Debt Consolidation

Debt is one of the most common causes of stress, depression and marital strife. Many people, due to circumstances beyond their control (like an unexpected illness or needed home repair), find themselves deep in debt, being hounded with collection calls by credit card companies, medical billing companies and other debt collectors. Handling these calls and trying to make exorbitant interest payments just to stay above water can be overwhelming.

Fortunately, there are companies that can help consolidate all your debts into a single loan that you can pay over time, at an interest rate usually lower than what you’re paying on your current debts. They’ll contact creditors on your behalf and will often be able to negotiate down the amount you owe. Once they have a complete accounting of all your debts (after adjustments), they’ll work out a payment plan you can afford based on your income and the total amount of debt.

The certainty of knowing how much you owe and that you’ll be able to pay it, can provide enormous financial and emotional relief. ¬†However, it’s important you select a reputable debt consolidation company to work on your behalf. Some have hidden fees and up front costs so it’s important you know who you’re getting involved with. Read online reviews and check with the Better Business Bureau before signing any agreement.

ipt>