Monthly payments

Hi!
Welcome to the forums!
If you have taken out a debt consolidation loan with high interest rate, then your monthly payment is likely to increase. Normally consumers with poor credit history are charged high interest rate on the loans. Anyway, if you want to lower your monthly payments, I would suggest you to shop around. There are loads of debt consolidation companies out there. You can get a list of them from newspapers and websites. Work with a company that offers best service at the cheapest rate. I would also like to add that you should go through the terms of the contract before signing it.

If you go for debt consolidation program, the consultant will get in touch with your creditors and negotiate for a payment plan which you can afford. He will also negotiate with them to reduce your interest rates for debt payments. Once the interest rate is reduced, your monthly payment will get reduced automatically. The consultant will also request the creditors to cancel the extra charges and late fees. Thus, your payments will get reduced. Have a look at the given page to know more about the debt consolidation program, check out: http://www.debtconsolidationcare.com/program.html

You may try out a low rate debt consolidation. Financial organizations that have a new set-up might be eager to offer you what you actually need. You may also reduce the risk of your creditor by obtaining a high value guarantee.