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Roseland Associates Debt Consolidation Review

Melissa Lyken | December 01, 2022

Find out if debt consolidation can help you.

Summary: Afraid that you'll never be able to pay off your debts? Wondering if debt consolidation is for you? Find out if you can save money and time by considating your debts.

Most people are in debt - and not just one type of debt, but often several parallel obligations requiring payments for credit cards, mortgages, student loans, and possibly even a car loan in any given month. Owing this much money can be stressful and frustrating.

On top of making monthly deposits, you also need to keep track of each separate creditor. So it is easy to understand why debt consolidation can be an attractive scenario. You can combine all your debts into one massive lump sum and even obtain a lower interest rate on the total debt.

Considering all of the potential benefits of debt consolidation, you may be shopping around for a debt consolidation company, and you may be considering Roseland Associates. If so, continue reading for our rating on this company.

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Debt Consolidation Helps Minimize Your Debt

Debt consolidation allows you to combine all your debts, including medical bills, credit cards, and personal loans. But does it help? Consolidation doesn't equal debt settlement, and doing this won't get rid of your debt immediately.

However, debt consolidation is a debt management technique that can make your life easier if you pair it with other strategies. It isn't a way to stop you from having to pay your debt, as there is no way to get out of paying your debts altogether. Also, while you may obtain a lower interest rate and a monthly payment plan, it isn't guaranteed.

You want to make sure you take a close look at your current interest rates to determine if consolidating is the best option for you. The specifics of each plan vary for each customer, so make sure it's right for you.

Get to Know Roseland Associates

Roseland Associates is a Maryland-based US debt consolidation company that offers customers competitive interest rates. They are a relatively new company and opened their business in April 2019. They also don't just help their customers manage debt. Roseland Associates also teaches customers how to develop better money habits. Adhering to their tips can help you improve your financial status over a few years.

Roseland Associates will talk to your creditors and take over your debt. Now you are paying Roseland the entire debt sum at a better interest rate, making your monthly payment lower and manageable. Ultimately, debt consolidation may be an excellent option for you to obtain a better long-term financial standing. As you are considering Roseland associates, you want to take stock of:

  • Your current debt
  • Your current interest rates
  • Roseland's proposed interest rates
  • Current monthly payment vs. your new monthly payment
  • Your income and ability to continually pay the new loan

The advantage of partnering with an agency like Roseland Associates is not arbitrary debt reduction; instead, it lies in providing a manageable monthly payment sum, which is often a more workable solution.

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Explore the Pros of Debt Consolidation with Roseland Associates

Suitable for large debts

If you have a large debt or owe more than two companies, Roseland Associates may be a good option for you. They specialize in large loans and have competitive rates that allow you to pay off your loan over several years. Additionally, they have policies that can help you pause payments for one to three months in situations such as losing your job. If the sum of the total debt you want to consolidate is relatively high, don't be afraid to consider consolidation if it will mean fast pay-off and management.

Clients with low credit scores are welcome

The biggest issue you will face when you're considering debt consolidation companies is their credit score requirements. Most of these firms require a high credit score to get a reasonable interest rate, which is extremely difficult when you need financial help.

If you've been in debt for several years, don't have a consistent job, or are working at a low wage, you've probably missed a payment or two over the years. Roseland Associates doesn't assess you strictly on your credit report and will take you on even if you have a poor credit score.

Flexible repayment options

Roseland Associates has flexible payment options that are available to a wide variety of debtors. They have no restriction for minimum debt amount, which means anyone can acquire their services.

Consider the Cons of Debt Consolidation with Roseland Associates

Higher interest rates for bad credit

If you have a low credit score, Roseland Associates will likely take you on as a client. However, you will have to pay a higher interest rate than a customer with a good credit score. While this is a standard policy within the industry, it is still a factor to consider if you're on the fence about partnering with a firm.

You will want to compare the quoted rates before making your final decision on a particular company.

Origination fees are added to the interest

Roseland Associates charges customers an origination fee when they sign up. This initial fee will be added to your loan, so make sure you take this into account.

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Final Verdict on Roseland Associates Debt Consolidation

Roseland Associates has an online customer rating of 3 out of 5 and sits under the MHA Nation of North Dakota's umbrella. They offer a host of services in the field of debt management. Be sure to remember the following:

  • Debt consolidation may not reduce or eliminate your debt. Roseland Associates will help you pay off your debt in reduced installments.
  • If you have two or more types of debt, debt consolidation can help lighten the load by combining them. Roseland Associates is recommended especially for people with several creditors.
  • The interest rate will vary depending on your credit history and the details of your debt. While Roseland Associates accept clients with poor credit scores, they will charge you a higher interest rate if you fall within this category.

If you are struggling with debt, you can contact them here and get a custom-built plan to suit your financial needs. An expert will help you formulate the best possible plan and engage with your current creditors on your behalf.

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