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Frequently Asked Questions about Erasing Debt

Here are the most commonly asked questions about how to erase debt.

How can I erase debt?

You can erase debt effectively and affordably with debt consolidation. Debt consolidation can help you reduce your interest rates and erase debt in an average of four to eight years. With debt consolidation, you can get out of debt faster while spending less money than you otherwise would have.

How do I apply to erase debt?

You can apply to erase debt for free online. Just click "apply now" to fill out our short, online application. Once we receive your application, we will contact you to give you a free quote on our services and explain how we can help you erase debt. We will also answer any questions you may have.

How does debt consolidation erase debt?

As a debt consolidation company, we have already negotiated dramatically reduced interest rates with most major creditors. These rates are not available to the general public; they are exclusively for debt consolidation customers. When you sign up to erase debt, we will consult our rate sheet to determine the rates we have negotiated with your creditors. We then apply these reduced rates to your debts, and you are then able to get out of debt faster.

Do I qualify to erase debt with debt consolidation?

To qualify to erase debt, you will need to have at least $5,000 in unsecured debt. You should also be fairly current on your payments. Unsecured debts cannot be included in debt consolidation.

What does it cost?

Most debt consolidation services require a one-time commission as well as a monthly administrative fee. The one-time commission is usually the amount of your first monthly payment. For instance, if your new payment were $250, your first month's total payment would be $500 to cover commission. Your service will also typically require a monthly administrative fee that usually ranges from $10-$40. It might be a flat fee or a per-creditor fee.

When will I be out of debt?

On average, our customers erase debt in 4-8 years. We try to structure your payments to minimize your interest expense and help you become debt-free as soon as possible. Learn all about debt on the next page.

Can I keep the credit cards I include in the consolidation?

When you erase debt with debt consolidation, you will need to cancel the credit cards you include in your consolidation. Usually, you can keep one card for emergency situations.