Debt Consolidation Services

The idea of being debt-free feels more like a dream than a possible reality for you. However, two words can quickly change this: debt consolidation. Of course, it’s easy to confuse debt consolidation with debt refinancing, which is not the same thing, according to Nationalpartners.org, a leading provider of debt consolidation services. Here is a rundown on the difference between debt refinancing and debt consolidation.

Both debt refinancing and debt consolidation are methods designed to make dealing with your debt easier. However, debt consolidation services involve turning multiple debts into just one debt. You can achieve this using various financial instruments/approaches, according to Nationalpartners.org.

Meanwhile, debt refinancing involves replacing existing debts with new debts that carry lower interest rates. For instance, let’s say that you are an entrepreneur with a loan. You then decide to secure another loan with a lower interest rate to pay off your first loan. In this situation, you have taken advantage of debt refinancing.

As a general rule of thumb, debt refinancing services and debt consolidation services are not mutually exclusive. That’s because you could easily obtain a consolidation loan and then refinance it. Likewise, it is possible to consolidate debts that have been refinanced. You could refinance every single one of your debts and consolidate them.

Nonetheless, you must understand that debt refinancing and debt consolidation are two completely different concepts. Also, both approaches to eliminating debt offer their unique benefits depending on your particular situation.

 

For instance, debt consolidation may be best for you if you have several small debts—for example, debt on credit cards—with various lenders. That’s because debt consolidation services can help you to turn your debts into one affordable and manageable debt. Meanwhile, debt refinancing is most appropriate for making a single auto loan or home loan more manageable long term.

 

AFCC Member :: National Credit Partners

American Fair Credit Council Alliance Member

AFCC has determined that National Credit Partners meets AFCC Alliance Membership Standards.

BBB A+ Rating :: National Credit Partners
We are proud to be an A+ BBB Rated Company

An A+ rating represents BBB's high degree of confidence that the business is operating in a trustworthy manner and will make a good faith effort to resolve any customer concerns filed with the BBB.

Santa Ana Office :: National Credit Partners

OFFICE HOURS:

Monday-Friday: 8:00am – 5:00pm PST
Saturday-Sunday: Closed

BBB A+ Rating :: National Credit Partners

Schedule a Free Consultation NOW

Chat with an expert to learn more about our strategies to help you find debt relief.

Your information is confidential and will not be shared with outside parties. See our Privacy Policy. By submitting this form, you agree to opt-in to receive emails, text messages, auto-dialed and/or pre-recorded calls from nationalcreditpartners.org, and data rates may apply. You may opt-out of communications at any time.

© 2021 National Credit Partners. All rights reserved. We do not provide consumer credit card debt settlement or provide tax, accounting, or legal advice. We are not a law firm. We work with a Network of Attorneys. By providing your contact information, you agree to receive return telephone calls, emails, or other communications from National Credit Partners and/or its affiliates and expressly waive any “No Call” preference or registration. Photographs used are not actual clients. National Credit Partners is not affiliated with USA Today, Yahoo Finance, KNX10.70 News Radio, and Benzinga, and logos used are registered trademarks of their respective owners. Programs not available in all states. Read and understand all program materials before your enrollment. © 2021 National Credit Partners, ALL RIGHTS RESERVED