Frequently Asked Questions about the Debt Consolidation Calculator

Here are the most commonly asked questions about the debt consolidation calculator.

What is debt consolidation?

The debt consolidation calculator is part of our debt consolidation service, which helps you get out of debt faster by combining your high-interest debts into one, lower monthly payment. Debt consolidation can negotiate your interest rates, improve your monthly payment, and get you out of debt more quickly. Our debt consolidation calculator can determine what your new monthly payment will be after we apply our negotiated interest rates to your various debts. We have negotiated interest rates with almost all major creditors and will pass them onto you once you become a customer.

How do I apply for the debt consolidation calculator?

You can apply for our debt consolidation calculator services by filling out our free online application. In exchange, we will provide you with more information and a free quote on our services. You can also talk to one of our debt consolidation calculator representatives to determine which of our services will help you the most.

Who qualifies for debt consolidation?

Almost anyone can qualify for the debt consolidation calculator, as long as you have at least $5,000 in unsecured debt that you would like to consolidate. We offer two different debt consolidation calculator services, however, and each of these services has its own requirements. Debt consolidation generally requires that you have under $20,000 in debt, are fairly current on payments, and are willing to cancel the credit cards included in consolidation. Debt negotiation candidates are usually seriously behind on their payments (more than three months) and have over $20,000 in debt. You must also be willing to stop paying your creditors for a time while your consolidation service negotiates with your creditors.

Will debt consolidation hurt my credit?

In general, using our debt consolidation calculator services will not hurt your credit, and, in many cases, can actually help improve your credit. General debt consolidation will not impact your credit. Many of our customers find it easier to rebuild their credit after they have consolidated because their payment burden is affordable, and their bills are always paid on time. Debt negotiation, on the other hand, does have an initially negative effect on your credit because you stop paying your creditors. However, some debt negotiation companies offer credit repair services to combat this.

How much will debt consolidation calculator services cost?

You can take advantage of debt consolidation calculator services for a very affordable price. Usually, debt consolidation calculator services charge a one-time commission and a monthly administrative fee. The one-time commission is usually the amount of your first payment. For example, if your monthly payment is $200, your first month's payment would be $400 to include commission. The monthly administrative fee is either a flat fee or a per-creditor fee that will usually total to $10-$40 per month. Although debt consolidation will help with your debt, learn how to beat debt with these tips.