Debt Consolidation

Are you deep in debt? Do you have a bad credit rating? If you have a bad credit rating and need a loan then where do you go? The best option is to choose debt consolidation to help you out in such a situation. Of course there are several other options available but this one would be the best suited depending on your financial or debt situation. A debt consolidation plan will help you to improve your credit over a period of time.

Debt consolidation is a popular method of rising out of deeper debts and is being used by more and more people to help them fight their financial instability. When you opt for consolidation loans, what it will really do is put all your loans or debts in to one while you end up making monthly payments for the debt consolidation plan. Most debt consolidation loan schedules are spread over long time duration and can be from 10-15 years depending on the lender and the plan. A debt management plan to consolidate may cut that time to 3-5 years instead. The advantage of this type of plan is that your debts will be lowered and interest rates may also be lowered.

The other benefits of talking to a debt consolidation loans counselor is the free advice you can receive and the financial knowledge of the Credit Counselors. Credit counselors will go over a budget and answer any debt and financial questions you may have. This is the perfect opportunity for you to get the help you need and get back onto the road of financial freedom.


The effects of a troubled economy are being felt by consumers all across the United States, and as many families struggle to try to make ends meet, more and more people are finding they need help with debt management.

Whether it is due to the loss of a job, reduced work hours, or some unexpected expense or health issue, Americans are seeking help through debt management programs or in worse case scenarios bankruptcy more frequently than ever before. In 2008 more than 1 million bankruptcies were filed, and it is anticipated that 2009’s bankruptcy rates may be even higher as the banking and real estate crisis lingers on.

One of the most common causes for financial debt difficulties for consumers has been the lack of a clear concise financial plan being in place. As a result of the debt people are left feeling overwhelmed when they are unable to manage their debt, and become hopeless about their financial future. Statistically 43% of American families spend more than they make, typically spending $1.22 for every dollar they make, and with figures like these it is easy to see why so many are in financial trouble.

For some people bankruptcy may be the only last resort alternative, but for most people it is simply a matter of getting oneself on a debt management plan and sticking to it. A solid reputable credit counselor or credit counseling agency will assist you with accessing your particular financial problems and offer the best alternative solutions that are available to you relative to your individual debt management problems, and in the fastest time frame possible to have you back in charge of your financial future.

This is not to say that a credit counselor has a quick and easy solution to your money problems, however they do have the answer through hard work and committed actions. Debt management is a thoughtful well planned course of actions to reduce your debt, eliminate the bad debt management habits that are standing in the way of fiscal stability, and achieve your goal of being debt free through a series of steps determined by you and your credit counselor to bring you back into good standing with your creditors and the final goal of being debt free.

A qualified debt counselor will devise a specific budget plan designed to meet your individual needs, while reducing your debt to income ratio, by eliminating waste in your budget and concentrating on reducing your debts in a timely manner. Depending on your circumstances and how much debt you have accumulated your debt counselor may or may not be required to; negotiate the amount you owe, have late fees and interest charges eliminated or reduced, have your accounts re-aged in order to bring you into good standing on your accounts, consolidate all your debts into one monthly payment, and through on going counseling restructure your budget according to your changing needs.

Although these steps are not easy to achieve they are doable, and can be done in a relatively short amount of time when earnestly strived for. Life is hard enough with out having to deal with angry creditors every day seeking payment of your late bills, so the sooner you decide to take the first step to take control of your life and finances, the sooner you will have financial peace of mind and avoid becoming one of the bankruptcy statistics.


Debt Settlement and Debt Consolidation are under a huge amount of scrutiny within the past week. Its an industry that serves a real purpose when done ethically. Like any business there are people who will operate outside of legal boundaries and in some cases commit outright fraud. It's those individuals who have now brought the attention of Attorney General Andrew Cuomo to the industry. To understand the problems you first have to have know how Debt Settlement company is supposed to operate.

In most cases a consumer who has a mountain of debt that they feel they can't pay back will look for some kind of way to pay off the debt for as little as possible. A Debt Settlement company is retained by an individual who then asks them to negotiate a settlement amount. There are a number of variables that will determine exactly how much less they'll be willing to settle for. The amount owed and the age of the debt are the two most influential factors.

Which state you live in also plays a crucial role as well. Certain states will give a creditor much longer to try to collect what is owed under the statute of limitations. After a settlement amount is determined the consumer then has the option to pay the debt off in one lump sum payment or essentially finance the debt. That's where the term Debt Consolidation Loan was coined.

Sounds pretty straight forward right, wrong. Here's where things can go wrong and where the negatives about Debt Consolidation come in. In most cases an individual entering into one of these agreements has a number of debts. It's the job of the Settlement company to ensure that the payments are made to the debtors on time every month. Where things can go wrong is when a payment is made late, or if the company that the debt is owed to doesn't process the payment correctly. The creditor needs to make sure that within their own internal organization that the payments are reflecting the new agreed amount of debt, not the old amount. If for just a couple of months the amounts aren't processed properly then late and over limit fees can accrue.

The other major negative associated with Debt Settlement is that it will most likely negatively effect your credit. However that being said many people who are looking to this type of service have compromised their credit score already. If you have not damaged your credit and want to keep it intact while still finding some way in which to pay down your debt effectively a Debt Management Plan (DMP) might be a better option.

Some of the other negatives is that while in the program you can not use credit cards or try to open up new lines of credit. For most that means no plastic for three years. Which makes it even more difficult to repair your credit if it has in fact been destroyed and you want to build it back up.

If you're able to pay off the debt in one lump sum payment, that's the best option.

Many people believe that they're better off handling the negotiations with their creditors on their own. Some do a fine job, but most don't understand (or have the time) the complexity of the entire ordeal. In most cases the fees in which one will have to pay the Debt Settlement company will be worth it. If you are in communication with a company and you feel that their fees are too high, do some research and find out what the average rates are. It can't be stressed enough that whenever you're contracting with a company to handle any kind of service for you it pays to research them extensively. The importance is only increased when it comes to your personal finances. The BBB and your local city chamber associations are a good starting point when doing your due diligence.

It's unfortunate that there are individuals (and companies) who don't play by the rules. Especially the "Golden Rule", "Do onto others as you would have them do onto you".

Debt Settlement and Debt Consolidation will continue to exist, for the simple fact that the marketplace (consumers) demands it. Businesses don't thrive if there's no demand. Telegrams don't seem to be too popular these days. When the day comes that Americans don't have the same debt problems that they do today then Debt Settlement will go the way of the beeper. Until then just do your research and find a reputable company.

National Association of Certified Credit Counselors ISO 9001:2000 Certified on Quality Management System and BSI

Debt Consolidation Loans

Debt Consolidation Loans help is only a few mouse clicks away. is the premier source for information regarding debt consolidation loans. Millions of Americans just like you are searching for ways to reduce or eliminate their bad debt loans. A debt consolidation loan is a very good way to clear your high interest debt and loans.

Debt Management

Debt Management is a specific financial service that is best suited for consumers with very specific debt problems. The best candidates for a debt management plan or DMP are individuals who have not fallen too far behind on their bills and meet certain requirements. To find out if you would be a good match for a debt management plan click below.

Debt Settlement

Debt Settlement is quickly becoming the most common way for consumers to currently reduce their debts drastically. You must meet certain requirements but it will only take a few minutes to determine if debt settlement is th ebst course of action for you. To find out more information click below.

* Details

* Reduce Interest Rates - Most banks and finance companies offer debt management plans (DMP) thru approved non-profit credit counseling agencies. DMP's may lower or eliminate interest rates and stop late or over-limit fees.

* Lower Your Payments - Debt Management Plans may lower over-all monthly payment. DMP minimum payment requirements are at the sole discretion of the credit grantor.

* Stop Collection Calls - Once an account is approved for debt management plan, collections calls usually slow or stop entirely. Creditors may still call a consumer enrolled in a DMP.

* No New Loans - does not offer loans. This site is maintained by a non-profit consumer credit counseling agency. Free Financial counseling is available, and debt management plans are available. is brought to you by Delray Credit Counseling, a non-profit educational service dedicated to providing consumers with the financial education and resources they need.