http://www.primedebtsolution.com/debt-reduction/debt-reduction-programs/ Debt reduction programs can get you out of debt fast and save you a lot of money in the process. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 What is there to say about debt reduction programs? Plenty! We know a thing or two about debt reduction assistance! Extra! Extra! Read All About It! About debt reduction programs, that is! If you aren't in debt, you probably aren't familiar with debt reduction programs. Then again, you probably wouldn't be on this site, either. But if you are in debt (and we assume you are) and you're looking for a way out, you've come to the right place. Sit down and get comfy because we're going to going to give you a brief overview of debt reduction programs and how they can give you the Christian debt reduction you long for: Debt Consolidation - This is the most common debt reduction program because it doesn't have any requirements except that you're employed. What happens is that your debt consolidation professional will contact your creditors to get your balances and interest rates reduced. Then they combine all the new, lower balances and you make one monthly payment to the debt consolidation company, which they distribute to your creditors for you. Because of all the reductions they're able to get for you, you can be debt free in five years. Debt Settlement - Under this type of debt reduction plan, a debt settlement professional contacts your creditors to get you reductions of 60-80% off what you owe. What's the catch? You have to pay the new amounts off immediately, that's all. In some cases, you can get one to three years to pay it back, but that's rare. Also, it effects your credit in much the same way as a late payment. Debt Consolidation Loan - This is a loan given to you to pay off your unsecured debts in full. However, there's nobody working on your behalf to get your balances and interest rates reduced. But you do get a low interest rate on the low (think single-digits) which enables you to pay it off in five years or less. Compare that to how long it will take you to pay off your credit cards! And think of all the money you'll save not paying high interest rates and finance charges. Student Loan Debt Consolidation - This is for people who have $10,000 or more in student loan debt. It combines your loans into one, gets you a much lower interest rate and cuts your monthly payments in half. Debt Consolidation Mortgage - If you're a homeowner, this is by far your best debt reduction option. You get a loan from your mortgage company for the amount you owe in unsecured debt. That amount is actually added in to your mortgage, so your monthly mortgage payment goes up, but only slightly. The best part is that your interest rate is the same low rate as your mortgage. If your creditors are hounding you day and night about your debt, enrolling in any of these debt reduction programs will get them off your back. Plus with most of these plans, you'll save thousands of dollars in interest and you'll be out of debt sooner than you ever thought you could be. Get the skinny on all of the debt reduction services that can help you to get rid of the debt for good. Sat, 26 Jul 2008 15:00:00 EDT