can this work

Welcome the site!

You'll find there is a huge variety of debt consolidation agencies out there, and many of them have different requirements as far as the debt they'll work with. Some only do credit card debt, and you have to have a minimum debt level before they'll work with you. Some will work with all forms of debt. Definitely check out their reputation with the Better Business Bureau (BBB) before proceeding with any agency.

Your best bet is to ask the agency when you talk to them about their program. We also have a list of agencies ranked, listed by state: http://www.debtconsolidationcare.com/ranking-chart/

You may also want to check out the Benefits of Consolidation:

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

If you have any questions, please feel free to ask - we're here to help!

How much debt do you owe and which ones? In terms of student loans, you can consolidate them into one payment. You need to contact your loan company to question them about so forms of consolidation.

But you can consolidate the other debts either using a debt consolidation company or you can do it yourself which can be cheaper than going through a firm. You can use the Do It Yourself method located on this board that gives you great information and sample letters how to settle payment arrangements for yourself.

If you choose a debt consolidation company, please research them carefully to determine which one will satisfy your needs. Like I said, you may have to pay a fee to before you can start with the company.

Student loan payment arrangements should be made with the guarantor or collection agency holding the loan. When I was working collections, we were not permitted to accept payments thru 3rd party debt consoldiation companies or consumer credit counselling. We would get proposals frequently and we had to return them as denied. Part of the reason was that neither the guarantor or the CA would pay the fees involved in the payment plan. Second reason was that we needed to be able to reach the debtor directly and not thru a third party.

Student loans are so hard to get rid of because you can't really make arrangements on them nor can you put them on bankruptcy. You are actually stuck with paying them back. I wonder if someone does eventually pay them back in full. I would love to meet a person like that.

Quote: