My Financial Goals – Debt Consolidation

American Financial Solutions is a non-profit organization which offers effective credit counseling and our aim is to help consumers get out of debt and stay out of debt for good. Since we are geared to meet the needs of over indebted consumers, we have a good understanding of what consumers are going through and we will go to great lengths to empower consumers, to take charge of their finances and start to live their life, freed from the burden of debt. Via our website, online users will be able to gain access to a number of solutions, all of which have been designed to assist over-committed families to get the help they need. All consultations are conducted in privacy and are completely confidential and our counselors will assess your situation and offer advice and recommendations on how to move forward. In many cases debt consolidation is one of the most effective methods to solve a debt crisis and our company is able to help with all debts, excluding credit card debts. With debt consolidation, consumers are able to consolidate or combine all of their debts and make one easy, monthly payment. The first step in debt consolidation is a consolidation loan and this will allow consumers to group all the debts into one loan, settle creditors and pay back the loan.

However, there are negative factors of the debt consolidation loan, such as a higher interest rate and secondly, many consumers will not be able to obtain a loan, because they have fallen behind on their payments and they have a low credit score. The upside is that there are other methods of debt consolidation, and one is a Debt Management Plan. The DMP or Debt Management Plan will also be able to consolidate all unsecured debt, and consumers will also be able to pay only one amount to their debt, instead of trying to service different creditors. The upside of DMP is that no extra debt will need to be taken out, and creditors will be more inclined to lower late payment fees or reduce the high interest of the debt. This type of debt consolidation plan usually lasts for a period of three to five years; however, once all the debt has been repaid, our goal will be to assist consumers to repair their credit report and their credit score. There are other methods of dealing with debt, all of which can be viewed on the American Financial Goals website, www.myfianancialgoals.org.

More than providing worthwhile advice on debt consolidation, our website also offers online users access to calculators, credit reports, and budgeting. If you are struggling to make ends meet and not in a position to meet your financial obligations, a solution must be found before it is too late. With debt consolidation, consumers will be given the breathing space that is needed and they will be able to consolidate their debt and make one, easy payment. Find out more about our services and view the other options which are available to over-indebted consumers.