meaning of consolidation

Hi Sophia,

Consolidation is a program which makes your debt repayment easier and helps to improve your credit score with the same shot. It combines all your unsecured debts into one place and helps to pay off multiple debts easily.

On registering yourself in a debt consolidation program, you get a free counseling. The consultant analyzes your financial status first and suggests a suitable repayment plan. Then, with your consent, the consultant negotiates with your creditors and tries to reduce the total amount of debt by eliminating late fees, over limit charges.

If the negotiation is successful, then you have to pay easy monthly installments with reduced rate of interest. You can see the merits of debt consolidation here ???
http://www.debtconsolidationcare.com/overview.html

For any more information, please post your question in the forums.

Regards,
Bryan