The Current State of American Consumer Debt
These are similar terms but mean different things. Many people get them confused. Here is a...
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.
These are similar terms but mean different things. Many people get them confused. Here is a...
Examiners found servicers engaging in unfair practices in trying to collect on private student loans discharged in bankruptcy
For many people, the announcement last year that the three major credit reporting agencies would remove paid medical debts from credit reports was a welcome relief. Medical bills and the confusion those bills and insurance cause, has led to many people owing debts they never planned for. Here is an update on the changes to credit reports, credit scores, and how to manage medical bills.
Budgeting can be challenging, but more digital tools are available to help you boost savings, lower debt, and experience greater peace of mind about finances. Discover some of the best money management apps to help you achieve more financial stability in 2023.
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.