Debt Relief
- Why choose Quote Loans and Insurances?
The dedicated professionals at Quote Loans and Insurances are committed to saving you money, getting you out of debt and improving your quality of life. You can expect a significant reduction of 40%-60% off the total balances of the unsecured debt that you enroll into our program. Your best interests are our top priority! The bottom line is that you will be debt free in 36 months or less and on your way to the life you want! Success means eliminating your debt.
- Do your credit management programs charge a fee?
We do include a small monthly fee with our services. This low monthly fee will not change regardless of the amount of creditors you have. Even with this fee included, your monthly bill may be considerably lower that what you currently pay. You end up saving in reduced interest charges and other reduces fees. Plus, you end up paying your debt off years quicker, possibly saving you thousands of dollars.
- What is debt consolidation?
Debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan. Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an asset that serves as collateral, most commonly a house. In this case, a mortgage is secured against the house. The collateralization of the loan allows a lower interest rate than without it, because by collateralizing, the asset owner agrees to allow the forced sale (foreclosure) of the asset to pay back the loan.
Debt settlement is an aggressive approach to debt reduction, which is appropriate for debtors with a serious amount of debt or who are considering bankruptcy. A debt settlement agency negotiates with the creditors to settle the debt for a lower amount than owed, as the debtor saves their money for a lump-sum settlement payment. After the debt is settled, the creditor will send a letter stating the debt obligation was fulfilled, and will report to the credit bureaus that the debt has been, “Settled for less than full amount”, “Paid” or “Settled”.
- Why should I consolidate my student loans with Quote Loans and Insurances?
Because you want to lock in your rate, lower your payment, and take advantage of Student Loan Consolidation discounts. Quote Loans and Insurances offers a complete and instant online student loan experience. You simply enter your information into our easy-to-use online form, electronically sign your promissory note and we immediately begin processing your loan. In addition to our incredibly fast and simple process, we also offer some of the most competitive student loan interest rates and borrower benefits available. If you want to secure a low rate for the life of your student loan and reduce your monthly payments to the lowest possible payment then Quote Loans and Insurances is your only choice.
- After filling up the form how long will it take you to contact me?
Once you have completed the sign up process, we will contact you within next working day. However, if you are not available over phone, our endeavor will continue until we can get you in the discussion. If the phone is not working at all, we will consider sending mails as well.
- How will this affect my credit?
When you enroll into our program, we will engage your creditors immediately and inform them that you will no longer be making payments on the accounts and that they will need to redirect all correspondence to us. Your enrolled accounts will be reported as past due until they are settled. Once settled, they will reflect that the account was handled in a satisfactory manner and that there is no outstanding balance owed. Your debt to income ratio makes up a large portion of your credit report and given that each account will show a zero balance once settled, you can expect that ratio to improve gradually. If you have debt, your debt to income ratio is already adversely affected. The fact of the matter is that any type of debt management program will affect your credit in some way. Debt settlement gives you the benefit of only having it affected while you're in the program. Given that we do not pay your creditors for you, our name will not appear on your report. This will look like you took care of your debt on your own.
You can only consolidate unsecured debt, meaning debt that is not backed or underwritten by an asset. Generally, this means credit card debt for most people. Other types of unsecured debt that can generally be consolidated are department store credit, medical bills, bank and finance companies, unsecured personal loans, and gas and oil credit cards. Bills that cannot be consolidated include mortgages, auto loans, and co-signed loans.
Unsecured debt is any type of account that you did not put up any collateral behind, meaning no tangible assets or personal property is attached. These types of debts include credit cards, department store cards, medical bills, unsecured personal loans, repossessed vehicles, etc. Some examples of secured debts are mortgages and vehicle loans. In a secured debt, the lender has the ability to repossess the tangible property against the debt.
- Why shouldn’t I choose bankruptcy?
Bankruptcy is usually a last resort because it has long term negative implications. First, bankruptcy remains on your credit report for 10 years. Bankruptcy also means that you will not repay your creditors. This looks especially bad on your credit report. Instead, your assets are sold off to repay your debts. You can lose many of your possessions and your credit can be so damaged that you may have a very difficult time regaining them.
- Can you stop creditors’ calls?
Once we inform your creditors that you are in our program, collection agencies should stop calling you. Some agencies require several months’ worth of payment to recognize your commitment. Since you will be up to date on your bills and making steps to pay off your debt, collection agencies will have no need to contact you.
Can I pay more if I have more money?
If you would like to change the amount of money you are paying each month, simply contact us and we will change your payment structure. You can always pay out more money towards paying off your debts!
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