There are many benefits to consolidating your debts. When you consolidate, you merge all of your debts into one loan with a lower interest rate. This will make it easier to keep track of your payments and could save you money on interest charges. Debt Consolidation can also help improve your credit score by lowering your overall debt-to-credit ratio.

If you’re struggling to make multiple monthly payments, consolidation can provide some relief by allowing you to make just one payment each month.

Finally, consolidation may be the best option if you’re facing bankruptcy or foreclosure. By consolidating, you may be able to keep your home and avoid declari

ng bankruptcy.

#1 Turn Multiple Payments into a Single Payment

Debt Consolidation CalculatorDebt consolidation can be a great way to simplify your payments, lower your interest rates, and get out of debt faster.

When you consolidate your debts into a single loan, you only have one monthly payment to make instead of several.

This can help you stay organized and on track with your finances. Additionally, consolidating your debts may allow you to qualify for a lower interest rate than you were previously paying.

This can save you money over time and help you pay off your debt sooner. Contact us today to learn more about the benefits of debt consolidation and how we can help you get started!

#2 Lower Interest Rates

Debt Consolidation ProgramsThere are a few ways that debt consolidation can help you to lower your interest rates. First, by consolidating all of your debts into one monthly payment, you will be able to better keep track of your expenses and make sure that you are not overspending each month.

This can help to improve your credit score over time, as well. Additionally, The Encompass Recovery Group works with creditors to get lower interest rates for our clients, meaning that you could see a significant decrease in the amount of money that you are paying out in interest each month.

If you are interested in learning more about how debt consolidation could help to lower your interest rates, please contact our team today!

#3 Can Improve Your Credit Score

Debt consolidation can improve your credit score in two ways: by reducing your total debt and by improving your Credit Utilization Ratio. When you consolidate your debts, you reduce the number of accounts that are reported on your credit report.

This makes it look like you have less debt, which improves your credit score. Additionally, consolidating your debts will help you to manage your money better and make on-time payments each month.

This will also help to improve your Credit Score. If you are interested in learning more about how debt consolidation can improve your credit score.

We have a 98% success rate in debt resolution and our process is tailored specifically to your unique situation. We are experts at negotiating with creditors on your behalf, saving you both money and time. CALL US TODAY AT (877) 702-2454 FOR A FREE CONSULTATION!

 

Reference and Resources:

Credit Score

Credit Utilization Ratio