Where to Find a Debt Consolidation Program
There are a lot of places you can find a debt consolidation program and some are good while others are pretty bad. Unfortunately the good debt consolidation program places can be the most difficult ones to get help from while the bad debt consolidation program places can be the easiest avenues.
That is the way it goes with money. If you are bad with money then you wind up dealing with bad people and if you are good with money then you probably don't need a debt consolidation program and then the bad people are still stuck. Here is some sound advice on finding a good debt consolidation program and avoiding a bad one.
First the Bad News
There are a lot of finance companies that have existed for years and all they do is debt consolidation program consultation and relief. What they do is take all of your debt, work with you on what you want eliminated, and then write you a check to consolidate all of that under one payment.
It sounds great but it can be the worst debt consolidation program you have ever received especially if you have good or great credit. If you have good or great credit then never step foot in a finance company as you can get better quality help elsewhere. For the rest of us the problem with these companies is that they are taking credit cards that are at 20% interest now and paying them off with a 25% interest loan. They get the lower payments by spreading the loan out for 10 or 15 years. If you can find another way then try and avoid these types of debt consolidation programs at all costs.
The Good News
Go to a bank or credit union and tell them you want to talk to them about their debt consolidation program. If you have good or great credit, or decent collateral, they will help you and since a bank or credit union is interested in all of your money they are going to help you in a way that will be very beneficial to you in the hopes that you will put even more of your money in with them. It is a win-win on both sides and this is the alternative you should try first if you are looking for a debt consolidation program because a bank or a credit union will have your entire financial picture in mind instead of just one part.
