Credit Card Debt Consolidation Service Comparison

When implemented wisely, a home equity loan, also called a debt consolidation program loan, provides almost instantaneous debt relief for the homeowner facing a financial crisis. At WCCD, even those clients with a bad credit rating can frequently still take advantage of a home equity loan. That being said, many clients also contact WCCD after they’ve completely exhausted the equity in their home. In cases like these, WCCD is able to offer an alternative to credit card debt consolidation, that can help a client reduce monthly bills and eliminate credit card debt.

"While debt consolidation may reduce your monthly burdon, it does not actually reduce the amount of debt you owe. If you find yourself unable to make your new and larger house payment, you risk losing your home."


Debt Consolidation Advantages Can improve credit rating and facilitate access to additional credit. Most immediate of all solutions for retiring other debt and receiving cash. Can significantly lower the overall cost of monthly bills, as well as credit card debt. Simplifies debt repayment by replacing several small loans with one large loan.	Debt Consolidation Disadvantages Creates new long-term debt by converting existing unsecured debt into new secured debt. Repeated use of the equity option to pay down other debt negates equity gains that can only be reclaimed over time. Provides only debt replacement, and not debt reduction. Does not reduce the amount of debt you owe, unlike debt settlement.

Credit Card Debt Consolidation, based on a home equity loan, can ease your monthly debt repayment obligation by lowering the overall amount of interest that you must repay, and by extending the duration of time that the loan must be repaid. However, it actually does not lower the amount of debt that you owe. Furthermore, it places your home at higher risk for foreclosure if you cannot afford your increased mortgage payments. Only debt settlement or bankruptcy services can lower the total amount of credit card debt owed to your creditors without impacting the equity and cost of your home.

Need to Wipe Out Credit Card Debt? Receive a Credit Card Debt Consultation and Information FREE!
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Upon your submitted debt consultation quote request, WCCD will attempt to have a certified debt mediator contact you through the contact information you provide. We look forward to helping you wipe out credit card debt.