St. Pete Beach, FL -- (SBWire) -- 01/02/2013 --As of December 7, 2012, the average American household has $15,418 in credit card debt. This only takes into consideration those households which do have debt, according to NerdWallet.com. Overall, American consumers have $852 billion in credit card debt and this doesn't take into account mortgage debt or student loans. "If you are one of these households and feel you are drowning in debt, debt consolidation services can be of great assistance," Marc Hardgrove of Debt Consolidation 360 states.
Multiple credit card accounts and high interest rates combined make it difficult for many consumers to escape their mounting debt. Debt Consolidation 360 helps those with overwhelming debt bundle all debt into one loan, often with a better interest rate. The monthly payment, in many cases, will be lower than current combined payments. "Before a consumer chooses this option, many factors need to be taken into consideration," Marc Hardgrove goes on to say.
"When a consumer contacts Debt Consolidation 360 for debt relief, a representative looks at total card balances, the consumer's credit score, market interest rates and proposed terms of the new loan. For this option to be beneficial, the new loan rate must be significantly lower than current highest-rate accounts," Mr. Hardgrove explains. "In addition, the consumer's motivation for seeking a consolidation loan must be examined as this is only appropriate for certain situations."
Before a consumer takes out a consolidation loan, he or she needs to consider other options as a balance transfer, home equity loan or second mortgage may be the better choice. "If one does decide a consolidation loan is for them, finding a lender can be difficult. Debt Consolidation 360 can be of great assistance in finding a lender willing to work with the consumer. The debt consolidation firm may offer a new loan, one that is secured, or may negotiate with the consumer's lenders to obtain better terms for each debt," Mr. Hardgrove continues. "A consolidation loan is a practical way to lower monthly obligations along with the amount of interest paid over the long term."
"Why live with continuous collections calls, fear of lawsuits and a general sense of despair due to overwhelming debt? Consumers have options and Debt Consolidation 360 is available to assist each client with finding the option that best works for them. Help is available when one knows where to turn. Debt Consolidation 360 is the place to start," Mr. Hardgrove emphatically exclaims.
About Debt Consolidation 360
Debt Consolidation 360 is committed to helping consumers manage their mounting debt through one easy-to-manage monthly payment. A variety of options are offered to ensure consumers find one that fits their particular financial situation. From debt consolidation and debt settlement to mortgage modification and debt management, the collection calls can be slowed or eliminated completely, giving consumers relief from constant harassment.
