5. Debt Consolidation Services – Why Should I Use One?

There are many companies that provide debt consolidation services and that can help you regain control of your finances.

Advantages of using a debt consolidation service


The biggest advantage of using a debt consolidation service is that they will shop around on your behalf. Debt consolidation services will consult with their many financing sources, including traditional banks, insurance companies, credit unions, finance companies, and private lenders in order to find the best possible solution for you. Some debt consolidation services even offer Christian debt consolidation help.

Remember, however, that debt consolidation services exist to make a profit, so there are some things you’ll want to ask them before committing to any deals.

First, determine how much the company charges for their service, and how you will be required to pay (i.e. up front or upon completion of the loan). Some companies require a flat fee that is paid no matter what the result, while others charge a percentage of the loan.

Second, ask the company for a list of satisfied customers. The best way to determine if the company is a good one is to talk to people who have benefited from the service in the past. If the company is unable to produce any references, you could ask if they are members of the Better Business Bureau or any other professional organization. You want to be sure that the company you choose in the end is a reputable one.

Finally, find out what lenders they typically deal with. You want to know how many lenders they are prepared to approach on your behalf. If they say they only work for a single lender that probably means they are more interested in working with the lender than with you.

Be sure to research your options on the Internet before making the final decision on whether or not to use the debt consolidation services they offer.

More Information on debt consolidation:

  1. Debt Consolidation
  2. Debt Consolidation Loans
  3. Debt Consolidation Programs
  4. Student Loan Debt Consolidation
  5. Debt Consolidation Services – Why Should I Use One?
  6. Credit Card Debt Consolidation: Should I Consolidate My Credit Card Debt, or Just Go Bankrupt?
  7. Bad Credit & Debt Consolidation Loan: Can I Get a Debt Consolidation Loan Even If I Have Bad Credit?