Debt Consolidation

Many people consider debt consolidation a simple solution in order to eliminate thier outstanding debt. Unfortunately, they do not realize that opting for debt consolidation loans leave a window open to get even deeper into debt.

Debt consolidation pays off your current creditors by taking out a debt consolidation loan. However, you are not only required to pay back the full loan amount, but also any interest added on. In order to secure a debt consolidation loan, you must place any assets you fully own as a security against the consolidation loan. Common asset used to secure these loans are houses, vehicles, and other personal assets that can be repossessed at any time as repayment of the loan!

Drawbacks to Debt Consolidation

• Your debt isn’t actually reduced. It’s just moved to another creditor. You owe the same amount.
• In most cases, you may end up paying more to repay the loan than if you paid back your original creditors. Even though your monthly payments may go down, they are in reality just spread out over a longer amount of time, with more interest added on.
• Debt consolidations are secured. If you miss your payments, you can legally lose part or all of your collateral to your lender.

Innovation Financial Consulting does not offer or recommend debt consolidation as a solution to your debt problems. Debt consolidation loans cannot be negotiated on since you have secured them with assets worth the amount of your loan. On the other hand, with our debt settlement service we can negotiate with your creditors to lower your total debt amount. Debt settlement does not require your assets to be used as security.

To learn more about our debt settlement program, contact our debt consultants today!

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Our Satisfied Clients

You guys did a great job! My debt was paid off in full in less than a year. My quality of life has changed. And with the credit card you provided we are now rebuilding our credit to purchase a home. — K.D., Innovation Client**

My experience with the Innovation Financial has been wonderful from beginning to end and the results you achieved are remarkable. It is also noteworthy, that the fee I paid for such superior professional service must be one of the truly great bargains of all time. My warmest best wishes to you all. - R.S., Innovation Client**

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