What Are The Differences Among Three Popular Credit Repair Services

1
The Differences Among...
Debt Consolidation Loan
Debt Settlement
Debt Management Program

• Three Popular Credit Repair Services

2
Debt Consolidation Loan

• Debt Consolidation is a program in which you will
  receive a loan that will settle all your credit
  and debts. A bank or a credit firm will compute
  all your debts from different creditors and
  provide you a lump sum to pay for all your debts.
  After paying your debts, the next thing you need
  to do is to repay the loan, plus the interest and
  additional fees charged on it. You will be
  required to do so in single monthly installments
  until such time that you are able to pay for all
  the money owed.

3

• But, of course, there are risks involved. Some
  debt consolidation services impose high rates of
  interest and a lot of transaction fees. Also,
  this service may require you to provide your
  house as a security for the repayment of the
  loan. If you fail to repay it, the creditor may
  repossess your house and leave you homeless. So,
  you need to weigh the benefits and the risks
  involved in taking this type of credit repair
  service.

4
Debt Management Program
A debt management program on the other hand,
makes use of a credit counseling agency that will
help you solve your financial problems. Through
the assistance of a counselor, you will be able
to attain a better picture of your financial
status. The counselor will also provide you a
tailor fit debt repayment program for you to
finally settle your credit. You will find out
that this program involves the least amount of
risks as long as you remain faithful to your
monthly loan repayments.
5
Debt Settlement

• The last credit repair service that we will
  discuss is debt settlement. In this service a
  company will negotiate with your lenders so that
  you will just pay a portion of your total debts.
  But there is a catch in this service. Some
  companies will require you to pay them for their
  services even though they are not able to
  negotiate with your creditors. You may also incur
  tax issues and a lower credit rating once you get
  this credit repair service. So you need to read
  closely the terms and conditions provided in debt
  settlement programs so that it will work out to
  your advantage.

6

• Be aware of these differences, benefits and risks
  associated with each of these programs and for
  sure you will be able to identify which of these
  credit repair services will work best for you!

Original
Source of the content http//www.newhorizon.org/c
redit-info/the-differences-among-three-popular-cre
dit-repair-services/
7
Contact Us!
NewHorizonBusinessServicesInc
NewHorizonOrg
CreditRepairCoach
customerservice_at_newhorizon.org
Call us at 1-888-308-7160