Are you looking for a way out of debt? Debt reduction credit card consolidation is one of the ways that many people have used to get pay off their debts. When you are looking for a way to consolidate your debts, make sure to stay away from loans. They can lead to problems, not to mention more debt.
Debt counseling is a way of reducing your unsecured debt through a consolidation process that does not require a loan. There is no credit check or home ownership needed, meaning that about 90% of the people that inquire can be helped with this debt management program. Unlike settling credit card debt, you will be repaying your balances in full. Your interest rates will be reduced to around 10% and your fees will be eliminated. This will save you both time and money.
You will make one payment per month to the credit counseling debt consolidation company and they will disburse it to your lenders. As long as you follow the plan the way it was designed, you will debt free in three to five years, by making a payment that is 2% of the debt that is enrolled in the program.
Settling credit card debt is another option for getting out of debt, but this method has several disadvantages. If you begin with a credit counseling agency, they can refer to other organizations when your debt situation warrants it. They are a one-stop-shop in most case and work with debt settlement agents, bankruptcy attorneys and loan modification processors. So, you will find everything that you need by contacting a non profit credit counseling agency.