People get confused between the difference of a debt consolidation plan and a consolidation loan.

A debt consolidation loan is a secured loan, which means you have to own a house, car or some type of collateral in order to even apply for one. With bad credit, a debt consolidation loan will be very hard to attain. This means if your credit is tarnished, you may not even be eligible for a consolidation loan.

The goal of the consolidation loan, is to get a large sum of money and pay off your high interest credit cards at one time. Then, you pay off the loan at a potentially lesser interest rate. However, if your late on one payment, your interest rate sky rockets. Then your stuck with a secured loan at a higher interest rate. If you default on the loan, they can potentially claim your house, car or whatever collateral you put forth.

If you've already been bad with your money, then a debt consolidation loan is not a good idea. It may just put you farther into debt. As well as put your house, car or whatever collateral at risk for repossession. There are other ways to lower your overall monthly debt.

We strongly suggest that you use a debt consolidation plan. You don't need any type of collateral. This will help to pay off your unsecured debts by reducing your interest rates, late and over the limit fees. You should avoid a debt consolidation loan that could turn into a higher interest rate and a much greater debt.

There are benefits to consolidating your debt instead of taking out another high interest loan.

Our debt consolidation plan can:


• We work with your creditors and can bring your past due accounts to a current status.
• Stop the annoying phone calls!
• Reduce your high interest rates!
• Stop late & over the limit Fees!
• Begin the process to improving your credit!
• Consolidate your payments into one lower monthly payment.
• Potentially reduce your monthly payments by 20 - 55%!
• Get Additional discounts by making payments on time
• Get in at the lowest rates in years
• We offer a Free Analysis - No Credit Checks - No Collateral required