Step 1: Debt Consolidation Consultation
As a potential Debt Free USA client, we want to ensure that we understand your goals and budget before making a recommendation. During our initial phone consultation we will discuss your debts from credit cards and personal loans to student loans and home equity loans. We want to make sure we capture your full debt load and total monthly burden.
At this time we will also discuss the Debt Free USA Debt Consolidation program to help you understand how we may be able to help. We will review the Debt Consolidation process and make an initial recommendation based on our conversations.
Step 2: Application
If we jointly agree to move forward with a Debt Consolidation loan through Debt Free USA, we must submit an application in order to review your credit. This process will help us understand if you will be approved for a debt consolidation loan based on the details in your credit report.
Our team of Debt Resolution experts are trained to uncover all opportunities within your credit report. This means that even clients with low credit scores or challenging credit history still have the opportunity to become approved.
(As advisors, our role is to help you resolve your debt. Even if you don’t become approved for a Debt Consolidation loan, we have other debt relief options that may be able to assist you reach the same goal.)
Step 3: Approval
Once your Debt Consolidation loan is approved we will help you get your credit card balances transferred within ten business days. We will also make sure you receive all your loan documents and all paperwork is signed in good order.
If your loan is denied for any reason we will go over other options that you may still have to consolidate your debt. Our Debt Resolution specialists will explain your next steps.
Step 4: Program Initiation
Once your Debt Consolidation loan is underway, all you need to do is make your agreed upon monthly payment on the assigned due date each month for the term of the loan.
Our Debt Resolution team will continue to be available to you in case a situation changes or you need to adjust one of the terms of your loan.
Step 5: Program Graduation
Once the term of the loan has expired and all payments have been made you will have graduated the Debt Consolidation program successfully. Some of our client graduations happen when the loan is paid off early, which reduces the total interest paid. (There is no early loan payoff penalty.)