in 
interest and late fees. Debt consolidation is a good way to alleviate 
stress, too.

The biggest cause of divorce in the United States is debt. Arming 
yourself with tools to avoid the stress of financial 
problems is good for you and your health.

Debt consolidation is simply combining all of your debts into one. 
Ideally, you will be able to save interest and penalties; 
however, be sure that the debt that you intend to payoff do not have 
early payoff penalties. If there are pre-payment 
penalties, make sure that you will be able to counter the penalties in 
savings through debt consolidation. A lender can help 
you determine the cost of paying off old debt, as well as the cost and 
savings you will enjoy through debt consolidation. 
There are many programs available and some require that you attend 
credit management courses.

Many technical colleges offer course work in debt consolidation. If you 
have the time to take a course, it is a good way for
you to become familiar with the products and forms of debt 
consolidation that are available to you. Banking institutions also
offer debt courses. Banking institutions, also known as lenders, know 
that if you are educated about how to protect your 
credit, you will be a better "risk."  Lenders have to determine the 
level of risk that they will assume if they become 
involved in debt consolidation with you. Your ability to repay a loan 
is weighed with your "willingness" to repay a loan.  Your willingness to 
repay a loan is evidenced by your timely loan and debt payments.  
Paying your bills on time is paramount in helping you secure a loan.

Lenders will review mortgage or rent payments, as well as utility 
payments to determine your credit worthiness. Utilities, 
television cable and telephone payments weren't always reported to 
credit agencies, but late payments and unpaid bills made 
it important to report lack of payment. Thus, everything together makes 
up your credit worthiness. If for some reason your
payments will be late, be sure to contact your creditors and work with 
them. As long as you are trying to pay your bills on
time and work with your creditors, they are less likely to report your 
arearage to credit bureaus.

Once you determine that debt consolidation will be advantageous, there 
are many loan products to consider. The ideal scenario
is that you are a home owner with equity in your home. You can borrow 
money against the equity and payoff all of your bills
and have one payment due on your debt consolidation loan.

There are several reasons why you should consider borrowing against the 
equity in your home to finance debt consolidation. 
First are the tax benefits. You can deduct interest from your income 
taxes on a home loan. This is important to know because
you are not allowed to deduct interest from other kinds of loans. There 
was a time when interest from any loan was tax 
deductible, but those days are history.

Second, you might be able to borrow more money if your debt 
consolidation loan is secured. When you take out a home equity 
loan or a home loan, you offer your home as collateral; this means that 
you are telling the bank that you will repay the debt
consolidation loan and you are willing to put your home up to prove it. 
Your home guarantees payment. If you do not make 
regular payments, you risk losing your home.

Debt consolidation is a good way to get out from under credit card 
debt, too. "Plastic" is a very easy form of credit and it
can be very easy to run up debt on them. It is a good idea to have only 
one credit card that you can use in emergencies. 
Other wise, you will be tempted to use the credit card for spontaneous 
purchases, which is what many retailers hope you will
do.

When you take out a debt consolidation loan, you are giving yourself a 
clean slate. It is important that you prepare to deal
with how you accumulated so much debt in the first place. You need to 
address this because you don't want to fall back into 
debt. Unfortunately, many debt consolidation loans fail to work because 
borrowers do not make changes in their spending 
habits. Be sure to take seriously your need and desire for debt 
consolidation.

Try debt consolidation it works!

The consumers' guide to Debt Consolidation

It is not surprising that more and more people seek Debt Consolidation services every year. Levels of consumer debt have never
been higher and savings rates have never been lower. Given these two volatile facts, it is not surprising that even a small
financial setback can quickly spiral out of control and leave you with more debt than you can handle.

When consumers do get in over their heads, a good consumer oriented Debt Consolidation service can help them to not only pay
off their current debt but to learn how to avoid debt in the future. Consumer education is one of the most important aspects
of quality Debt Consolidation, and consumers who seek help should be sure that consumer education services are included as
part of the debt relief services they offer.

These type of education services, or lack thereof, is often a good way to separate the good Debt Consolidation services from
the shysters who have sprung up simply to take advantage of consumers in their time of need. A legitimate credit counselor
will want to make sure you do not return to their office in a few years with more debt. A shady operator will hope that you
do just that.

Be sure that the credit counselor you choose has a good education program in addition to their Debt Consolidation services.
Once you have found a credit counselor with whom you feel comfortable, sit down and go over all the money you owe and to whom
you owe it. Be sure to provide all information as well as information on all your sources of income.

A quality credit counselor will be able to work with your creditors to renegotiate the terms of your loans. Debt Consolidation
services are often very skillful at working with credit card companies and banks to help you pay off your debt in the fastest
possible time. Your credit card company may be willing to accept 70 or 80 cents on the dollar, or even less, to allow you to
pay off your debts and avoid seeking bankruptcy protection. Credit card companies are often willing to lower your interest
rates as well.

After you and your credit counselor have created a repayment schedule, it is important that you stick to the schedule no
matter what. It is vital that you make your payments month after month and on time. After you have repaid the debt you owe,
be sure to take full advantage of the consumer credit education services offered by the debt relief agency.

Education is of vital importance to ensure that you do not end up back at the Debt Consolidation service in a few years. Using
credit wisely is an important skill, and unfortunately it is not taught in school. Using your credit wisely is something you
will have to learn for yourself, but lucking for you consumer Debt Consolidation services are there to help you.

Debt Consolidation