Manage Debt with Debt Navigator™
Often, credit card debt is the result of emergencies and expenses that aren't anticipated in a household budget. If your situation falls into this category, or if you have acquired debt for other reasons, chances are you can follow a plan to eliminate destructive debt. With your resolve and the Debt Navigator Plan, you can manage your way to debt-freedom years sooner and pay thousands less in interest charges. What's more, your credit will be stronger. Get Started with your plan today.
Consolidation
Many heavily advertised companies, billed as 'non profits', appear to offer their counseling 'as a public service'. In most cases, they'll recommend consolidation - combining all your debts into a single obligation that they manage, negotiating a lower payout that reduces your payment but destroys your credit. You are expected to pay them on time, but you have no control over when or how they pay the creditor. Your interests are best served by dealing directly with the lenders, armed with the knowledge Debt Navigator provides.
Balance Transfer
Credit card companies establish new accounts with low initial interest rates - rates that jump after a few months. Moving your credit card balance to exploit a lower initial rate with another card increases your unsecured debt exposure. The consequence of this is to further reduce your credit score. In addition, there are often hidden costs including transfer fees and high rates charged retroactively if your balance isn't completely paid off by the end of the "promotion period". Debt Navigator shows you ways to shift balances where appropriate without damaging your credit.
Settlement
Credit card companies write off a percentage of the debt they hold. If you, or a consolidator you hire, get your debt downgraded to a lower percentage rate, your account shows that you failed to pay as agreed. It damages your credit rating and your future access to money for a home or other constructive borrowing. At Debt Navigator, we show you how to reduce the interest you pay, while improving your borrowing potential.
Home Equity
If you've owned your home for a few years, chances are you have equity that could be used to retire high interest consumer debt. When you chose this option it is likely your mortgage balance will go up. But more important, your home, often your most valuable asset, is at risk. History shows that, the lower your equity, the more likely your home will wind up in foreclosure. Debt Navigator will show you how to lower interest payments and retire debt without putting your home at risk.
