To qualify for the 0.50% rate reduction, you must apply for an unsecured Personal Loan by March 31, 2019.  Applications can be made online, over the phone, or in a branch.  The 0.50% rate reduction applies only to new loans applied for during the eligibility period, and is not retroactive to any existing loan(s).  The 0.50% rate reduction is in addition to any relationship discount for which you may qualify. The Annual Percentage Rate (APR) for unsecured Personal Loans ranges from 7.49% to 24.49%.  For unsecured Personal Loans applied for by March 31, 2019, the rate reduction APR ranges from 6.99% to 23.99%.  Rates are as of January 2, 2019, and are subject to change without notice.
While many people focus on the interest rates associated with loans, there are other things to keep in mind as well. If you want to make sure that you get the best deal, you also need to think of fees. Many loan companies try to hide the true cost of their loans by adding in fees at the end of the process. Always make sure that you check the terms of the loans to make sure that there aren’t any hidden fees.
The best things in life are free. It won’t cost you a dime to speak with one of our experts about your situation. We’re upfront about the results you can expect from our program. If we don’t think you’re a good fit, we’ll tell you. We have an amazing word-of-mouth reputation, and we plan to keep it that way. The last thing we want is a disappointed client. Why not reach out to us today?
This isn't good news for the millions of American consumers who struggle with mounting debts and less-than-perfect credit scores. Since carrying long-term debts increases your chances of missing a payment, running up excessive balances or damaging your credit in either ways, debt consolidation lenders don't have a very big pool of potential applicants at their disposal. Unless you've been fortunate enough to maintain a stellar credit score during your debt struggles, you might have to look elsewhere for help.

The chart below shows just how long a negative item can stay on your report and the average credit score drop that it can have. A late payment, for example, stays on for 7 years and can drop your score more than 35 points! If you have one on your credit report, there is nothing you can do about that, but there are things you can do to ensure it does not happen in the future.


If you have multiple credit cards and especially if they’re high-interest cards another option would be to make a balance transfer either to a card with a lower interest rate or, better yet, a 0% interest balance transfer card. If you were able to transfer credit card debts that averaged 15% to a new one at 12% you would have a lower monthly payment and this could make easier for you to reduce your credit card debts. An even better deal would be to transfer those debts to a 0% interest balance transfer card, which would give you a timeout of anywhere from six to 18 months during which you would not be required to pay any interest at all. This means all of your payments would go against reducing your balance and if you were able to heavy up on those payments you could actually be debt-free before your promotional period ended. If this sounds like a good option be sure to read the fine print before you sign up for that new card. It could have a high transfer fee that would wipe out some of the savings you would achieve by transferring your debts.

Debt settlement is a process of negotiating a full and final settlement with creditors to satisfy a debt balance. Companies such as National Debt Relief collaborate with consumers to reach a settlement that is acceptable to both parties. While it is not an easy or fast process, and it will have a negative effect on your credit, it does have the ability to completely eliminate your debt problem and save you from some of the pitfalls of debt consolidation.


Following these 6 steps people with bad credit are sure to succeed. I would like to add while paying down your credit card debts one option that may help you get ahead is to take advantage of credit card transfers. Normally banks will let you transfer your balance (they’re more than happy to take it) for a small fee. One word of caution however, is that this doesn’t really fix the underlying issue, which as Sarah mentioned budgeting and keeping on top of your payments will.


When shopping for a debt consolidation loan, you should watch out for red flags including aggressive sales representatives, guaranteed approvals and quick-fix promises, as well as requirements such as upfront payments before loan approval or access to bank accounts for automatic withdrawals. “No lender should charge you upfront before you get the loan … and you certainly shouldn’t send money with a wire transfer or prepaid card,” Detweiler cautions.

We are almost always able to negotiate better settlements than can individuals on their own because of our experience and expertise. We charge no upfront fees and, in fact, charge nothing until we have settled all of your debts to your satisfaction. When you agree to work with us, you will begin sending National Debt Relief an agreed-upon amount each month, which is deposited in an escrow account that only you can control. Once enough money has accumulated in your account, we then begin negotiations with your creditors.
Over time, the debt reductions that we're able to secure could enable you to begin building up a store of savings or adding to your existing retirement account. For many past clients, our program was a turning point: Before enrolling, they lived paycheck to paycheck and could still barely afford to make ends meet. After successfully completing our debt settlement plan, they finally had the means to prepare and save for the future. It's the least we can do to help.

The idea behind the snowball method is that you would be able to get one of your credit cards paid off fairly quickly and would then have extra money available to begin paying off the credit card with the second lowest balance and so on. We’ve seen examples where people were able to pay off $20,000 in debts in just 27 months using this method. Dave calls it the snowball method because as you pay off each debt you gain momentum for paying off the next credit card debt much as a snowball gathers momentum as it rolls downhill. A similar debt payoff method is called the debt avalanche. Both plans try to accelerate paying off your debt. They both can work if you can stick with them and have the money needed to pay off your debt.

At Prosper, we understand the importance of maintaining the best credit score possible. In fact, some of our investors were also borrowers at one point and chose to consolidate their personal loans into one low interest monthly payment. We can help you, too. And since Prosper offers access only to unsecured loans, you need not own your home for debt consolidation. Apply today and see how much you can save.
When shopping for a debt consolidation loan, you should watch out for red flags including aggressive sales representatives, guaranteed approvals and quick-fix promises, as well as requirements such as upfront payments before loan approval or access to bank accounts for automatic withdrawals. “No lender should charge you upfront before you get the loan … and you certainly shouldn’t send money with a wire transfer or prepaid card,” Detweiler cautions.

Interest savings: If you have multiple sources of debt with high annual percentage rates, you can save on total interest if you get a debt consolidation loan with a lower rate. For example, if you consolidate two credit card balances with APRs of 16.24 and 23.99 percent into a debt consolidation loan with a 15 percent APR, you will save on interest. “Rates can be considerably lower than credit card interest rates, so you’ll save money in interest fees,” says credit expert John Ulzheimer, formerly of Equifax and Experian. “Second, loans have a finite amortization period, generally not longer than a few years. You can’t say the same about credit cards.”
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