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What is debt consolidation?

Debt consolidation restructures your existing debt with your existing creditors. Money is not loaned, and creditors do not change --- but the terms and conditions under which the debt can be repaid usually improve significantly. Under our trusted debt consolidation plans, the monthly payment which is expected by the creditors is typically lowered. In most cases, interest due to the creditors is lowered -- and sometimes totally eliminated.

A person qualifying for a debt repayment program will usually find they are making more progress towards reducing their debt even though they are making lower monthly payments. Since most creditors report payments received under this plan as prompt payment, the person's payment history is usually improved by our repayment arrangements.

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Why should I choose Federated Financial's debt consolidation referral program?

Federated Financial was established in 1998 and has an A+ rating with the Better Business Bureau. Our goal is to place consumers on the right track regarding their finances, show them the correct way to manage their debt and teach them those skills so they last a life time. We understand the important monetary issues and challenges life can send your way and we are here to help.

Call 1-866-283-2722 or Apply Online Today!

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Can Federated Financial help me?

You're not alone and Federated Financial can help you, as evidenced by the fact that as we have helped countless others. Credit Card interest rates can be as high as 29%, and Federated Financial's clients carry balances as high as $200,000, with our average clients' debt being approximately $10,000.

Without Federated Financial's help, it would take the typical client who makes minimum payments an average of 32 years to pay off their original debt. Federated Financial's proven track record enables consumers to become debt free in much less time than they could on their own -- usually within 3 to 5 years -- with reduced monthly payments!

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What are the benefits of a debt consolidation referral program through Federated Financial?

Our referral program combines two essential elements: The motivation to get out of debt and the ability to do so. Under such a plan, you make one convenient monthly payment to our partner companies, and disburse all funds to your creditors. Usually this payment is lower than current minimum payments, and it is always within your financial ability to pay. When we pay your creditors, it is almost always at a reduced interest rate, so your payments actually go toward reducing your debt.

Federated Financial referral program can help you:

  • Lower your monthly payments
  • Significantly reduce interest rates up to 50%
  • Eliminate late fees and over limit fees
  • Stop collection calls
  • Avoid bankruptcy and legal escalation
  • Easily manage your budget with one monthly payment

Consider the following scenarios for those now making only the required minimum payments without our help:

At an annual percentage rate of 17 percent and a minimum payment of 2 percent or ten dollars ($10), whichever is greater:

A five thousand dollar ($5,000) balance will take 40 years and two months to pay off at a total cost of sixteen thousand three hundred five dollars and thirty-four cents ($16,305.34);

A two thousand five hundred dollar ($2,500) balance will take 30 years and three months to pay off at a total cost of seven thousand seven hundred thirty-three dollars and forty-nine cents ($7,733.49); and

A one thousand dollar ($1,000) balance will take 17 years and three months to pay off at a total cost of two thousand five hundred ninety dollars and thirty- five cents ($2,590.35).

Because we can generally arrange for repayment at greatly reduced interest rates, our clients typically retire comparable debt in a fraction of the time, often within three to five years!!

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How does Federated Financial partners, obtain lower payments?

They have established relationships with many of the major lending institutions and credit card companies who have agreed to either reduce or eliminate an individual's interest charges and late fees. It should be of interest to you that we may be able to substantially lower your interest rates and decrease your monthly payments accordingly.

Call 1-866-283-2722 or Apply Online Today!

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Can medical and hospital bills be included in a debt consolidation plans?

Our partners work directly with these types of creditors on an ongoing basis. We contact them immediately, and are usually successful in negotiating much better terms including lower payments and rates.

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Should I consider filing for bankruptcy instead of joining your program?

Filling bankruptcy should be your last resort in solving your financial difficulties. Although it may help you now, it will hurt you in the future. If you choose to file bankruptcy, be prepared to accept the unfortunate consequences. It will appear on your credit report for at least ten years. In addition, it can be reported for the rest of your life when applying for certain types of state licenses, jobs, and loans. Before you consider filing bankruptcy, give yourself one last chance to obtain financial freedom.

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Why shouldn't I apply for a home equity loan or debt consolidation loan to pay off my creditors?

Most people like this idea, as they receive a check to pay off all their creditors almost immediately. In addition they are told that the interest payments are deductible.

What these companies don't tell you: There is an important difference between "Debt Consolidation" and a "Debt Consolidation loan". Debt consolidation loans turn unsecured debt into secured debt. Debt consolidation loans usually require some form of collateral, such as the family home. A very large majority of people who apply for these types of loans end up in deeper financial trouble than they were before. The reason this happens is because these loans do not reduce the amount you owe. In addition, you jeopardize your two most valuable assets - your house and your family. It won't be long before your credit cards are maxed out to their limit once again. The only difference is that this time you will have two types of loans to pay off: your credit cards and the home equity loan. You will then be facing several unfortunate possible consequences, including bankruptcy and foreclosure.

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Who should consider a debt consolidation plans?

In general, anyone who can only afford to make the minimum monthly payments on their obligations should consider a debt consolidation referral program. There are many other signs of potential financial trouble, but the real guideline should be the impact it has on your life. If you are worried about your bills, you should get a professional opinion about your financial options. If you are currently behind on some or all of your payments, there is hope for your financial situation! Many creditors will bring your accounts current shortly after you begin a consolidation program. Usually one or two consecutive payments will bring an account current --- no matter how far past due it is. If your account has already been charged off, is in collection, or even has a judgment filed against it, we can still set up reasonable payments.

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Will My creditors work with your partners?

Our partners answer in most cases is a resounding YES! For more information, please contact us for a free quote.

Call 1-866-283-2722 or Apply Online Today!

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What kinds of debt qualify for debt consolidation?

Many debts can be included in a debt consolidation referral program. Generally, most unsecured debt can be included. For example, credit cards, medical bills, department store cards, student loans, taxes and bank lines of credit are examples of debt that are frequently consolidated. Secured loans such as house payments or car loans usually cannot be successfully consolidated. (Note: Secured debt is debt that is secured by something tangible, like a house or a car. In other words, if payments are not made, the house or car can be taken away. In general secured debt should be paid before unsecured debt.) Also, any loan that has been cosigned by another person will require that the other person pay on the loan if you do not meet the original terms and conditions.

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How can I dispute credit report errors?

Under the FCRA, both the CRA and the organization that provided the information to the CRA, such as a bank or credit card company, have responsibilities for correcting inaccurate or incomplete information in your report. To protect all your rights under the law, contact both the CRA and the information provider.

First, tell the CRA in writing what information you believe is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request deletion or correction. You may want to enclose a copy of your report with the items in question circled. Send your letter by certified mail, return receipt requested, so you can document what the CRA received. Keep copies of your dispute letter and enclosures.

CRAs must reinvestigate the items in question--usually within 30 days--unless they consider your dispute frivolous. They also must forward all relevant data you provide about the dispute to the information provider. After the information provider receives notice of a dispute from the CRA, it must investigate, review all relevant information provided by the CRA, and report the results to the CRA. If the information provider finds the disputed information to be inaccurate, it must notify all nationwide CRAs so they can correct this information in your file. Disputed information that cannot be verified must be deleted from your file.

  • If your report contains erroneous information, the CRA must correct it.
  • If an item is incomplete, the CRA must complete it. For example, if your file showed that you were late making payments, but failed to show that you were no longer delinquent, the CRA must show that you're current.
  • If your file shows an account that belongs only to another person, the CRA must delete it.

If you simply want a copy of your report, call the CRAs listed in the Yellow Pages under "credit" or "credit rating and reporting." Call each credit bureau listed since more than one agency may have a file on you, some with different information.

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The three major national credit bureaus are:

P.O. Box 9556
Allen, TX 75013

P.O. Box 740241
Atlanta, GA 30374-0241
Dispute Fax #: 1-888-826-0573

Trans Union Consumer Relations
P.O. Box 2000
Chester, PA 19022-2000
1-800-916-8800 (consumer relations)

Payday Loan Debt Consolidation

You can use our Payday Loan, Credit Card, & Medical debt consolidation referral programs to become free from debt.

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