How does the debt consolidation work

debt consolidation combines all your unsecured debts under one repayment plan. You pay to the consolidation company every month and they post your payments to the creditors in the program. The counselor calls your creditors and negotiates for lower interest rates. You also get some reduction in fees and other charges. This page lists some of the benefits in the program.

http://www.debtconsolidationcare.com/benefits.html

A counselor will be calling to discuss about your options. He will plan a repayment which suits to your present financial situation. In most cases, people consider this program when they are unable to pay their debts because of high interest rates or expect delinquencies in the coming times. Analyze your situation carefully before starting with the program. This is going to repair your credit when you need the most and all your debts will be paid under the plan.

I am using a company out of MA, they contact each creditor and work out a payment with them, they also charge me a small fee for using their company. They then debit my bank acct on the same day each month for the same amount and distribute the monies to each respective creditor. I have had no problems with this company and have used them for the past 6 months. PM me if you want to to know the name of the company or see my blog for the link