Are you sick of being in debt and you want a way out of that pile of bills and those harassing collectors calls? Do you want to know why debt consolidation services are the answer and can really help you in ways that bankruptcy, credit counseling, a financial adviser, and other options cannot? There are many benefits to using a debt service and here are some of the major reasons that this is the best option for you and anybody else with $10,000 or more of debt.
First, if you were to use bankruptcy, credit counseling, a financial adviser, or nearly any other option there would be a fee involved.
On top of a fee, with bankruptcy and credit counseling you are going to hurt your credit and that is not the way to go.
There is a fee involved when you use a debt consolidation services, but it does not have to be paid up front like with bankruptcy and credit counseling.
Plus it is much less than the other two options and you get more for what you pay.
Second, with the debt consolidation services you will be getting a professional company that will negotiate your debts for you.
This can save you a ton of money because they can usually cut your balances in half, completely eliminate the interest rates, and get your monthly payments to be significantly lower.
This is a necessity if you are trying to get out of debt and one that bankruptcy and credit counseling will not provide you at all.
Last, with a debt service you are also going to submit them a budget of all your monthly expenses.
This will give them an idea of what you can afford to spend on your debts each month.
They will take all your debts and combine them into one monthly payment that you can afford, and they will manage paying it out to all your creditors.
This will also include their fee so that you do not have to pay hundreds of dollars up front for their service.
You will have a better shot of getting out of debt within 3 years with a service like this.