Do you have debt collectors on your back? Most people try to hide from debt collectors. This, however, is not a good solution. A better idea is to seek the aid of debt counseling services, and bring some sanity to your financial affairs.
These services negotiate with your get discounts, creditors, obtain late-fee waivers etc. They also consolidate all your debt into a single lump-sum, so that you make one payment a month instead of several. Also, this payment is made to the debt reduction company, which then pays the money to the creditors.
The debt counseling company also gets the debt collectors off your back. You no longer have to get threatening calls or nasty mail. The only disadvantage is that, the moment you acquire the services of such a company, you loose several credit points. The creditors realize that it is not completely safe to lend money to you.
This, however, is preferable to having a record of continual late or missed payments. In fact with time, most creditors are willing to overlook the renegotiated interest rates in your records since it shows that you are honest, and trying to clear all your debts. This is what the creditors want. They...
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