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Debt Consolidation


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Featured are answers to some common questions we receive regarding our debt consolidation program and how it works. If you have further questions that need to be answer please contact us. We suggest you also examine what the pros and cons of debt consolidation programs are.

How will my creditors respond to me enrolling in your debt consolidation program?
Every creditor will respond differently. However, most of your creditors will eliminate all of your late fees, over limit fees and will bring your accounts up-to-date. Also, your creditors will re-age your account once enrolled. This means that your accounts will not show that you are behind on any of your payments.

Also, you can expect any harassing calls from creditors to stop once you enroll in the debt consolidation program. GET A FREE QUOTE NOW!

What impact can I expect debt consolidation to have on my credit report?
We do not report your participation to any of the credit bureaus. However, your account will be flagged by most of your creditors as being enrolled in a debt consolidation program. This does not impact your credit score negatively. It merely exhibits that you are taking a responsible step towards regaining control of your finances.

Once you start to settle your debt, you will see your credit score improve

Why do creditors lower interest rates for you, but not the consumer?
When you enroll in a debt consolidation program, it is recognized by the creditors that you are taking an aggressive step towards regaining financial control. It also pretty much guarantees that you are going to be settling your debt.

It should also be noted that enrolling in a debt consolidation program is usually a route consumers instead of filing for bankruptcy. If you file for bankruptcy, your creditor will not get a penny that you owe. Also, the creditor would rather you commit to a debt consolidation company than have to settle your debt with a collection company. When creditors work with collection companies, they are agreeing to accept the debt that you owe them pennies on the dollar.

This all being said, creditors would rather commit a lower interest rate when you are working with a debt consolidation company so that you can resolve your debt quickly, and in full. ENROLL NOW IN OUR DEBT CONSOLIDATION PROGRAM!

Is filing for bankruptcy really that bad?
When you file for bankruptcy, you hurt your credit a great deal. A bankruptcy will stay on your credit report for seven year, ruining your credit rating, making it almost impossible for you to get approved for any type of personal loan. However bankruptcy may be the only option for some people. You can learn more about filing for bankruptcy.

Star Loan Services can arrange financing for you bankruptcy auto loans and certain types of mortgage home loans.

What kind of debts are eligible for debt consolidation?
We are able to consolidate all of your unsecured debts. Unsecured debts is when no collateral is offered as security for your loan or credit. The most common types of unsecured debts are credit cards, medical bills, personal loans and college student loans. You can learn more about the difference between unsecured debts and secured debts.

When is my first payment due? How often are payments to be made? How much should I expect to pay?
Your first payment is going to be due thirty from when you join. You can make a payment any day of the month, as long as you make a minimum of one payment/month. Your payment amount is going to depend on how much you owe your creditors.

Will I still have access to use my credit cards?
No. Your creditors will freeze your credit card accounts until all of your debt is paid off. You will experience positive effects when you stop using credit cards.

Am I obligated to enlist all of my creditors with your debt consolidation program?
No. You can choose which creditors you want to consolidate.

Do I have to be enrolled in the program until I am 100% out of debt?
No. You can choose to end your membership any time you want.

Regain control of your finances today!

We offer feature a great article on dealing with a financial emergency that we suggest reading.


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