11 Sep How To Pay Less On My Debt
Are you tired of drowning in a sea of bills and high-interest payments? It’s time to take charge of your finances and pave the way to financial freedom. In this article, we’ll explore one of the best strategies for paying less on your debt. This strategy is debt counselling, a proven method for managing and reducing your debt load. Join us on this journey towards financial stability and discover how to pay less on your debt while building a brighter financial future.
So, What is Debt Counselling?
Debt counselling is professional guidance for managing and reducing debt. Counsellors help create a plan to pay off debts, negotiate with creditors for better terms, and provide financial education to improve money management skills and reduce future debt. There are several ways that DebtCo Group can help you pay less on your debt.
Firstly, Debtco looks at your financial situation and helps you make a smart plan for your expenses. Then, we negotiate with your creditors and suggest how they can lower the interest rates you’re paying, remove late fees, or even settle your debt for less money. This means you owe less overall.
Debtco Group can also suggest something called a Debt Management Plan. With this plan, you make one monthly payment to us and we handle paying all your creditors. By doing this, Debtco can get you better deals, like lower interest rates.
But it’s not just about fixing your debt right now. Debtco Group also teaches you how to handle your money better so you can avoid getting into more debt in the future. As you can see, undergoing debt counselling with Debtco Group is a great way to get a grip on your debts, pay less over time, and learn how to manage your money wisely.
Benefits of Debt Counselling
Now that you know more about debt counselling and how Debtco Group can help you pay less on your debt, let’s look at 3 of the main benefits of debt counselling:
1. Protection from Creditors and Credit Bureaus
One of the main benefits of debt counselling is that it protects you and your assets from creditors and credit bureaus. Although creditors have several ways of taking action against you such as harassing you through phone calls and written notices, once you start debt counselling, your debt counsellor will handle all communication with your creditors. Best of all, lenders and credit bureaus are not permitted to bypass your counsellor and contact you directly. Ultimately, this helps you pay less on your debt than you would have if you were constantly being harassed by your creditors.
2. Consolidated Payment
Another one of the main benefits of debt counselling is that it allows you to make a single payment to your debt counsellor. This is known as a consolidated payment and makes your loans easier to track while minimising the need for paperwork. Moreover, having one consolidated debt amount makes planning for future payments easier to do. Best of all, a consolidated payment is typically lower than having to pay each debt separately. Therefore, this also leads to you paying less on your debt.
3. Lower Monthly Payments
The third main benefit of debt counselling is that it leads to a feasible payment plan for your debts. In fact, debt counselling helps to lower your payments to an amount that does not interfere with your living expenses. In some cases, debt counselling can result in your loan repayment amount being reduced by more than 50%. Besides helping you pay less on your debt; these reduced payments have a big impact on your short-term and long-term financial health.
Pay Less on Your Debt Today
As you can see, undergoing debt counselling, especially with Debtco Group, is one of the best strategies you can use to pay less on your debt. This usually happens through the benefits of debt counselling, which include lower monthly payments, protection from creditors and credit bureaus, as well as the ability to make one consolidated payment for all your debts. Struggling with debt is already painful enough. Get in touch with us today to find out how you too can start paying less on your debt today!