If you have bad credit and are in serious debt, there are options available for you to consolidate your debt.
There are companies that will help you manage your debt by negotiating with your creditors for lower interest rates, and they will take over the management of paying your monthly bills.
You will send them one monthly payment.
They, in turn, will pay each creditor that you owe.
Their plans will usually save you money and the small monthly fee attached to the service is worth it However, you must be careful in choosing a debt consolidation company to work with.
Some are not legitimate and will take your money and sit on it for a month or two to collect interest before paying your bills.
Since you are directly responsible, you'll accrue late charges and collections, and be no better off then you were before.
Make sure that the company you go with has a long-standing reputation and get references if you can.
Your best choice might be to go with a nonprofit consolidation agency.
They will not only manage your debt, they will also give you counseling as to how to set a budget and rebuild your credit rating.
One of the best places to find a non-profit debt consolidation company is to do a search on the Internet.
When you find one, make sure that there is a consultant that you can actually reach by phone or meet with to discuss your financial history and the problems you are facing.