DON'T Do Debt Consolidation Without Knowing this ESSENTIAL thing
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- Опубликовано: 16 июн 2024
- 3 Top Debt Consolidation Companies: tryascend.com/debt-relief/com...
Can you call or text me at 833-272-3631 with your questions?
Debt consolidation can be a very generic topic that companies potentially use to confuse consumers. There are two forms of debt consolidation that are popular in the United States, but drastically different in terms of pros and cons.
This is why it may be extremely important to understand the differences between debt consolidation before deciding whether it's your best option to get out of debt.
Here's what we will cover in today's debt consolidation video:
Chapters:
0:00 Intro
0:35 Debt Consolidation Loan vs Debt Consolidation Program
1:25 Real-Life Example
2:40 What is Debt Consolidation Program?
3:09 What is a Debt Consolidation Loan?
3:50 3 Questions to Ask
4:50 Conclusion
#debt #debtfreejourney #debtconsolidation
Music: www.bensound.com
3 Top Debt Consolidation Companies: tryascend.com/debt-relief/company/3-top-debt-relief-companies
Can you call or text me at 833-272-3631 with your questions?
I started listening to Dave Ramsey on how to get out of debt
I also almost signed up for debt consolidation
I’m happy that I found Dave Ramsey and also your channel to help me to know the difference . Running away from consolidation program right now. I worked way to hard on my credit just to have a program , stop paying on my cards . 😮 thankyou
This is really encouraging to me, so thanks for sharing these kind words! Yeah, for some people, they may have to stop paying due to financial hardship, but the key is that you know what these companies are doing before you enroll. Are you thinking of doing something like a snowball or avalanche or savvy method to prioritize debt or can you make extra payments each month? Thanks again --Ben
I was almost at a verge of signing for debt consolidation program and I had no idea, the backend story could've been chaotic. Getting loan not the program, thanks again.
Thanks for sharing! Yeah, it seems that some companies use the word to confuse. If we can help, let us know!
so helpful!! thanks so much
You're so welcome! I really appreciate the kind words!
Thanks Great Video Presentation
Thank you for the encouraging word!
Cheers mate! You saved my life!
I'm glad I ran into your channel. I will work and keep paying out of pocket as usual. Thank You!
Thank you for the word of encouragement! If the debt gets out of control, please don't hesitate to call us at 833-272-3631 and we'd be more than happy to chat through some options you have.
Thank you so much, brother. I was just saved from a DC program.
Glad the video was helpful! What did you decide to do instead?
Thank You for explaining...is important information
You are most welcome!
I am so glad I just came by your RUclips video, I was this close into signing a Debt Consolidation Program with Brice Capital! So glad I didn't, everything sounded great over the phone until I started researching the company and saw they have a grade F on BBB. Thanks again!
Thanks for the kind words!!! I really appreciate them! If you have any debt questions whatsoever, please let me know! -Ben
What are you considering doing?
Thanks for the comment! Are you considering options at the time being, Chris?
Thank you so much for this video!!
You are so welcome! Thanks for the kind words!
Wow this is awesome information. Thank you
Glad it was helpful!
I have been saved although I have weighed my options but and the only one I can get approved for is the consolidation program and I’ve been on the fence about it but thx to you Dave I won’t fall victim
Hey! I am glad the video was helpful! What do you think you will do instead? If you want to explore options, give us a call at 833-272-3631.
Thank you for your advice. This almost happened to me today. I backed out before I could sign anything. 😮
Thank you for letting me know! Yeah, I really hope that this video helps! Also, I mentioned this before, but as I'd like to be more accessible to my RUclips viewers, I am now having free quick chats. So, if helpful, would you book something on my calendar: calendly.com/ben-tejes-ascend/free-chat? Thanks - Ben
Do you know if there is anyway out after you’ve signed up?
This video is perfect and saved me from making the biggest mistake ever. Thank you thank you thank you 😊
In the contract it should say something about being able to cancel anytime, however, once accounts are settled then you may have to make those payments. If you have other questions, call us at 833-272-3631!
Oh I am so so glad! Thank you for the feedback! :)
Thank you
You're welcome! It's our pleasure :)
Wauu thanks for all this info. I was about to make this mistake 😢
My pleasure! Happy to hear that it was helpful!!
Finally someone who understands just because we're become a more technologically advanced as a society it's no reason to treat people more like numbers and less like human beings!
Amen to that - 100% agreed!! Thanks for the comment, Susie! More content soon about more processes we don’t agree with
Thank you for info. I wonder if the low 3.86% interest rate offering in the mail is true. What is the minimum interest rate usually offer for DC loans?
I don't think so as the federal funds rate (banks lending to banks) is over 5%. There's HUGE news that I just shared in this video about CFPB suing an entity: ruclips.net/video/syGvI1C5jr4/видео.html!
I signed up & will be debt free in 2yrs! With my Credit Score rising!!
Amazing! Thanks for letting me know, Mike!
Which program or loan did you sign up for?
Did you get a DC Loan or get in the DC Program?
I'm 23k in credit card debt paying around $820 on everything with 100% on time payments and 710 credit score. But I need an extra 7k or 8k to fix my van which is my main source of income before it dies (transmission). Definitely need a loan instead of a debt consolidation, any recommendations?
I’m curious to know if a debt consolidation loan has a negative impact on your credit. I am clear on the difference between a loan in the program. I am referring to a debt consolidation loan.
Thank you great video
Hey Sonia, thanks for the question! It may have a slight impact one you actually get the loan because of the new hard enquiry, but if you consolidate and payoff debt faster your credit score may go up!
I need help to get rid of credit cards debt. I owe half of one house, paying for the one I live in. My sister passed in 2018. She own the other half of the house that I own half on. Her kids didn't want to open her estate because of her hospital bills. So can I force them to buy me out.
I'm so sorry about this Virginia. Could you give us a call back? Thanks.
@@AscendFinance hello
Hi! Anything we could help with?
Hello, in a dent cosí lotion program, how do you make the payment s?? Thank you!!
Hey Diego, you generally setup a monthly draft account and then they pull the payments from your bank account. That said, did you explore other option before doing debt consolidation? If not, consider giving me a call at 833-272-3631.
Is debt settlement and credit modification the same? I’ve recently been pitched a credit modification but it sound exactly like a settlement.
It seems like the same thing, but would you be able to send me the name of the company either via text or call at 833-272-3631.
I’ve been thinking of getting a consolidation loan because I have 4 cards but all with a pretty low balance. I can pay these off with my current income without too much trouble but I just find the process of paying off 4 companies quite annoying and I’m worried I’ll forget one. Do you think it’s a good idea? Or should I just suck it up and pay them off normally.
Depends on the interest rate for the credit card balance versus the consolidation
Thanks for sharing!
This is a fantastic question. If you can get a lower rate (even when considering origination fee), you may save money with a debt consolidation loan and the annoyances of paying off 4 cards. I think the challenge I've seen with working with so many people is when they get a consolidation loan to consolidate credit cards but don't use the full proceeds to payoff the credit cards, so unfortunately, their entire amount increases. Could you let me know if you have any questions? -Ben
Pay your cards little by little bro
That's one way to do it for sure!
Do you have any input/knowledge regarding the company “Upside” when it comes to debt loans? I was told today to check them out but I remembered the person telling me they sent money to his account the very next day which sounds like a program as you mentioned. Also, for someone with a small amount of debt (under 5k) with a 720+ credit score, is there any company you would recommend looking into for one too consider with the best APR? I completely understand this information you would give someone too consider is only an opinion and is NOT, financial advise.
Thanks for the message. I have not heard of them. The only 3 loan consolidation companies that we vetted heavily are these: tryascend.com/consolidate. I believe these options may provide loans with minimum debt amount of $1000. And yeah, it can be helpful to compare rates across multiple options (if you have the time) as many only do a soft check. Could you let me know if you have any other questions? Thanks! -Ben
I used them and I really like it. Mine was upside with Alliant. I got the money the next business day
You should look into a balance transfer offer with a new credit card. Seek one with longer terms like 15 months or more and low dee
Fee*
Thanks for sharing your experience!
Very helpful information, thank you! I have about $50K in credit card debt. I own small business that generates about $1200/mo. My credit score is about 650. Which debt consolidation company would you recommend I contact?
Hey JT, thanks for the information. Are you current? I'd want to ask more questions - any chance you can book time on my calendar to chat: calendly.com/ben-tejes-ascend/free-chat?back=1&month=2024-01?
Dear Dave Ramsey, can parent plus loans be included in a debt consolidation program? or only be postponed in a bankruptcy? the program I agreed to start 2 days ago, is where I pay 1,400 a month, for 5 years, for 110,000 in debt, mostly uncovered medical, and 54.00 is included in the pmt as insurance for an attorney to keep creditors from contacting me. it is saving me 3500 a month in minimum cc payments that I can't afford anyway. And now my parent plus loans have risen with the interest rate, and this may force me into bankruptcy. I am unsure what to do. any advice? Any input is so appreciated, Thank You
Hey! We are not Dave Ramsey, we're Ascend Finance. In bankruptcy, it discharges the debt in a chapter 7 so you include all unsecured debt and it is wiped away so you do not pay on it. Is this program you signed up with for a loan or debt settlement?
I am from the UK, I am looking at getting a loan to pay off my car credit card. The rate is 29% my car and credit card are both 34% APR. I think this is the best for me as my credit card never changes I will pay off a certain amount then I will have used that and more by the end of the month as I cant control myself. Will this be a good idea for me to go down this route?
Hey Josh! It really depends on the loan. What company were you thinking to apply to? You would want to check the APR and how long you have to pay it off because you want to make sure it is feasible and you can make the monthly payments so it doesn't just turn into another unsecured debt account that you are unable to pay back. Give us a call at 833-272-3631 if you have questions!
I have a family member who opened up every major credit card under my name and racked up 22k worth of debt. I was wondering with a credit score of 560 what is the best company to get a debt consolidation loan?
Oh my goodness, I am so sorry to hear that. Have you filed a fraud claim on these? If not, I think it would be hard to get a consolidation loan at that score, but could you call me at 833-272-3631? Id have some questions on balances and how past due.
Fraud but you want to save them because it’s a close family such as a parent.
@s.b5605 - unfortunately this may be the case
Now what if I have applied for the loans and no one approved me and I have some credit cards that I am current with but they are not going down what can I do
I would love to chat through this with you- give us a call at 833-272-3631 and we can go over some options you have.
Is it possible to be approved for a "debt consolidation program" (not a lone) if you're only documented income is SSI? (other income is under the table). Thanks
Yes you could! I'd encourage you to check out bankruptcy as well to see if that would be a good option for you first especially if your income is SSI. Many times bankruptcy can be a cheaper, easier, faster option to deal with your debt and can be easier to come back from! Depends on your situation though. Shoot me a text if you want to have someone look over your case with you for free! 833 272 3631
@@AscendFinance Ok, thanks for the info! I'll try to give you guys a call when I get a chance.
Sounds great!
I am in the same situation I singed for a debt consolidation company who promise a loan after 6 months, been paying them for 8 months and got refused the loan , now setteld only 2 of 7 accounts in full balance , thay asking me for debt settlement with monthly payments for the 3ad one but that gone hurt my fico credit score evan worse…what should I do now stick with them or do it my myself when I have the money !?
Thanks for sharing. 2 of 7 for no discount and full balance? Why no discount? Would you be able to give me a call at 833-272-3631? Either me or someone on my team would love to hear more context.
I have $30,000 in debt also a score of 650-700, I'm probably paying about $ $700 a month in interest.. these are all about 8 to 10 different credit cards.. should I consolidate?
Thanks for the email. So, from your credit score, I'd estimate that you are current with high interest credit card debt. In this case, if you can get a loan, then check out the interest rates and origination fee. If credit counseling, then you'd look at what the nonprofit credit counseling agency can negotiate the interest rate to. If possible, any interest in chatting? If so, give us a call at 833-272-3631. Thanks!
I don't have credit card debt but school loan's debt which debt consolidation company should I apply at?
Thanks, is it federal or private loan debt? Do you know interest rate? Thanks! -Ben
@@AscendFinance it's a federal student loan. I don't know the interest rate.
Thanks - I do not think federal student loans could be added to a debt consolidation program. Check this out: studentaid.gov/manage-loans/consolidation
what should you do if you have a lot of collections and cant get approved for apts, loans etc. I got a builder cc and was thinking about consolidation but nvm😂
Great question! If it's mainly collections, I'd need to understand how much and who the debt is with, as you may be able to approach it a few ways. Would you mind giving me a call at 833-272-3631? I can go through your situation with you!
Now I need to know what company's that I can go to that are reliable for debt consolidation loan and problem. What options do you recommend
Hey Micah, great question. So, we like these 2 companies quite a lot: tryascend.com/consolidate because of 1) Doesn't affect credit score when checking your rate. 2) No pre-payment penalties. 3) Been in business for quite some time. 4) Has thousands of reviews. That said, what may be helpful to consider is origination fee and interest rate and confirm that it is a better interest rate than credit cards consolidating. Also, is the rate better than all your credit cards or just some of them? Could you let me know if you have any other questions? Thanks for watching - Ben
Just tried calling the number you left at the end of the video! It just went to voicemail at 11am MST. Is that normal? Haha just want to have a little help if possible.
Oh no, that’s not normal! Let me ping my team. Can you call back soon?
If I call a credit card company that I have a credit card from. Would they consolidate all my credit cards and take the debt. Wouldn’t it benefit them by the interest they make and it would benefit me by paying 1 card and maybe they might give me a better interest rate. I’m I totally wrong or correct thank you.
Thanks, if they take the rest of the debt onto a new or existing line, then it may be too risky for them instead of diversification.
Im confused, i have 4 personal loans that I cant afford atm, I dontnwant my credit score to drop to bad. What do you recommend I do? Can you offer a good site or program for me?
Total amount in debt is 4400
Hi! We would love to help, give us a call at 833-272-3631 and we can chat through some options!
Hi please help me, I have 22k debt due to gambling and my credit score became so bad 575 😢 I had really good credit and after gambling out of no where I lost so much msg chasing after losses all my savings and now 22k debt. How do I get debt loan and still keep my credit so I can build my score.
Hi, absolutely, this may be a bit more technical than what I can offer in a comment, so would it be possible to give me a call at 833-272-3631? Thanks - Ben
Pls which is the best consolidation company.. I have 3 credit cards with high interest rate.
Thanks, can you call me tomorrow at 833-272-3631? There are a potential couple options.
Im 40k im debt and feeling super lost. Dunno if i should comsolodate or what.
Hi! I'm so sorry to hear that. It depends on what your goals are. We'd be more than happy to chat through it if you want to text/call us at 833-272-3631.
It looks like There are no options if u have been denied a loan everywhere, except to pay off your credit cards somehow, on your own, and try to not use them to get your credit score back up.
When it comes to loans, it may be difficult to qualify. But you do have other options- bankruptcy, debt settlement, and debt management. As for only loans, companies are looking for specific criteria.
I just signed up with American Debt Relief. They auto draft my account and put that in a Global Financial FDIC backed savings account.
The accounts that i am setting are current as of this comment.
Did i do right?
Question for you - do ou have to go behind on the debt? Is it mainly credit cards? What are the banks that the credit cards are with? Did the company go through whether you will be likely to be sued? If helpful, give me a call at 833-272-3631. Debt relief can be a good option, but I like to understand all the variables. -Ben
@@AscendFinance
Yes i have to go delinquent on them first. Guess now thats why they told me not to make anymore payments and let them ADR deal with them.
Yes two CC's both Capital One. Iv been paying $360 a month on both for several months, just enuff to keep them off my back.
$13,000 in total CC debt.
@@AscendFinance they didn't use the phrase "you could get sued" but i think they said its guna get a lil worse before it gets better hahaha. They seem really transparent, the savings account set up for the auto draft is FDIC backed which for some reason makes me feel a lil better. They actually called me today for a follow up and to see if i had any questions as we move forward. They have an online portal thing they are really advocating for me to set up so we can communicate and track status there.
Thank you so much for explaining! Did they explain the fees? What are they charging? Did they explain HOW they are going to settle the accounts? Feel free to call us at 833-272-3631 if you want to discuss in more detail!
I have 6500 in debt and my score is 500 how can i get out of this
Hey Steve, is the debt behind or is it paid on time? Any payday loans or high interest or mainly credit cards? Would it be helpful to jump on a quick call? If so, please call 833-272-3631 and we can chat about what you're looking at, goals, etc.. Thanks - Ben
Is a debit consolidation loan a actual new loan ?
Yes, it can be a new loan where you are consolidating other debt consolidation loans. Could you let me know if any other questions? -Ben
I need this. How much is it?
Hey! It depends on the firm. If you're looking for one, give us a call at 833-272-3631.
@@AscendFinance will very soon. What are your hours? Thanks
We usually work 7am-6:30pm PST M-Thurs and then 7am-4:30pm Fri.
What do I do with my $55,000 of private student loans at an interest rate of 12%?
Hey Taylor, thanks, I may need a bit more information. Are these loans current or in forbearance? Are you wondering what would happen if you added these to debt settlement?
@@AscendFinance they are on hold right now. I start the full payments in August and don’t know if there is any place I can go to get a lower interest rate, longer term, and smaller monthly payment. My payment is going to be around $1000/month
So sorry for the delay! We may be able to help chat through some options you have, give us a call at 833-272-3631 if you feel like you still need some relief.
Debt consolidation is worse than bankruptcy… don’t do it!
Generally speaking bankruptcy can be a lot easier to come back from than a debt consolidation program! If you're curious about which option would be better for you shoot us a text at 833 272 3631 and we'll talk you through your situation!
Is National debt relief better than freedom debt relief
Hey Kameaike, what are the fees that you are being offered for both services? Could you give us a text or call at 833-272-3631 as I'd like to understand more about your finances to provide information and options? Thanks - Ben
😢 Wauu thanks for all this info. I was about to make this mistake.
Of course, glad it was helpful! Let us know if you have questions at 833-272-3631.
@@AscendFinance sorry just seen this. I’ve paid off almost 2 bills since last year April
That's great! Did you end up using a debt settlement company?
Very irritating popping sounds
In other words don’t trust no body and pay Your cards otherwise they can sue you
True if you go behind on your payments, your creditors have the right to sue you and try to collect that debt through a judgement. If you are enrolled with a debt settlement company when they sue, the debt settlement company's job is still to try to settle the debt before you go to court. There are a few reputable debt settlement companies.
If you want to find a reputable firm that serves your area take this calculator: tryascend.com/embed/qualify-debt-relief-comparison/yt
You can also compare other options to get out of debt with that calculator.
Just get ti the Point...Your Talking is Confusing.
Keep it Simple.
Thanks for the feedback. I always appreciate the constructive feedback!
Once pay off credit cards should I close the credit cards with annual fees and high interest
You may consider doing so, especially if you find that you struggle with not paying off your credit cards in time and have an issue spending more than you have.