As the coronavirus vaccines’ distribution spark hope across the nation, firms like Harrison Funding prepare for the next crisis – financial hardship. The past year has left millions of Americans under a siege of debt as they did what they could to survive these economically challenging times. From robbing peter to pay paul to relying on credit cards to cover necessities, people felt they had no choice but to make poor financial decisions.
Harrison Funding for Debt Consolidations & Frequently Asked Questions
While survival was the driving force, recovering from these choices will be an uphill battle. Though the job market is improving, and there are several programs to assist citizens with housing, utilities, and food, these avenues won’t do much to help those struggling with credit card debt. That’s where Harrison Funding comes in.
What Is Harrison Funding?
So, what is Harrison Funding, and how can they help with the economic crisis? Simply put, they are a debt consolidation company. Their goal is to provide financial assistance to individuals in over their heads with credit card debt by combining debts into one affordable loan. As you can see from the reviews on Harrison Funding, they have helped several people overcome financial hardship amid the pandemic.
The next likely question is, “What is debt consolidation?” As the name implies, it is a financial management practice in which you lump your debt into one. It is an effective way to regain control of your finances and improve your credit status.
How to Consolidate Debt
When it comes to consolidating debt, you have a few options. The path you choose will ultimately depend on your credit status, income source, financial habits, and personal preference. Here is a breakdown of the most common debt reduction strategies.
- Balance Transfer Credit Card – These are credit cards offered to qualifying individuals with a low or zero interest rate for 12-24 months. Cardholders can transfer the balances from high-interest credit cards to the new card for one convenient and affordable monthly payment. You’ll need a high credit score, a reliable source of income, and sound financial habits to consider this option.
- Personal Loan – If you have a large amount of credit card debt you’d like to consolidate, you could apply for a personal loan with your bank or lender of choice. If approved, you can allocate the funds to your credit cards to pay them off and then repay the loan. Again, you’ll need excellent credit and a stable income source. You may also need collateral to obtain a personal loan.
- Home Equity – Homeowners have the option to borrow on the equity in their property. This process will require you to apply through your mortgage company. If approved, use the loan to pay off your credit cards. You’ll need a favorable financial profile, and your house becomes collateral. Failure to repay this loan could result in foreclosure.
- Debt Consolidation Loan – Another way to consolidate credit card debt is a debt consolidation loan. Offered by companies like Harrison Funding, it is a low-interest loan used to pay off your credit cards. While you’ll need a stable income source, these types of loans aren’t as concerned with your credit score or collateral. That’s why it’s one of the best consolidation loans for bad credit.
How Does Debt Consolidation Work?
While each of the debt consolidation strategies listed above differs, the concept of consolidating debt is similar. You start by applying for the balance transfer card, personal loan, home equity line of credit, or debt consolidation loan with the financial agency of your choosing. If approved, you’ll either receive a check, cash deposit, or loan agreement to review and sign.
With a balance transfer card, you’d wait for the card to arrive in the mail and begin making payments. A personal loan or home equity line of credit is provided to you to distribute to the credit card accounts of your choosing. If you get approval from debt consolidation companies like Harrison Funding, your credit card accounts would be paid in full on your behalf.
Since debt consolidation saves you money on interests and combines payments into one, it allows you to pay your debts off faster. As long as you remember to make your payments in a timely fashion, you’ll be on the path to becoming debt-free.
Is Debt Consolidation a Good Idea?
If you’re juggling multiple high-interest high-balance credit cards, debt consolidation is a good idea. The debt you’re accumulating in interest, late fees, and other penalties reduce the funds you have available to support your loved ones during these uncertain times. Mismanaged credit card debt can also ruin your credit, making it difficult for you to get things you may need like a job, house, or car. Ultimately, deciding whether it is a good idea for you will require you to review the pros and cons and compare them to your current circumstances.
Can Harrison Funding Help With Debt Consolidation?
Harrison Funding debt consolidation loans are ideal for individuals that are interested in turning their finances around. As the pandemic has left many in a tight financial position, the company looks to help customers get the relief they need. The satisfied customers represented in the Harrison Funding reviews show just how vital their services were when they had nowhere else to turn. Essentially, the best way to find out how this debt consolidation company can help you with your credit card debt is to apply.
How Can I Apply For Harrison Funding?
Ready to have the weight of credit card debt lifted from your shoulders? Harrison Funding is standing by to assist. You can apply for Harrison Funding any time by visiting their website and completing the short form. Once finished, you’ll receive a call from a representative to review your situation and develop the best options.
This year did a number on everyone. While some were able to capitalize and flourish financially, others found themselves scraping to get by. As the nation prepares to return to some sense of normalcy, companies like Harrison Funding are standing by to assist citizens in regaining control of their finances. If you or someone you know is struggling financially, consider debt consolidation for relief.