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Best Credit Debt Consolidation Companies

What is a debt consolidation program? It’s basically using a debt relief strategy that includes streamlining your creditor payments into one simple monthly payment. There are several types of debt consolidation programs. Choosing the right type of debt consolidation depends on your own financial situation and comfort level with each type of program given the benefits but also the risks associated with these solutions. Regardless of the solution you choose, successfully ending up with less debt than when you started takes good financial planning. The first step should be to get yourself educated on the various types of debt consolidation programs and to seek out advice from reliable debt consolidation companies.

Debt consolidation programs may involve one or more of the following:

– Taking out a home equity line of credit to pay off high interest debt
– Using the services of a debt management company to consolidate your debts at a lower interest rate
– Using a debt settlement company who you pay monthly instead of your creditors so they can negotiate your balance lower

Here at Debt Relief Companies, you will find free debt consolidation information and advice to help you find honest and reputable debt consolidation services by professional debt consolidators that have undergone my screening and review process. The bottom line is that without a good debt relief service, many people who undergo debt consolidation programs do not end up with less debt. In fact, according to most statistical studies conducted on the subject, over two thirds of Americans who enter into debt consolidation programs end up with a bit more or about the same amount of debt they had when they began the process. Why? Either because they lacked the discipline to abide by the plan set up for them or they used shady debt consolidation services that did more harm than good. For those who request my help, I suggest reputable companies that have been reviewed and approved by me to help you.

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I will send you my FREE Report about one of the debt companies I’ve researched. To prevent information overload, only 1 of the professional companies I know will provide you with your free consultation so you can decide if it’s a good one for you.

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Other Articles Related to Debt Consolidation Companies

How Can I Do Credit Card Debt Consolidation?

: September 21, 2007 8:54 am : Debt Consolidation Program

Credit card debt consolidation really only means taking your bills and combining them into one monthly payment and there are several ways to do this. Typically the phrase applies to your unsecured credit card debt and sometimes even your mortgage, not utility bills and car payments. It is a term that gets over used in marketing pitches from all types of financial companies often making it seem more complicated than it is.

Generally, what’s important is that credit card debt consolidation:

1. Can make your life simpler by allowing you to combine several debts into one payment

2. It can be done several different ways depending on your situation

3. It can be done by several different types of companies

4. Its goal is to try and reduce your overall monthly payment

The first thing to determine is the type of debt solution you need and what you qualify for:

1. Do you own a home with equity that can be used to consolidate your bills by taking out another mortgage? – Yes? Then you may be able to refinance your mortgage and use that money to pay off your credit card bills so you are left with one home payment.

2. Are you in need of a little help with your bills but not in a dire financial situation? – Take a look at a debt management consolidation plan

3. Are you swamped in bills, falling behind fast and want to avoid bankruptcy? – Consider using a debt settlement consolidation program

Only you can decide which solution is best for you to achieve credit card debt consolidation and there are drawbacks and benefits to each method. What’s most important is to do some research and determine the best solution for you and then find an honest debt help company to assist you. I hope this website will help you get the answers you need.

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What Is Debt Consolidation and Credit Counseling?

: January 11, 2007 9:23 am : Debt Consolidation Program

Debt Consolidation is a term used in TV commercials from several different industries which has caused lots of consumer confusion. Everywhere you turn there seems to be a company offering you debt consolidation and credit counseling programs. Does it mean mortgage refinancing? Is it a way to reduce your credit card fees? Is it the same as credit counseling?

Yes. Yes. And Yes depending on who you are listening to and what your particular situation is.

The point is that debt consolidation allows you to combine several payments into one with lower overall fees and a lower interest rate. Consolidating your debts into one lower monthly payment can be done in several ways.

The best way to consolidate debts really depends on your personal situation. The initial question is do you own a home that is worth more than you owe on your mortgage? If yes, then you may be able to use that equity to consolidate your debts which is often the preferred way. If not, then a debt management program from a credit counselor may be the best way to consolidate your debts unless your financial situation is severe enough to warrant consolidation through debt settlement which you may read about here.

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