The best debt consolidation company ?

Answer 1

Any debt consolidation company will not reduce your principal debt amount. All you can do is to make minimum monthly payments.

But if you join a debt settlement company, they will negotiate with your creditors on your behalf and bring down your principal debt amount by around 30% to 70% depending on your credit companies. You can make affordablemonthly payments and get out of debt within 36 months.

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http://www.debtfreeafterall.com

Good Luck

Answer 2

Honestly, the best credit consolidation comapny is yourself. Credit consolidation does not look positive on your credit report. Some credit consolidation companies will buy your outstanding credit for a fraction of its value so future credit inquiries will assess you at a higher risk level. Plus some will charge you fees, etc.

Line up all your bills in order of minimum payment. Take the amount of available money and subtract the minimum balances until you reach the last, lowest bill payment. Take all the money left over and pay it towards the smallest bill until it's gone. Once that bill is gone, repeat the process until all your debt is gone. As each smaller bill is gone, you will have more money to put towards the next smallest bill, you will have fewer payments, pay less interest over time, and continually increase your credit score as time goes on.

If your credit cards allow you balance transfers for a lower or zero interest rate, that may be an idea to look at in self-consolidating your bills as a first step. But most charge fees, so if you transfer a 15% interest debt onto another 15% interest card, it isn't woth it because they will be charging you a transfer fee...unless they are offering you much less (or zero) interest rate on the transfer for a solid period of time.

Answer 3

DO NOT use a debt consolidation company. "Credit counseling" as they call it looks just as bad on your credit as a repo or bankruptcy, and will stay there just as long too.

Look into special debt consolidation loans from banks and credit unions if that's feasible. Personally, I would rather establish MORE credit that way than having something negative follow me for years to come.

Answer 4

The only legitimate one is Consumer Credit Counseling.

Answer 5

You should do it yourself and save the fees! You can learn how at http://www.thecreditrepairmanual.com