In the current financial crisis, millions are struggling to repay the debts that they have accumulated over a period of many years as salaries are frozen and jobs are lost. Bills.com helps an individual to save money on your debt repayments and provides debt consolidation assistance so that the borrower can get a lower interest rate and better repayment terms.
Making a number of payments every month to each lender can be a time consuming task and it is often difficult to ensure that all payments are made by the due date. To consolidate debt , the borrower has to combine all existing debts and loans into a single loan. He or she may be able to make a lower monthly payment after debt consolidation and become debt free faster. Expert advice on bill consolidation is also available.
The debt relief options available to an individual vary depending on the amount of debt to be paid and his or her financial status. For smaller debt amounts and individuals receiving regular salary checks, consolidation of the debt or refinancing it is sufficient to enable the borrower become debt free within a few years. However, if the individual is unable to pay even two percent of the debt every month, other kinds of assistance like credit counseling, debt management program or debt settlement may be needed.