Debt Consolidation Programs vs. Debt Consolidation Loans

Many consumers make the mistake of thinking that a debt consolidation program, such as the FreedomQuest Debt Management Program, is the same as a debt consolidation loan. The FreedomQuest Debt Management Program is not a debt consolidation loan. Our credit counselors at Consolidated Credit Counseling Services do not have any ties to banks; instead we work with your creditors to lower your interest rates, reduce your monthly payments and get you back on track with your bills.

A debt consolidation loan usually requires some type of collateral, such as a car or home. You take out the car or home equity loan and then use the monies to consolidate your debts. Once you pay off your credit cards, they’re still open and available for use. If you choose to continue to depend on these credit cards after getting the debt consolidation loan, you make your financial situation worse. Now you have to pay back your new credit card debts and a debt consolidation loan. If you can’t make your payments, then you risk losing your car or home.

Don’t put your car or home at risk with a debt consolidation loan. Join the FreedomQuest Debt Management Program by calling 1-800-320-9929 for a free debt consultation.

Why is the FreedomQuest Debt Management Program better than a Debt Consolidation Loan?

A debt consolidation loan is only a temporary fix to a much larger problem. Most consumers get into credit card debt, because they haven’t been taught the necessary skills to effectively manage their personal finances.

The FreedomQuest Debt Management Program not only consolidates your debts, but it also teaches you to manage your finances. Through financial education, Consolidated Credit Counseling Services teaches important money management skills to help you stay out of debt once you’re out of the program.

Call 1-800-320-9929 to find out the best way to manage your debts. A credit counselor at Consolidated Credit Counseling Services will provide a a free debt consultation and advise you if the FreedomQuest Debt Management Program will work for your financial situation.

Note: Some consumers are able to take out personal loans without using collateral; however, that usually requires “perfect” credit. It’s rare that a bank will give a debt consolidation loan without asking for some type of collateral.