Debt Consolidation Loan

Is a Debt Consolidation Loan Right For You?

Debt Consolidation Loans have been in the news quite a bit recently. Many of the stories do their best to paint a fairly favorable picture for this debt relief option.

What many people don’t realize, though, is that unlike the debt settlement solution offered by FaithWorks Financial, debt consolidation does not reduce the overall amount of your debt.

With a debt consolidation loan you will still pay back 100% of your debt, plus interest. A debt consolidation loan basically transfers your debt from one place to another.

If you are seriously considering this approach you should also know that debt consolidation loans are often “secured” loans that cannot be lowered or negotiated. This means that your personal assets (like your home or car) could be at risk in the event of default.

As with other debt relief solutions, it’s important that you have complete information before making a decision.

Want to make sure you are making a smart choice when it comes to eliminating your debt? Click here to fill out our form and receive a free consultation and quote.