debt consolidation

I can definitely understand you being skeptical. There are a lot of bad apples out there. There are two types of debt help programs that are out there that might can help you.Those two are Consumer credit counseling and debt settlement. Both are good programs and one is not better than the other. It just depends on your situation.

Credit Counseling is great if you are not overextended and simply need to high interest rates lowered and have one payment. On average the APRs will be lowered somewhere around 6-8 %.If you can afford the payment for a dmp with a Credit Counseling Company you should. Reason being is it won`t hurt you credit score and you will be out of debt in around 4-7 years, which is a lot faster than on your own.

However if that payment with Credit Counseling too much then you should consider a Debt Settlement program. Debt settlement is an hardship program and best for consumers that don't qualify for debt management, can't continue paying minimum payments, can't borrow to pay off debts and don't want to file bankruptcy. With Debt Settlement you will pay back is typically between 40% and 50%. You payments will be around half of what they were and will get you out of debt in around 2-3 years. It does hurt your credit because your creditors won`t settle on a current account. That is why this is a hardship program because if you are a good candiate for settlement than your bills are most likely already late or about to be anyways. I like both types of program , it just depends on your situation. I strongly suggest that you look any company up on the BBB to make sure they have a good track record. I hope this helps you choose what option might be best for you. :D

Yeah u can go for debt consolidation.Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an asset that serves as collateral, most commonly a house. In this case, a mortgage is secured against the house. The collateralization of the loan allows a lower interest rate than without it, because by collateralizing, the asset owner agrees to allow the forced sale (foreclosure) of the asset to pay back the loan. The risk to the lender is reduced so the interest rate offered is lower.