Once you decide you might want to research your options in this regard, you’re probably already behind on payments and in serious trouble. Maybe you have even tried to contact your lenders and credit card companies to discuss your problem and ask for the payment and interest options and they probably ignored your pleas.

There are professional debt consolidation counseling services out there that can help. Some are non-profit organizations that do nothing much other than to provide your forms and telephone scripts so that you can deal more effectively with your lenders. Some even offer free credit counseling services although if you’re at the point of being in severe trouble, you’re well past the point that credit counseling will help solve your current problem.

Many organizations calls themselves ‘credit consolidation services’ but their services vary greatly from one to another. There are also many scammers out there who promise to help but end up causing you more problems than you had before. Don’t sign anything and don’t hand over personal information until you at least check the local Better Business Bureau for past reports of questionable activities.

Make sure they are real companies, too. Check their state’s business website and look for their name and address. See how many employees they have, and make sure they are still ‘in good standing’. If you don’t see any mention of them on this site, that’s a big problem. It’s all too easy to build a cheap website and get a fake address and a phone number, but this doesn’t mean you have legal permission to do business.

Your goal in hiring a firm to help manage your debts is to reduce your monthly payments to a manageable sum, while retaining control over your income. These services aren’t free, but they should usually be based on a sum of your new monthly debt. If they are asking you for long-term membership fees, down payments, or anything like that, run.

Stay away from debt consolidation companies that want you to send your payments to them each month so they can in turn pay your bills for you. There is no need to do that, and these companies are usually the scammers. A recognized George debt consolidation company can help.

Find a reliable debt consolidation loan company to help. Be sure to get proof for each new deal they negotiate with a creditor and pay each bill yourself each month. Don’t just take their word for it; you want to see your new interest rate and monthly payment for each company on your new consolidation program.

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Mortgage Debt Consolidation – Knowing Your Options is a post from: Negotiate Credit Card Debt and Negotiating Credit Card Debt

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