http://www.debtchampion.com/debt-consolidation/n35.html Debt consolidation program: What is a debt consolidation program? Can it help me? en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 So What is A Debt Consolidation Program, Anyway? A debt consolidation program bundles all of your monthly credit cards together so that you make one monthly payment to the debt consolidation company instead of to your creditors. The debt consolidation company talks to your creditors and explains your participation in the debt consolidation program. They can almost always negotiate a lower payment, and in some cases, they can even get your creditors to eliminate any past fees. Then, instead of paying each of your creditors a payment each month, you make one affordable payment to the debt consolidation company. Benefits include: lowered interest rates (so more of your payment goes toward the debt itself rather than interest), reduced debt, and eliminated creditor calls and harassments. Better credit card debt consolidation companies will even teach you how to budget and remain debt-free. Participating in a debt consolidation program may appear on your credit record if your creditors decide to report your participation in it, but it will not have a negative effect on your credit score. After all, it's an attempt to make good on your debts, not an attempt to avoid them. Accepting the help of debt consolidation program specialist is not a last resort. It is the first step to financial stability. How Your Home Can Help You People wind up in debt for many reasons. If you own your own home, you've done something right up until this point. You may be in debt because your expenses have increased, or your income has decreased, or both. Even if your situation is overspending, a debt consolidation mortgage can help you out of your situation. And even better--it can be tax-deductible. The bad news is that if you miss a payment, you could lose your house. That's why this isn't a good idea if you've experienced a loss of income. If you've been laid off or become disabled, a debt consolidation program is a better idea for you. You can even go with online debt consolidation if you're more comfortable with that. So Many Choices.... If you decide to go with a debt consolidation program, be very careful when choosing a company to provide this service for you. Not all of the debt consolidation programs out there are reputable. Check with the Better Business Bureau when you decide on a company you think you'll be able to trust to be sure nobody has filed negative reports against them. Do your homework... your credit future is depending on you! Get free debt consolidation today! Sat, 26 Jul 2008 15:00:00 EDT