Debt Consolidation Center

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Loans-Center.com is dedicated to assisting consumers that are having difficulties with their personal finances. We offer many solutions from different top rank financial service organization through debt consolidation programs that can help clients into reducing their overall debt.

We understands the countless circumstances that force people into debt: medical emergencies, sudden loss of job, and over spending. These recommended programs will tailor a repayment plan to meet your particular needs. Creditors will arrange the best possible financial assistance so that you repay your debt and meet living expenses at the same time. We will help decreasing credit card debt and interest, lowering and consolidating monthly payments, eliminating your late charges and over the limit fees, and managing and improving credit rating.

DEBT STATISTICS

The average American household has 13 payment cards, including credit cards, debt cards and store cards. There are 1.3 billion payment cards in circulation in the United States.
Americans made $1.1 Trillion worth of credit card purchases in 1999.
Americans carry, on average, $5,800 in credit card debt from month to month. If one were to make only the minimum payment on that debt every month, it would take 30 years to pay off - and include an additional $15,000 in interest.
According to the American Bankruptcy Institute, 302,829 people file for bankruptcy in the first quarter of 2000.
On average the typical credit card purchase is 112% higher than if using cash.
Over 40% of US families spend more than they earn. (Federal Reserve).
96% of all Americans will retire financially dependent on the government, family, or charity. (U.S. Dept. of Health & Human Services)
Almost one out of every 100 households in the United States will file for bankruptcy.

A 1992 Federal Reserve study showed that 43% of U.S. families spent more than they earned.
According to the National Association of Realtors the average homeowner stays in their home for 7.1 years (1993 statistic). With an 8% mortgage, they will sell their home still owing over 90% on their mortgage. If they were to continue this trend they would NEVER pay off a mortgage in their lifetime!
Only 2% of homes in America are paid for!
On average, Americans can expect to receive just 37% of the annual retirement income they will need to live comfortably. [America's Retirement Crisis: The Search For Solutions- Openheimer Funds Dist., Inc. 1993]
As of 1995 92% of U.S. family disposable income is spent on paying debts, up from 65% in 1975. [Federal Reserve]
For the year ending June 30, 1996, personal bankruptcies totaled more than ONE MILLION for the first time ever in a twelve month period. That is almost one bankruptcy for every 100 U.S. households.
On average, you will spend 112% more on a credit card purchase than when using cash.
The average household has four credit cards with balances around $4,800, up from two cards and $2340 in balances five years ago. [RAM Research, 1996]
Making the minimum payment on a $4,800 balance (average balance of U.S. cardholders) at the average annual 17% interest rate, it would take you 39 years and seven months to pay off. You would pay $10,818.63 in interest alone, and a total of $15,619 for the privilege of charging the $4,800!
Nearly half of all Americans (46%) have less than $10,000 saved for their retirement. And 39% of Americans are anxious about their ability to achieve their desired retirement lifestyle. [Miles To Go: A Status Report on Americans' Plans for Retirement-Public Agenda, 1997] It can either be the golden years or the golden arches.
An $8,000 debt at a rate of 18% interest will take you over 25 years to repay and cost you over $24,000 in the long run.

f you answered yes to any one of the questions, then there is good news. New Step debt consolidation can help you in taking that next step. Simply fill out our debt consolidation quote form and one of our trained debt consolidation specialist will contact you within 24 hrs. to discuss some of the many financial advantages towards joining our debt consolidation program.

Our debt consolidation service will get your creditors to:

1. Lower your monthly payments.
2. Reduce or even eliminate interest rates
3. Stop late or over the limit fees from being assessed on your accounts
4. Help you re-establish your credit worthiness.

This is not a typical debt consolidation loan and you won't be denied. There is no home ownership required. Our debt consolidation specialist will establish a payment plan that will assist you in repaying your unsecured debt obligation. While you are on our program you will see your debt eliminate and you will be on your way towards a debt free life.

Your credit score is the leading industry indicator of your credit standing among credit grantors. The risk categories are based on U.S. credit score distribution and do not necessarily reflect how lenders make their credit decisions. Please be aware that there are many different types of credit scores used in the financial services industry. The type of score used, and its associated risk levels, may vary from lender to lender.

WHAT MAKES UP YOUR SCORE

Your Score is based on the combination of your positive and potentially negative factors on your credit report. For suggestions on what you could do to potentially help your credit, read the Score Factors below.

Elements from your credit report often are not the only factors determining your credit score. Many lenders also use information submitted on a credit application — such as your income and employment history — when determining a custom credit score. Please be aware that the advice below is not intended to be, nor should it be construed as, legal advice. In addition, the advice below is oriented to the Experian credit score only; lenders often use their own custom credit score and score factors when making credit decisions.

SCORE FACTORS THAT ARE POSITIVELY AFFECTING YOUR SCORE
Listed below are the top factors that raised your score. They are listed in order of importance.

No applications for credit made in the last two years.
Having no applications for new credit in the last two years shows lenders that you are less likely to accumulate additional debt by opening new accounts.

Few, if any, 30 day (or more) delinquencies.
You do not have a delinquency of 30 day or more reported on your credit report. Continue to pay all your bills on time - it is generally the single most important contributor to a good credit score.

SCORE FACTORS THAT ARE NEGATIVELY AFFECTING YOUR SCORE
Listed below are the top factors that lowered your score. They are listed in order of importance.

Lack of a real estate loan (or lack of a real estate loan that has always been paid on time)
In most cases, having a real estate loan that has always been paid on time shows lenders that you have established a strong credit base, and reflects positively on your credit responsibility. The lack of a real estate loan on your credit report does not decrease your score; however, it generally means that your credit score may not be as high as it could be. One or more late payments on a real estate loan usually has a significantly negative effect on your credit score. Since a real estate loan is typically a consumer's greatest debt obligation, lenders generally view late payments as a sign that you may be having trouble meeting all of your debt obligations.

The outstanding balances on your revolving accounts are greater than the average in your credit category
Your outstanding credit balances on your revolving accounts are higher than the average consumer in your credit category. Most lenders view this negatively because it may show that you are taking on too much debt. By avoiding taking on new debt and paying down your total debt as soon as you can, your credit score will usually improve.

The total credit extended to you across your bankcard accounts is less than the average in your credit category
Since current lenders have extended you lower bankcard credit limits than average for your credit category, a new lender may assume that you are riskier than average. If you minimize outstanding debt and pay all your bills on time, many lenders will eventually raise your credit limits.

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