Debt Consolidation of Credit Cards & Loans

What is debt consolidation?

Debt consolidation can refer to a number of different processes. It is commonly known that a debt consolidation loan may be used to pay off smaller debts and provide a single monthly payment. Depending on the interest rate, the payment may be lower than the sum of the original bills. Debt consolidation loans are often secured by home equity. These loans may not be available to renters and individuals that have no equity, or do not qualify.

Another type of debt consolidation may be available with credit counseling. A credit counseling firm may be able to provide one monthly payment that consolidates credit card debt, utility debt, and other kinds of unsecured debts. The goal of credit counseling is to lower monthly bill payments and help prevent bankruptcy. Home ownership is not required. Please note that we also handle student loan consolidation.

If you find yourself in a jam, like many in this economic recession, credit counseling may be one option. Every individual's personal financial situation is different. Credit counseling may not be appropriate for everyone. If you would like to find out if credit counseling can help you lower your credit cards and consolidate debt, please use the toll free number or contact form on this site. Calls and contact forms will be answered by Federated Financial. No content on this site should be considered financial or legal advice.