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Reduce Debt & Get Debt Help With Debt Consolidation Loans

In the middle of the financial crisis with sub-prime lending retreating from the market, the renowned financial site debt officer has announced an agreement with a notorious debt consolidation company to offer a new service free of charge.

The site has been part of the online financial market for several years now and has been offering access to a wide variety of lenders, financial institutions and other financial services for Americans as well as professional advice on credit repair, debt help, taxes and many other additional services.

The site, which is very prominent in the online field has now closed a deal with a debt consolidation company to offer a free debt assessment and analysis that will provide the users with a thorough review of their debt situation plus different alternatives to solve debt problems and eliminate debt.

The Debt Officer will help reduce debt. Our extensive informative coverage on debt help will help you reduce debt. Using debt consolidation loans are not the only way to reduce debt

Due to a cumulous of variables that include the increased debt exposure and the current country’s sub-prime financing crisis, more and more users are requesting advice on reduce debt and debt management to avoid credit damage and bankruptcy. Given this situation, we decided that we had to provide a debt consultation service for our users to keep the comprehensive nature that characterizes our services.

Within the site, a link to an online form with a clear and simple explanation on how to fill it provides the user with the ability to obtain a free evaluation of the debt situation. We wanted to keep it simple and let the experts on the other end take care of the complex and tedious formulas and calculations. So, the user will fill a form with numbers that he already knows by heart and the debt consultants will handle the rest.

More Here: Debt Consolidation

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Pre Approval vs Pre Qualification
What is the difference between a Pre Approval and a Pre Qualification?

Pre Approval
A written commitment issued by a lender after a comprehensive analysis of the creditworthiness of the applicant, including verification of income, resources, and other such matters as is typically done as part of a normal credit evaluation program. Conditioned upon the following:
1. Identification of a suitable property
2. No material change in the applicant's financial condition or creditworthiness prior to closing
3. Limitations not related to the financial condition of creditworthiness of the applicant that a lender ordinarily attaches to a traditional mortgage application, such as completion of a home inspection, acceptable title insurance binder, certification of clear termite inspections, etc. The issuance of a preapproval letter implies that a credit decision has been rendered and a mortgage commitment letter is available which also means that the loan has been submitted to underwriting.

Pre Qualification
The estimation of your borrowing power from a lender and can be accomplished with a simple phone call. The prequalification is based on:
1. Income and debt levels that you provide to a lender.
2. Possibly (but not always) a credit check. A prequalification is a determination on whether the prospective loan applicant would likely qualify for credit under a lender's programs and standards, or a determination on the amount of credit the prospective applicant would likely qualify.

Which is better?
The pre approval is a more complete and formalized process where the borrower actually meets with the lender and supplies him with the last 2 years income tax returns, bank statements, W2’s, etc. The lender asks about employment and runs a credit report. A pre approval helps take the guesswork out of buying. There is a firm figure that you, the purchaser and seller can work with in confidence.

Securing the commitment from the mortgage company is much closer to reality with a pre qualification than with a preapproval - which is of tremendous benefit during deal negotiations. By speaking with a lender, affordability parameters and appropriate loan programs are identified. Details such as the amount of cash required to close are also determined which is essential information for the purchaser of the property.