Frequently Asked Questions about Escaping from Debt Prison

Here are the answers to the most commonly asked questions about how to escape from debt prison.

What's the best way to escape from debt prison?

One very effective and inexpensive way to get out of debt prison is debt consolidation. Debt consolidation combines your high-interest debts into one manageable monthly payment with lower interest rates. When you enroll in consolidation, you will have the expertise and experience of a team of debt professionals on your side. Trying to get out of debt on your own can be difficult, but debt consolidation can give you the help you need to meet your goal. Find out more about how to escape from debt in greater detail throughout this site.

What's the first step?

The first step is to fill out our free, online form. The form will ask you for your name and other contact information. We will pass this information on to a consolidation service that will then offer you a free debt consultation to advise you on how to escape from debt prison. They will evaluate your financial situation and discuss how they can help you overcome your debt. This consultation comes with no obligation and is completely free of charge.

How much does this service cost?

The consultation is entirely free, but if you choose to enroll you will usually have to pay a commission fee and a monthly administrative fee. Commission is typically equivalent to your first month's payment. For instance, if your new payment were $250, you would pay a total of $500 your first month to cover commission. Most services also charge an administrative fee of $10-$40.

Can't I escape from debt prison on my own for free?

Trying to overcome debt on your own when you have sky-high interest rates is anything but free. Even if you do have the cash in your budget to make larger payments, you will spend as much as thousands of dollars on interest expense. This is a waste of money when you could pay a small fee to enroll in consolidation and enjoy exclusive low interest rates. The charges associated with consolidation are usually well worth the substantially lower interest rates to which you will have access.

Will this harm my credit?

No, your credit will not suffer if you choose to escape from debt prison through consolidation. In fact, most consolidation customers experience an increase in their credit score after a few months of participation. This is because consolidation helps reduce your overall amount of debt, which has a positive impact on your credit score.

How long will it take to escape from debt prison?

Debt consolidation participants get out of debt in an average of four to eight years. How long it takes to become debt free will depend on the amount of debt you have and your interest rates.