Frequently Asked Questions about Becoming a Debt Free Woman
Here are the answers to the most commonly asked questions about becoming a debt free woman.
Can debt consolidation help me become a debt free woman?
Yes, debt consolidation is a very effective and practical way to eradicate debt. Debt consolidation attacks debt at its core by substantially lowering your interest rates. With reduced interest rates, you can get out of debt faster without having to raise your monthly payments. Customers who stick with their debt consolidation payment plan have tremendous success in becoming debt free.
How soon will I be a debt free woman?
The average debt consolidation customer gets out of debt in four to eight years. In other words, you could be completely free from debt in as little as 48 months. Without consolidation, the average consumer will remain in debt for 20-30 years, assuming average credit card interest rates.
How can I get more information about debt consolidation?
We can offer you free information about debt consolidation once you complete our online sign-up form. Just provide your name, telephone number, and other contact information, and we'll put you in touch with one of our consolidation partners. The consolidation service will then be able to offer you a free, no-obligation debt consultation. During the consultation, the service will review your finances to identify how they can best help you.
What does debt consolidation cost?
The cost of debt consolidation will vary from service to service. In general, debt consolidation is a very affordable way to become a debt free woman. Usually, services will charge a one-time commission fee and a monthly administrative fee. The commission is typically the same as your first monthly payment. The monthly administrative fee can range from $10-$40 and may be charged on a per-creditor basis or a flat fee.
Will debt consolidation hurt my credit?
No, it will not. Part of becoming a debt free woman means improving your credit score, and debt consolidation can help you do this by lowering your total amount of debt. One major factor that influences your credit score is your balances-to-limits ratio. This ratio reflects how much of your credit you are accessing. As you lower your balances, you lower this ratio, which will boost your credit score.
Are there any requirements that I need to meet to qualify?
Becoming a debt free woman with debt consolidation is easy and accessible to almost anyone. Typically, consolidation services tend to require that you meet the following criteria:
- Have at least $5,000 of unsecured debt
- Are reasonably current on your payments
- Are not currently enrolled in a debt consolidation program
- Are willing to cancel the credit cards included in the consolidation