Article: Not all debt consolidation companies are the same. Some are in the business of offering you a service to pay off your bills and clean up your credit history. Others take advantage of your situation and scam you out of your money. To protect yourself from such companies, compare programs based on their services and promises. Non-profit Versus For-profit The only difference between non-profit and for-profit debt consolidation programs is how they file their taxes. Some of the largest fraudulent companies claimed non-profit status. However, there are many legitimate non-profits. Some of these companies are subsidized in part by creditors, reducing fees you would have to pay. This is especially true for agencies which cater to those with poor credit. Legitimate for-profit companies charge comparable rates, but they usually focus on those who still have a good credit score but are struggling to pay bills. Like a non-profit, they can reduce your interest rates for most types of unsecured loans, making repayment easier. Monthly Payment Quotes - The Litmus Test The real litmus test to find a credible debt consolidation company is to request a monthly payment quote. By providing information on your account balances, interest rates, and creditors' names, a debt consolidation company can give you an accurate quote. Compare this payment with several other agencies. Since all companies will get you the same low interest rate with a creditor, there should be very little difference between quotes. Anything too low is a sign of a shady deal. Services Provided Besides requesting quotes, you should also research the services they provide. Debt consolidation involves constant communication with creditors to lower rates, remove late charges, and close accounts. Companies that fail to mention what they do for you are probably more interested in taking your money than servicing your accounts. Also be suspicious of companies that offer debt settlement or bankruptcy help. If they are doing their job, there is no reason to use these credit damaging services. In the end, take the time to research companies to find one you are comfortable with. By making the investment of time now, you can save yourself headaches in the future. About the author: See my recommended Debt Reduction Companies online. Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.
Written By:
HOMEPAGE SITEMAP
5 tips about Debt consolidation
A Debt Consolidation Loan Can Give You Back Your Freedom
A Guide to Credit Card Debt Consolidation
A Guide to Debt Consolidation
A Guide to Finding a Debt Consolidation Lender
A Life out of Debt With a Debt Consolidation Loan by www alifeoutofdebt com
Adverse Credit Debt Consolidation Loan to mitigate ills of bad credit
An Overview of Student Loan Debt Consolidation
Are Unsecured Debt Consolidation Loans Right For You
Bad Credit Debt and Loan Consolidation Advice
Bad Credit Debt Consolidation and Credit Card Debt Consolidation
Bad Credit Debt Consolidation by www alifeoutofdebt com
Bad Credit Debt Consolidation Loans Choosing The Right Lender
Bad Credit Debt Consolidation Loans Unsecured Vs Secured Debt Consolidation Loans
Bad Credit Debt Consolidation What Are Your Options To Reduce
Bad Debt Loans Sub prime Debt Consolidation Loans
Bill Consolidation Loans Lower High Interest Payments And Get Out Of Debt
Business Debt and Loan Consolidation Help Solutions and
Christian Debt Consolidation Company Advice Finding the Best
Consider Debt Consolidation to Improve your Bad Credit
Consolidation Loans A Straight Road Toward A Debt Free Life
Consolidation Loans Get Out Of Debt And Save Money Each Month
Consumer Debt Consolidation Programs Tips for Choosing the
Credit card debt consolidation
Credit Card Debt Consolidation A Credit Card Debtor s Perfect Solution
Credit Card Debt Consolidation Programs A Complete Guide
Credit Counseling And Debt Consolidation
Credit Repair Through Debt Consolidation
Credit Repair Through Debt Consolidation
Debt and Bill Consolidation Basics
Debt And Bill Consolidation Consolidate Debts With No Loan Or Credit Check
Debt and Bill Consolidation Program Lenders Help With Your
Debt Consolidation
Debt Consolidation 101
Debt Consolidation Advice How to Find the Best Program
Debt Consolidation and Debt Consolidation Loans
Debt Consolidation and How to Overcome It
Debt Consolidation Company Qualities To Compare
Debt Consolidation Credit Counseling Agency Help How to Spot
Debt Consolidation Freedom From Debt
Debt Consolidation Home Equity Loans Advantages And Disadvantages
Debt Consolidation Is Your Future Bright
Debt Consolidation Loan
Debt Consolidation Mortgage Loan Pros And Cons
Debt Consolidation Promises Freedom from Debts
Debt Consolidation with Bad Credit
Debt Settlement Vs Debt Consolidation Which Option Is Better
Do you need a debt consolidation loan
Finding the Right Debt Consolidation Advice