When considering debt consolidation loans, make sure you acquire the services of reputable companies, such as the ones listed below.
Debt consolidation programs can either help or cause you more troubles. Remember that this plan of action is intended to shift your financial obligations but it does not abolish your debt completely. You may even end up paying a bigger amount of interest if your payments are extended over a longer duration. Check out the consequences of longer repayment schemes using a calculator for loan amortization. You may be compelled to make use of home equity line of credit or loan for debt consolidation loans. In both cases, you are faced with the danger of losing your real property. Your house may be foreclosed if it is used as collateral for any mortgage.
Variety of Debt Consolidation Programs
You have a number of choices so the best alternative is to do some comparison shopping and look for the program that will suit your requirements.
Try the following options:
- Local credit unions or banking institutions that you maintain a relationship with
- Banks that have not approached in the past
- Person to Person lending sites
- Mailers offering debt management services
Aside from shopping around, you can look for excellent deals through credit management. Just makes sure that your credit scores are always outstanding. You can also ask for personal referrals from friends and next of kin.
Leading Companies in the United States
It is not easy to find companies engaged in this practice. You have to be patient to find a legitimate and competent service provider. There are numerous debt consolidation companies in the country. The top ten are said to be the the following:
- Federal Credit Union is a nonprofit debt consolidation firm that assists individual persons and families with regards to debts and bankruptcies before the cases reach the proper courts. It remains as one of the more well-known consumer debt management companies.
- Consumer Credit Counseling Service or CCCS is a free and registered charity organization staffed by financial counselors who provide complimentary advice and support for Americans with debt problems. It works with Housing and Urban Development in providing consolidation services and credit support.
- Amalgamated Credit Counselors offers debt management services focusing on personal debts and consolidation.
- American Debt Consolidation also makes available modified credit management with nominal borrowing cost.
- Consolidated Client Services is new in the industry of debt consolidation. Nonetheless, it has earned prominence for its outstanding credit facility and services in debt administration.
- Credit Solutions of America offers clients quality and fast credit services to help consumers address their credit issues.
- Debt Management Credit Counseling Corporation is a nonprofit debt consolidation and counseling organization. It employs experts who are capable of imparting expertise to resolve debt concerns.
- com serves as the online domain for the American Credit Foundation. It offers management programs for all kinds of consumers.
- FH Financial Services has a total liability or debt counseling solutions for persons in debt that can be availed of at very low costs and quicker pay-off period.
- com is an online enterprise which offers one-stop-shop solutions for all types of debt management requirements.