Frequently Asked Questions about Online Debt Consolidation

Here are the answers to the most commonly asked questions about online debt consolidation.

How is online debt consolidation different from traditional consolidation?

Online debt consolidation is a more convenient and efficient form of conventional debt consolidation. Online consolidation offers all of the benefits of traditional consolidation in addition to allowing consumers to complete the process from their home computers. You can consolidate your debt without ever having to leave your home. Most consolidation services require a phone call to review the process with applicants, but the remainder of the process is handled via Internet. It's the easiest and fastest way to consolidate debt.

Do I make monthly payments after I consolidate?

Yes, you will continue making monthly payments after you take advantage of online debt consolidation. Instead of making payments directly to your creditors, however, you will send payments to your consolidation service. The service will then distribute the money to your various creditors. To cover their administrative costs, your company will most likely retain a portion of your monthly payments.

Can I get a quote on online debt consolidation services?

Yes, you can get a free quote on debt consolidation services by completing our online questionnaire. We will ask you for a few pieces of contact information before we refer you to one of our consolidation partners. Once you get your referral, you can discuss the approximate cost of consolidation services with the company. You are under no obligation for signing up for a quote.

Are you a consolidation company?

No, we are not an online debt consolidation company. You cannot consolidate your debt using our site; you can only receive free quotes on consolidation services. We work with some of the largest consolidation companies in the industry so we can offer competitive quotes on effective debt solutions.

What if I receive a quote and decide against online debt consolidation?

That is perfectly fine. If you receive an offer on debt consolidation and decide it's not for you, you can turn down the company's offer and leave it at that. If you need more time to think it over, you can also come back to the site at any time to take one of our partners up on their offer.

What types of debt are eligible for consolidation?

Online debt consolidation deals exclusively with unsecured debt, the most common form of which is credit card debt. Most companies require that you have at least $5,000 of unsecured debt in order to participate in consolidation. Discover the top ten debt culprits on the next page.