Chasing several different bills around every month is stressful and complicated. If you forget to address even one account, the phone calls begin and letters start to arrive. With Plush Funding, you can work towards a debt consolidation that will allow you to pay one bill per month. It’s simple, fast and could save you a lot of money.
What Is Debt Consolidation?
Before we get into specifics, it may be helpful to briefly explain what debt consolidation is. Basically, debt consolidation is a financial strategy whereby someone takes all of his or her debts and, with the help of a new creditor, pays them off in full. The amounts paid to those creditors are then put into one overall debt that’s held by the company that paid them off. The person who owed these different debts now pays that new creditor in installments. In essence, many loans are reduced to one loan. This is an immensely helpful step for a lot of people for reasons stated below.
According to Debt.Org, credit card debt in the United States surpassed $1 trillion during the third quarter of 2019. The same report indicates that more than 189 million Americans have credit cards, and that the average card holder has at least four of them. Every household in the United States with at least one credit card to its name carries an average of $8,398 in credit card debt. Some basic math will show just how difficult that position is, even using the averages.
According to CreditCards.com, the average credit card interest rate in the United States at the end of 2019 was 17.27 percent. Using a calculator from Kiplinger’s, that means that it will take approximately 12 years to pay that debt off if you make all the monthly minimum payments on time. The monthly minimum payment will decrease with the balance as you pay over time, but initially, it would likely require between $250 and $300 per month.
Credit card debt is only one form of debt Americans have to deal with every day. Aside from what many believe is “good” debt that relates to homes and vehicles, which also totals trillions of dollars, Americans also owe nearly $1.5 trillion in student loan debt. These loans can and often do take most of a lifetime to pay off, and these payments are a constant that are a burden for anyone trying to get ahead in life and plan for the future.
Are you tired of worrying about not only paying all of these bills every month in terms of their cost, but also with regards to the time you have to spend planning and managing these payments? Is your calendar filled with days in which some payment to some creditor is due? Are your interest payments on your debts so high that it seems as though you’ll never truly get ahead of what you owe so you can start paying down those balances consistently?
Plush Funding Can Help With Debt Consolidation
Plush Funding has been helping people with this type of problem for over a decade. We know what it’s like to be constantly chasing this payment or that one, trying desperately to stay ahead of creditors for just one more month until hopefully, something breaks in your favor. The trouble is that doesn’t usually happen. That windfall that people hope for is generally an unrealistic idea, so people find themselves on a treadmill and ultimately feel like there’s nothing they can do.
With Plush Funding, there is something you can do. If you work with us on a debt consolidation, you’ll be able to combine all of your eligible debts into one. That will allow you to make a single payment every month. Suddenly, your payment calendar is completely simplified. Suddenly, you’re not spending so much time planning payments ahead of time – you know what needs to be paid and when, and instead of spending hours managing this situation, you spend minutes.
Not to mention, in many cases a debt consolidation can lead to much lower interest rates. That makes a huge difference with debt servicing, as it means that you’re going to be paying off more of the principal of that debt every month as opposed to interest charges. Over time, that can save you not only on a monthly basis, but it can cut thousands of dollars off of the total amount you pay until that debt is retired, or completely paid off.
What are just some of the benefits of debt consolidation with Plush Funding? A few examples include:
- One payment instead of many
- A lower interest rate
- Lower monthly payments compared to your old minimum payments
- More money in your pocket every month
- A steady reduction in your total debt
- Peace of mind
- Higher quality of life
How does debt consolidation work with Plush Funding? It’s as simple as making one monthly payment instead of 10 or 12. All you need to do is fill out the form on this page that provides us with some preliminary information. We’ll make use of that and help you determine what’s eligible for debt consolidation. We’ll also help you obtain an idea of what your new monthly payment would look like, what your interest rate would be and, perhaps most importantly, how quickly you’d be able to pay that debt off once and for all.
Filling out the form takes minutes, but a successful debt consolidation can save you more time than you could likely imagine. In addition, your lowered stress level would most likely lead to more sleep instead of spending those nights tossing and turning, worrying about how you’re going to make ends meet that month. You may even find yourself in a position to start saving money on a regular basis so that you can have a safety net in place in case some other unforeseen circumstance arises, such as a car problem or a medical issue. Wouldn’t that be a nice change of pace?
We hope you’re ready to take control of your debt instead of having it hanging over your head every day, governing you and your daily decisions. If so, it only takes a minute to fill out the form. If you’re not quite ready to do that yet, we understand that as well. You can and should feel free to contact our team of financial professionals at any time. We’re here to listen to your situation, walk you through the process and help you pay off all those separate debts so you can organize them into one that you can manage. We look forward to working with you and helping you get back to a life of peace and happiness.