Debt consolidation plans involve combining your debts into one group creating one payment in order to pay off or resolve the majority of the debts.
There are so many programs and companies using the word debt consolidation it is understandable that there is some confusion. Debt consolidation can be a loan or it can be a program to pay off your debts by combining them. It’s a very general term and used to describe a lot of different programs. What we do here at Tayne Law Group is consolidate your payments but we do not consolidate your debts and make them into 1 single debt. Instead, we use your payments to negotiate a settlement with each creditor individually to get your total debt amount lowered and ultimately pay a portion of what was originally owed.
By getting started in our debt program, two good things will happen: You’ll have the chance to pay off your debts faster, and you’ll be able to do so while making lower monthly payments and not have to deal with your creditors any more directly.