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Debt Consolidation Program: Pay lowers rates and consolidates your
Payments[finance4u.yolasite]

Are you struggling to handle your bills? A good bill consolidation or
debt consolidation program could help you to manage it better. This
program  s main objective is to provide necessary aids to you, for
meeting your existing monthly payments, as well as to help you to wipe
out your debt.

Working principle of debt consolidation programs

Consolidation programs have adopted an approach, which could help you
to lower the monthly payments that you have to make. Moreover, they
will help you to get rid of extra charges or late fees.
Important steps involved in a consolidation program are given below

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First Step: Avail free debt counseling without obligation

First of all, get in touch with any debt relief firm. Then, try to
attend their free counseling session undertaken by their consultant.
Their consultant will analyze the financial situation that you are
currently facing. Consultant will conduct your income as well as
expenditure review, for finding out the amount that you could afford
to pay, to meet your various monthly bills.

Second Step: Register your name with a debt consolidation program

Your consultant will mail you the necessary documents that you will
have to sign, if he comes across any consolidation program, which will
offer you the most suitable solution. From the consultant, you will
receive the details about the required fees as well as the authority
form, which will entitle him to have meetings and discussions with
your creditors, as your representative.

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Third step: Consultant will begin handling your creditor calls

After you receive the documents, your consultant will contact you for
clarifying your doubts, before you put signature on those documents.
At this juncture, you can start diverting calls from your creditors to
your consultant, and he will speak up for you.

Fourth Step: Consultant will negotiate for you as your representative

>From your creditors, your consultant will get necessary information
regarding your unsettled balances remaining on your debt accounts.
This will help your consultant to undertake a comprehensive income as
well as expenditure analysis. After that, he will send the report to
your


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various creditors, incorporating a payment plan proposal, which is
affordable for you.
Subsequently, your consultant will work with all your creditors or
collection agencies for lowering the interest rates, which you pay,
thereby reducing monthly payments. Consultant will ask your creditors
to waive or lower additional charges as well as late fees, which are
added on to your debt accounts, inorder to avoid those payments
altogether.

Fifth Step: You can send the monthly payment through your consolidation firm
You should send your monthly payment to your consolidation firm, and
they will disburse that amount to various collection agencies or
creditors, whom you owe money. Therefore, various bills get
consolidated into one entity of monthly payment. Hence, you can have
sigh of relief about the managing numerous creditors simultaneously.

Sixth step: Your creditors will get their payment from consolidation firm
After receiving payment from you, consolidation firm will forward that
amount to various creditors, in matter of few days. You might get
creditor statements from creditors as proof of receiving your payment.


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