How to Get a Lower Interest Rate on a Loan
To help address high interest concerns, we’ve put together a list of some steps people can take to try and bring down rates on existing loans.
Manage Your Debt - Let's Explore Your Options
GET STARTED NOWThese are similar terms but mean different things. Many people get them confused. Here is a short description of what each term means and you can always call us for more clarification.
A Debt Management Plan from American Financial Solutions will:
Debt Consolidation normally refers to a loan that consolidates debt payments, however, many people confuse this term with Debt Payment Consolidation which is what we can offer through our Debt Management Plan. Debt consolidation loans generally come with high interest rates and are not available to people who are falling behind on their payments or have poor credit and a very high debt load.
Debt Settlement involves making an agreement with a creditor to pay back less than the full balance of the debt. Many companies offer debt settlement but beware. Their fees are high and they the consequences can have a severe impact on your credit. Also creditors can sue you before you have time to build up enough payments to offer a settlement. There are also tax implications. Many companies use provocative advertising to lure consumers into this process without disclosing all the pitfalls.
Browse our recent blog articles and you will see and learn about the various ways AFS can help you, as well as educate yourself.
To help address high interest concerns, we’ve put together a list of some steps people can take to try and bring down rates on existing loans.
Ten tips to help prioritize the budget income and expenses.
If you're considering homeownership in a rural area and think your options are limited due to income or savings, the USDA's Section 502 Direct Loan Program could be a game-changer for you.
Call us at (888) 864-8548
and your counselor will review your credit report, analyze your financial situation and help you find the option that's best for you.