It can be a bit overwhelming to make payments to a number of creditors each month, especially if you have accumulated a great deal of debt. For many, it is a good idea to try to consolidate debts through a government debt consolidation loan helps alleviate much of the confusion and work associated with your decision to consolidate debts. Consolidation loans are available through a number of different government programs dealing with mortgages, student loans, credit card debt, auto loans, etc. A government debt consolidation loan allows for one monthly payment, and the loan instantly repays your existing debts, actually if you consolidate debts, it will leave you with a single payment. The government debt consolidation loan typically has a very low interest rate and generous repayment term to help you in consolidate debts effectively.
The government offers a variety of consolidation loan programs that are aimed at helping consolidate debts and reduce personal and business debt as quickly as possible. You can utilize four plans under the government debt consolidation loan program, namely standard plan, extended payment plan, graduated payment plan, and income contingent repayment plan. No matter which plan you need, each of them contains features that greatly help reduce monthly payments and balances and help you consolidate debts.