Harrison Funding Reviews & Frequently Asked Questions

Credit. It seems like a nice thing – until it isn’t. You start off using your credit cards to build credit and buy things you need or want, but then something happens. You start spending frivolously, make a big-ticket purchase, or run into trouble with your finances, and things go downhill. Payments are missed, late fees and penalties are applied, and the account is out of control before long. Short of filing bankruptcy, companies like Harrison Funding are there to provide financial relief. 

Debt Consolidation with Harrison Funding

Harrison Funding

What is Harrison Funding? It’s a debt consolidation firm that assists interested parties in “refinancing” their credit card accounts. The team of financial experts has helped several people get their debt under control. Their services allow clients to save money, improve their credit, and develop healthy financial habits that get debts paid off faster. 

Debt Consolidation: What Is It? 

The debt consolidation meaning is relatively simple. It is the concept of lumping several high-interest, high-balance credit cards into one monthly payment with lower interest rates. Depending on your financial status, credit rating, income, and personal preference, there are several ways to consolidate or reduce your credit card debt. 

Balance transfer cards are credit cards offered to qualified individuals with a 0% APR for a duration of 12 to 18 months. You can transfer balances from high-interest credit cards to the new one. This concept allows you to save money on interest and pay more towards your principal balance. If you don’t have good credit or can’t repay the balances within the promotional period, balance transfer cards may not be ideal. 

Home equity loans or borrowing from your retirement accounts is another way to consolidate debt. You’d receive a large sum of money to pay off your credit cards. Though this option does seem like the fastest way to get your balances back to zero, it is not the best method for everyone. Should you stop making payments on your home equity or retirement loan, you could lose your house or incur significant tax penalties and fees. 

Another option is to apply for a debt consolidation loan. These are low-interest loans that cover the balance of your high-interest credit card accounts, giving you a more structured way of repaying your financial obligations. If you read reviews on Harrison Funding, you’ll see that this option works for individuals who are having a hard time managing their debt alone. 

Is Debt Consolidation Even Important? 

Debt consolidation is essential to an individual’s financial and emotional well-being. Allowing credit card balances to accumulate for years has several consequences. Consumers who don’t get their debts under control have a poor credit history, cannot apply for credit or loans, and run the risk of being sued, having their wages garnished, and personal effects repossessed. Essentially, restructuring your debt allows you to avoid these adverse outcomes and repay financial obligations when other tips to pay off debt aren’t as effective. 

What Are The Benefits of Debt Consolidation? 

Why is debt consolidation something you should consider? The benefits are straightforward:

  • Save money on interest rates.
  • Manage debt payments easier (with one monthly payment)
  • Pay off your debt faster by eliminating high-interest and paying more towards the principal balance. 
  • Relieve the emotional overwhelm of juggling too much debt
Rebuilding your credit through Harrison Funding debt consolidation

Does Debt Consolidation Affect Your Credit? 

The road to rebuilding your credit can take time. Depending on the type of debt consolidation strategy you choose and your ability to keep up with payments, it can have a negative or positive impact on your credit rating. 

Applying for a balance transfer card, line of credit, personal, retirement, or home loan will require lenders to place a hard inquiry on your credit report to determine your eligibility. This can cause your credit score to drop temporarily. 

Balance transfer cards are ideal for those with good credit, but you must be mindful of your debt to income ratio. By transferring all of your balances to one card, the amount available for use is reduced significantly. Consequently, your credit score will drop until you get the utilization rate under 30 percent. 

Settling your accounts either through negotiations or by working with a debt management agency can also have an impact on your credit score. Since you’re not paying the balance in full, it will reflect negatively on credit reports. 

On a positive note, if you stay committed to your payment arrangements and repay the loan or credit card in full, each of these methods can positively impact your credit. 

Why Consider Harrison Funding? 

With so many debt consolidation firms out there, you may be wondering why Harrison Funding is the best choice. As you can see from reading Harrison Funding reviews, the agency is willing to go the extra mile when other financial institutions aren’t. Their agents are skilled in credit card debt consolidation and will use this to get you the most affordable option available to get your life back on track. 

Applying For Debt Consolidation With Harrison Funding

Are you interested in learning how to apply for Harrison Funding today? Simply visit the company website and complete a short form. You’ll need to have basic information like your credit card balances, payment amounts, and income information to complete the application. After carefully reviewing your information, a representative will reach out to get more specific. Based on what the agent learns, they will provide you with options to consolidate your credit card debt. You select the option that is most affordable for your financial circumstances. 

Many people have found themselves in a jam that led to the mismanagement of their credit card payments. While strategies like paying more than the minimum, cutting back on spending, earning more money, and negotiating with creditors can work to resolve the matter, sometimes it isn’t enough. Applying for Harrison Funding may be the best solution to dig you out of trouble in those instances. As long as you’re a responsible borrower and make timely payments, you’ll eliminate credit card debt, improve your credit, and put yourself on the path to financial freedom.

Harrison Funding Reviews & Frequently Asked Questions

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