Things to Look For When Choosing a Debt Consolidation Agency

If your debt situation has gotten to the point where you can no longer handle it personally, then debt consolidation might be one of the choices you have of dealing with your debt problem. Debt management programs are for people who are behind on their bills and in financial distress. The companies are designed to offer financial advice and a plan to manage your debt. There are several debt consolidation agencies out there and you need to know what to look out for in selecting the right agency for you.

1. Check if the agency is accredited

Find out the agency's credentials from the Better Business Bureau in your state. They should have records of complains lodged against the agency. Do not sign with a company that is not licensed. A phone call to the NFCC (National Foundation for Credit Counseling) or AICCCA (Association of Independent Consumer Credit Counseling Agencies) should be able to get you a referral to a reputable agency in your state.

2. Determine if they offer the service you require.

Inquire about the debt consolidation programs of the agency. A good agency will have different programs tailored to meet the peculiar debt situations of their clients. Stay away from agencies that offer a standar4d one-size-fits-all service.

3. Check if the counselors are certified

The last thing you want to happen to you is to end up in the hands of amateurs and inefficient counselors that might worsen your debt situation. A good debt consolidation agency should have a good number of highly trained staff.They should have people with the right training and expertise.

4. Find out if they offer training on budgeting and financial management

Most people get into debt because they lack these skills. Part of the responsibility of a good debt consolidation agency therefore, is to provide training in budgeting and financial skills for their clients. The best agencies are always ready to help you and give you free consultation regarding the debt problems you have.

5. Be clear about all payments

Debt consolidation agencies might charge a small application fee. Non-profit agencies usually don't but might ask you for a monthly donation. Ask about every fee you have to pay. Make sure you are not roped into ant hidden charges. Beware of agencies that want you to an upfront fee before checking your credit status and putting on a program.



Check out the link below:

Debt Information Center to get more free information on debt management and consolidation.

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Debt Consolidation Overview

If you've seen on TV, ads about debt consolidation, you went online and saw even more websites
about debt consolidation, you are probably asking yourself how this service works, and what can he
do for you. Well my fried you've come to the right place. In this article we are going to tell you all the
benefits that you will get by signing up for a debt consolidation company.
This new service that just arrived on the market is going to be explained in this article so pay close
attention to it, because you might notice how convenient it could be for you.
We are first going to make a short list with all the benefits that you can get from debt consolidation:
- the first and most important benefit is that you will be able to get out of debt a lot faster, than if you
were on your own. They have invented a lot of techniques that you could use, and help you save
money in the same time.
- another benefit is that your debt is going to be reduced. Debt consolidation companies can talk to
your creditors, and renegotiate your debt, this way the money that you are going to pay back to your
creditor could be even 60% lower than what you currently owe.
- the interest rate that you are currently paying are going to be slashed down. Right now you probably
have lots of unsecured small loans, those loans have a large interest rate, the moment you consolidate
your debt that interest rate will go down, and this way it will be easier for you to pay down debt.
- You will take control of your financial life, this is an important benefit. If you are in control of your
debt you are in control of life. It will make you feel a lot better, and you will feel safe, because you
will know exactly what you will have to do next.
- you will not receive any more harassing calls from your creditors. Imagine that you will be able to
answer the phone without that fear that is just another of your creditors asking for money.
- your monthly bills will be reduced. A debt consolidation company is going to offer you a lower
monthly bill, that will best fit your current budget. This way your credit score won't have to suffer
because of your financial situation. The credit score repair is hard to do, with debt consolidation you
will be able to save money by rebuilding your credit score, and in the same time your financial
credibility.
All these benefits combine are able to offer you a financial comfort form the moment you sign up,
until the moment you are debt free, and if you are going to use the advice that you will get from that
debt consolidation experts, you will stay debt free, from that moment on. A debt consolidation
company is on your side, the main goal of a debt consolidation company is to get you out of debt, the
more people they help to get out of debt, the more people will be able to get, as word of mouth
referrals.