If you have a home a debt consolidation refinance may be your best bet to get out of debt fast. Your next option would be to work with a debt consolidation company.
Once enrolled in a debt consolidation program, you no longer have to deal with the creditors. You will send one monthly payment to a credit counseling company and they in turn disburse it to your creditors on your behalf.
Any unsecured debts such as credit cards, lines of credit, department store cards, personal loans judgments and liens, student loans, medical bills, business loans, collection accounts, and past due utilities qualify for debt consolidation.
Creditors are not willing to lower your payments out of the goodness of their hearts. They are willing to cooperate with debt consolidation service companies in order to avoid losing all payments to clients who may decide to file bankruptcy. Creditors are willing to grant concessions to debtors in the form of lower monthly payments and reduced interest charges, with the understanding that they will at least receive the principle back under the debt consolidation plan.
We provide free credit card debt and debt consolidation advice in the personal finance forum.
