A debt consolidation refinance loan can enable you to eliminate debts and save money. Even if your credit history is less than perfect, you can refinance your home and consolidate your debts with one easy application. Multiple lenders who can assist you during each step of refinancing process will contact you within hours after receiving your application. You'll get no-obligation quotes from lenders who are eager to advise you about numerous options that are available to you. If you complete short online application today, you will soon be on your way to a debt free existence, free from stress and pressure created by those high interest debts.

Debt Consolidation Solutions Now you are aware how millions of Americans are finding it hard to pay their bills and get out of debt. Many are turning to debt consolidation for help. While biggest problem seems to be credit card debt, other debts such as tax debts, medical bills, student loans and personal loans can all be included in a debt consolidation plan.

Process Debt consolidation is a simple process that can be done over Internet. A person needs to search for a lender that is listed in Better Business Bureau. After a lender is picked, an application is filled out with personal information as well as debt amounts, account numbers and present monthly payment amounts. A debt specialist will then give you feedback on what your new monthly payment would be and how long until your debts are paid. If both parties accept debt consolidation plan, a signature will be required to get started.

The lender will deal with creditors. In most cases lender will get creditors to lower interest rate and in some cases even lower amount owed. The creditor will benefit from debt consolidation because they know they will be receiving money from this lender. From their standpoint, they would rather get some money than have debtor’s file for bankruptcy and have nothing.

The lender is also benefiting from donations that non-profit organization receives for their services.

The debtor receives greatest benefits from debt consolidation. They now have one monthly payment, which is smaller than their combined payments were before. They will get their debt paid faster due to fact that (A) they cannot use their credit cards at this point. The creditors have closed their accounts, but left them in good standing. (B) The interest rates have been lowered; therefore debt will be paid off faster. Another benefit from debt consolidation is that you can reestablish your credit without having any negative effect on your credit report.

“While ID protection services may have a degree of value, they shouldn't be used as a reason to take an otherwise uncompetitive product,” warned Brown.

And as credit card industry moves over to Chip and Pin system, Brown also voiced concerns that card firms will deny fraud claims on basis that card holders have not kept their Pin number secure. 

“Fraud is clearly a growing thorn in side for consumers. It is clearly important that people feel their personal financial details are secure, but they should be aware that, even though they have a protection policy in place, they may still face financial headaches while negotiating with their lender or credit card company to have their losses reimbursed,” said Brown.

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Editor's notes:

Moneynet was founded in 1997 by Chief Executive Richard Brown to simplify personal finance market and provide consumers with impartial and interactive information on financial products and services.

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