Debt Restructuring & Consolidation
Combining all outstanding debt into one loan, paying one rate with a new repayment schedule,
makes debt consolidation more convenient and possibly cheaper. Debt consolidation
should also eliminate the process of juggling payments which may cause late-payment penalties and
adverse credit reporting from hindering your possibilities for future loans. Servicing
one loan versus many reduces stress, anxiety, and is good financial management.
Reasons for Consolidation & Restructuring
- Pay-off Credit Card Debt
- Keep More Cash-on-Hand
- Eliminate Stress Caused by Creditors
- Reduce Outstanding Debt
- Avoid Bankruptcy, Protect Your Credit Report
- Professionals Negotiate on Your Behalf
The Benefits
- 1 Loan, 1 Monthly Payment
- New Repayment Terms
- Eliminate Stress Caused by Creditors
Currently, interest rates are at historic lows making most outstanding loans
eligible for consolidation at today's rates.
Debt restructuring involves professional negotiators, on your behalf, contacting the
creditors of your choice to negotiate more favorable repayment terms. Lump-sum payments,
extended repayment terms, and reductions in outstanding balances are typically sought.
For example, if you have $50,000 in outstanding debt it is possible the creditor may
accept a lump-sum payment of $35,000 now, versus continuing to receive small monthly payments.
When to Restructure or Consolidate
- Credit Cards Have Reached Their Limits
- Transferring Balances to Fulfill Payments
- Incurring Fees for Missed Payments
Debt restructuring is usually less expensive than continuing to service the current outstanding debt!
