CitiCorp Embraces Debt Consolidation
According to CitiCorp they believe that they have come up with the next
round of assistance for those that are struggling to pay their credit
card and installment loans. Citi Advance, the consumer finance arm of
Citi Thailand, has come up with their own debt consolidation service
that they are offering to their customers. Their new plan is to offer
debt consolidation as well as a 1% to 2% interest rate reduction.
The debt consolidation service through the company is complete free of
charge for their clients, and it will allow people to get a traditional
debt consolidation payment plan. They will take their multiple bills and
put them into one bill that will have a set number of payments that they
have to pay back. This will enable them to pay back their debts at a
lower interest rate and over a longer period of time.
They are currently offering repayment periods for as long as 48 months,
and they think that this program will show their clients how to better
manage their money. They will show them where they have made their
errors so far and how they can turn around their debt situation. By not
continuing to penalize those that have gotten in over their heads, they
will end up with happier customers who will also undoubtedly be long
term customers.
The company will be offering their debt consolidation services to their
higher debt customers to give them lower payments at better rates. They
know that it is better to help consumers keep their “good credit
behavior” and keep them paying their bills on time.
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