Debt Solutions: Why Get a Debt Consolidation Plan

Are You Looking for Debt Solutions to Pay off Your Existing Loans?

Get the best debt help at Creditfix – IVA.

Debt recovery for financial freedomSometimes, we get too overwhelmed by the loan privileges that different creditors offer us because of our good credit score. So we just loan here and there to meet with our lifestyle, thinking that we can afford to pay them all. However, too late then would we find that out that we are already swimming in the river of liabilities. And worse, by that time, you’ll need to get another loan for emergency purposes. And this time, the loan is now a real need. After that, you’ll be trapped and drowned in payables.
And if you are one of these people, you’ll need to get out of it. You’ll have to find debt solutions to help you become free once again. And one of the debt solutions that you may want to consider the plan.

What Is Debt Consolidation?

Consolidation of loans gives you the privilege to combine all your unsecured debts, including medical bills, credit cards, payday loans, personal loans, etc. into one new single liability. So instead of having to pay multiple loan, say six in a month, you’ll just have to pay one time in that new loan, the debt solutions company will just be the one to divide the payment to all your loans. In that case, you don’t have to worry about not being able to pay one of your liabilities. They will do the work for you.

There are many advantages that the debt consolidation can give you especially when you are consistent in your payment term.

Advantages of Debt Consolidation

1. Debt consolidation helps lower your interest rates

Let’s say you have an interest rate of 10% in your two-year loan, 12% in a personal loan, and another 10% in a payday loan. With debt consolidation, the debt solutions company can settle the interest rates for your creditors and may give you a new interest of only 9% in your new loan.Debt consolidation as solution to debt

2. Liability consolidation protects your credit score

If you cannot pay on time on your multiple loans, your credit score will significantly decrease, and once you settle your loans, it might take you more time and effort to get you back on having a decent credit score. With consolidation, your credit standing will be protected, so you don’t need to worry about having your credit score reduced.

3. Your monthly payments will become lower

Aside from lower interest rates, your monthly payments are also lower compared to the total monthly payments you’ll have on your previous multiple loans.

Debt solutions4. You’ll be able to pay off your debts faster

In this type of plan, the debt solutions company will be the one to sort out your payment to your different creditors, which makes your paying less hassle and faster. You don’t have to worry about budgeting your payment to different lenders. Just pay the monthly payment of your new consolidated loan, and you’re done with all the monthly payments of your loans.

Conclusion:

Have a faster payment of your multiple loans, while having lower interest rates and monthly payments, and at the same time protecting your credit standing. Get a liability consolidation plan now and be worry free.

Why Get an Online Financial Advisor

Do you need advice in running your finances but don’t have the time meeting a personal advisor?

You can look for Life’s Great financial advisors online.

As an adult in the UK, who has a lot of responsibilities and obligations, your days and weeks may be filled with different tasks to finish, and you still have to balance work and family. At the same time, you also have to take care of your finances for a better financial stability and security in the future.

But again, you don’t anymore have the time to study how to manage your finances. It will take time and you don’t have time for that. You have business to think in mind and the welfare of your loved ones also. That is why financial advisers are there: to help you in managing your finances.

But what if again, that instead of meeting a financial advisor from time to time, you’d rather spend it with your family?

Did you know that you can spend time on other things and still get a financial advisor?

Yes, you can, as there already are financial advisors, online which can help you in your finances such as getting insurance, etc.

What Is an Online Financial Advisor?

An online financial advisor, or also known as a “robo-advisor” is an online financial management service that uses intelligent algorithms to automate financial advice online.

A robo advisor reads your profile and from that, gives you the best financial management solutions online that fits your current state and financial capability.

Online financial advisers typically work to those who do not yet have enough funds to get a personal adviser, or to those who do not have time to get and meet to discuss his/her finances.

What Are the Benefits of an Online Financial Adviser?

There are a lot of reasons why you should get a robo-advisor. Some of the big reasons are because:

1. Robo-Advisors Give Advice at a Less Expensive Rate

Hiring a traditional financial advisor can be quite costly, that is why only a few people get one. However, with the development of technology, online financial advisors have been developed. And because it is automatic, robo-advisors charge you almost the same as with other investors. With robo-advisors, you can be assured that you are only paying for the service that you’re getting, and no more extra fees. Besides, robo-advisors calculate the charges using algorithms that read your status and your availed service, so you can be assured to get an objective and well-calculated calculated fees.

2. Easier Investing

When the robo-advisor has gotten your profile, it can easily read your financial state and can right away give you investment recommendations. Traditional advisors may refer to their “gut feels” on giving you advice on investments, but robo-advisors give you financial advice based on the market and investment patterns. This gives you a more objectified advice that is based on your best interest and financial capability.

Conclusion

Traditional financial advisers also prefer more financially capable clients which filter the majority of people such as in the UK. But with an online financial advisor, you can get help on managing your finances for your best interest at a less expensive rate and in a more convenient way.