Debt consolidation what is it? It is a process by which credit counseling copanies can negotiate with your creditors to obtain the lowest monthly obligation they can needed to satisfy all of your current credit card accounts.
So what you would do is pay a one low monthly to the debt consolidation company, in turn they then portion out that payment to your creditors for you. This monthly payment will in most cases be lower than the sum of your individual account obligations that you have now.
Our credit counseling web site is designed to help you in take charge of your credit card debt.
Most Creditors will recognize that people who enter a debt consolidation program are trying to repay the debt they have in good faith. Creditors will be more willing to extend favorable terms to such clients in the hope that they can avoid the significant expense of turning the account over to their collections department or avoid an extended drawn out process if the account holder decides to goes through the expense of declaring bankruptcy.
Most debt consolidation companies only deal with unsecured debt which is when a creditor holds no collateral. For example, an...
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