Debt Consolidation With Keel Associates Can Reduce Debt And Raise Your Credit Score

Debt is a part of pretty much everyone's life. Whether it be a financed car, home, boat, credit cards, or all of the above, we all have some debt. It's easy to get over your head with debt but luckily, there are solutions!

While many folks turn to bankruptcy, that's not always the best option as it stays on your credit file for seven years. If you have already found yourself in a hole that seems irreversible, bankruptcy is not your best option. As TheLendersNetwork.com succinctly states:

Filing for Bankruptcy Doesn’t Help Your Credit at All 

"When you file for bankruptcy you’re giving your credit the death penalty. The bankruptcy and all of the accounts included in the bankruptcy will appear on your credit report for the next 7 years. Even a few years down the road creditors will see you as high risk. You’ll have a hard time getting new lines of credit, or loans for many years. Most people understand this, however they’re told they have no other options and that they have to file bankruptcy if they can’t pay their debts. False! 

Your credit will recover faster if you don’t file bankruptcy

 If you do not file for bankruptcy and just ignore the collection agencies, the credit damage you suffer will actually be less than filing for bankruptcy. Unpaid delinquent accounts are just as bad for your score as delinquent accounts that are included in a bankruptcy are. In fact, accounts included in bankruptcy are far worse than a regular unpaid collection. You may think that $50,000 worth of collection debt is what is hurting your score and by filing bankruptcy that unpaid debt will go from $50,000 to 0. It’s true the balances will show a zero balance, however unpaid collection debt is not included in the credit scoring algorithm. It’s the 15 collection accounts that are hurting your score, the number of collection accounts is what impacts your score, not the balances. This is why paying collections does NOT improve your credit score." 

 How Can Keel Associates Help Me?

Keel Associates provides low interest rate debt consolidation loans. They break down all of your debt and work closely with you to help find solutions and the best rate to accomplish your goal of lowering your debt thereby raising your credit score. They combine all of your debts so you can make one monthly payment to pay off all debt, sometimes lower than all of the payments you are making individually. They are committed to providing their best services and encourage you to meet your goals. It truly is the better option in paying off your debt and the extra help you receive from Keel Associates will get you right back on track! It's so simple and affordable, it's almost impossible not to try!

Have you ever tried debt consolidation? What was your result? I'd love to hear your story in the comments below!

Nationwide Debt Reduction Services Has A Surprising Offer

Raise your hand if you're in debt.

Right. That's what I thought.

I, of course, am in the same boat. This is what happens when you send your daughter to Japan. When you own a car. When you breathe.

As I mentioned before, one of my goals in the near future is to buy a plot of land and either build a house (because, you know, I'm handy like that), or just buy a house. So, what's the first thing you must do in order to acquire a mortgage? Lower your debt and clean up your credit.

As you can probably guess, I have been searching for debt reduction services. Luckily, I don't have too much debt, but I have enough that it bothers me and I want it GONE.

I found some interesting information. For example, I was extremely confused about debt to income ratio but the Consumer Financial Protection Bureau explained it quite succinctly:

"To calculate your debt-to-income ratio, you add up all your monthly debt payments and divide them by your gross monthly income. Your gross monthly income is generally the amount of money you have earned before your taxes and other deductions are taken out.  For example, if you pay $1500 a month for your mortgage and another $100 a month for an auto loan and $400 a month for the rest of your debts, your monthly debt payments are $2000. ($1500 + $100 + $400 = $2,000.) If your gross monthly income is $6000, then your debt-to-income ratio is 33 percent. ($2000 is 33% of $6000.)"

Awesome. I get it. Now, more (not) great news via Debt.com:

"Americans now have record-high credit card and student loan debt. Auto loan debt also broke some records last year.
According to the latest 2018 data from the Federal Reserve:

Americans hold over $1 trillion in credit card debt ($1,023,000,000,000)
Nonrevolving debt (loans) total over $2.8 trillion ($2,842,400,000,000)
According to a Y charts investment company:

To kick off 2018, the total outstanding auto loan debt totals $1.22 trillion ($1,221,000,000,000)"

After I went outside and screamed into the wind, I came back in and continued my search. I came across National Debt Reduction Services and instantly breathed a sigh of relief. There is a plethora of information and resources AND they don't even charge you for their help until your debt is settled.

As I was perusing the website, I came across a great surprise! They are offering a $1,000 scholarship to any high school senior that has been accepted to any university or any college student not in their final year! To enter you just have to write a 500 word essay and fill out this Nationwide Debt Reduction Services entry form!

Debt is on the rise, but I am determined to stomp it out on my end. How about you?