Due to a family tragedy, my husband and I are currently in $26,000 of credit card debt. All of the payments are current and the cards are paid on time with the accounts still open (we are not still charging, though). We are looking to seriously pay this down before the interest eats us alive. My husband wants to take out a bank loan and pay the cards off that way, but I am wondering about the debt consolidation programs you hear about (I know some of those are scams and some are real). Any advice or experience?

Product Description
This Program will teach you how to start managing your own debt through understanding your debt. This program will also teach you about your spending habits. You will learn how to know what fees you are being charged and how to cut these fees and lower you total debt. You will learn about your interest rates, late fees, over credit limit fees, transfer fees and how you can lower these fees and save yourself money. Work Sheets are provided along with directions on ho… More >>

Debt Consolidation 101: Your Self-Help Program

Make sure that you only deal with a reputable and established debt consolidation company, one which does not think of the profit that it can get from you, but rather works first on offering you only the best debt consolidation program that is most appropriate for your consolidation needs and repayment.

How to Find the Best Debt Consolidation Programs

For many people, there will come a certain point in their lives that they will have to decide on obtaining a debt consolidation program. Debt consolidation loan has become inevitable, but has to be a choice in order to find relief to the ever increasing financial burden.

There are many choices when it comes to debt consolidation program, and so in order to get what you really need, it’s best that you consider some of these tips for looking for the most appropriate program for you.

Make online research about debt consolidation program

Research the company or companies on your short list from which you will choose your future lender; check on their trustworthiness as well as client history. It can be enlightening if you check also on their background and overall reputation with present and previous clients. Try your best to find out how they serve their customers. Ask for personal review and comments from their customers, what they can say about the company service. It is a good move if you can verify with Better Business Bureau for any existing complaints against these companies.

Never make a quick pay up for a quote

Some unscrupulous debt consolidation companies show more interest in all that they can get from you upfront, especially on money matters, rather than providing you first with information and services about the debt consolidation program. Therefore, these are the kinds of company you need to shun away from as they are just out to make great profits from you.

Becoming a member to obtain free quote

If you are dealing with a debt consolidation company with good reputation, it is most likely that you will be required to become a member of their websites. This is a must in order for you to gain some access to their debt consolidation quotes. Before you are taken in, they will require you to submit personal information such as income, employment, credit history and current bills of expenses. Many are unrealistically fast in offering you a loan quote even when the applicant has not finished filling up the loan form.

Obtain free loan quotes

Many debt consolidation loan companies offer online debt consolidation quotes which you can have for free. Not only is your checking task mainly on finding out about the company, its overall reputation, loan terms, interest rates and success rate, but also on getting consolidation quotes from them.

One must be a ready thinker and action taker

Reputable debt consolidation program companies will not force you to do business with them and be an instant client. However, with the ever moving and fluctuating interest rates, it is up to you to make fast and proper actions in order to obtain the best loan that the company is offering you. Be sure you have a solid decision about any debt consolidation program that is being offered to you; get it quick if you know it’s a good program and reject if otherwise.

What are the places, online or otherwise, that you can go to when it comes to debt consolidation programs

Banks you come across with for the first time – they might be eager to provide you will excellent offers you simply cannot resist.

Banks or credit unions with which you have a relationship are time-tested entities that you can already depend on for great service.

The internet. This is a sure way from which you can get a wealth of information about debt consolidation program. Just be a cautious researcher and aim in zeroing in on the best consolidation companies. Never become a victim of scams, which is aplenty online.

With the many different kinds of debt consolidation companies offering various debt consolidation programs that are intended to eliminate debt, people realize that these modern times, they are presented with these many options to relieve them of their debt than when the situation was in the earlier  days.

There are many means by which you can obtain free information and channel that will help in debt reduction. The Internet is one of the more common and even popular ways by which you can get sound debt relief advices and professional help on what steps to take on once you find yourself trapped in great debt.

And if you are able to carefully plan you’re every move towards debt relief, then it is possible that stress-free, debt-free days are just around the corner. It is so unlike in the early days when you are unable to pay your monthly installments, your only solution that you can think of is to declare bankruptcy. It seems people saddled with so much debt have very little option then. Now it is not the same anymore as even for those with huge and seemingly debilitating debt burden has debt consolidation program to count on.

Advantages of Debt Consolidation Program

A sound debt consolidation program offers you numerous financial advantages over bankruptcy. You must realize that even if your debt woes seem endless, declaring bankrupt will not be the right solution to your problem as it proves to be just a temporary answer.

You will find yourself having obligations to pay up certain types of debts such as state taxes even when you have declared bankruptcy. It is the exact opposite of debt consolidation program as with this type of program, you are able to enjoy permanent relief. More so, if you decide on getting debt consolidation, you are sure to be able to minimize all your debts to about 50 to 60 percent. Clearly this means an efficient debt consolidation program can help you cut all your debt on half.

Debt Consolidation Program and Your Lifestyle

Another important benefit of debt consolidation program is that it gives you the chance to continue living and enjoying the kind of lifestyle that you are used to; there is no need for you to make any major drastic changes in the way you live. The only change you have to contend with is the ability to easily pay back all your existing debts to your lenders in very light monthly payments.

If you are very carefully in choosing the right debt consolidation program for you, it will certainly create a stress-free atmosphere of good credit that you can enjoy, with all your lenders and associates happy for your actions and appreciating all your efforts to make better your financial situation.

The most important of getting a debt consolidation program to the elimination of debt which in turn allows you to enjoy full freedom from your lenders. How? You turn over all the debt responsibility to your debt consolidation company as the latter now deals with the creditors, performing the payment responsibility that you once were burdened with. With debt consolidation, you now have a stress free life, no more harassment on the phone and mails. With this type of loan, you can actually witness all your financial woes disappear away.

An individual’s financial integrity is extremely important and if one is in need of help to get back on track, the best place to go to for debt consolidation credit counseling is a professional, accredited agency. There are so many different options that you can choose from to sort out your credit card debts that it may seem overwhelming at first. A debt consolidation credit loan counseling service can help you to decide on the best approach to take.

A debt consolidation credit counseling agency will go through your financial situation and work with you, and your creditors, to create a repayment plan that you can keep to until your debts are paid off. There are literally hundreds of debt consolidation credit counseling agencies and it is important to choose the best one for you. One of the major factors that you should consider when searching for the best debt consolidation credit counseling agency to suit your needs is to check if they are accredited to a third party organization. Accreditation means that the services of the debt consolidation credit counseling agency are endorsed by another organization that confirms their high standards.

There are a number of organizations that a debt consolidation credit counseling agency can be accredited by but the most well known is the Council on Accreditation of Services for Families and Children, Inc. (COA). This guarantees that the debt consolidation credit counseling agency will adhere to high standards of service delivery, counselor certification, fiscal integrity, and volunteer Board governance. The COA does not give accreditation to every debt consolidation credit counseling agency and they only give their seal of approval to those debt consolidation credit counseling agencies who meet their exacting standards are given their seal of approval.

Many debt consolidation credit counseling agencies are members of the National Foundation for Credit Counseling. Debt consolidation credit counseling agents who are NFCC-certified have undergone a rigorous training and testing program.

To receive accreditation the debt consolidation credit counseling agency must comply with several service-specific quality standards such as:

• Annual audits of operating and trust accounts
• The debt consolidation credit counseling agency meets all consumer disclosure requirements as set forth by the Federal Trade Commission
• Funds are disbursed daily and funds are disbursed immediately in emergencies
• Each consumer receives an assessment of how he/she came to be in financial difficulty, a comprehensive financial plan, and a written plan of action
• Clients receive (at minimum) a quarterly statement

In addition, the COA has their own standards for service delivery & quality that a debt consolidation credit counseling agency must meet for them to be accredited which are:

• Meeting the needs of cultural/ethnic population groups in the communities they serve
• Fair and equitable treatment of creditors
• Minimum fee structures for consumers
• Presentation of educational programs
• Counselors who are NFCC-certified
• Having a branch counseling network in place for support their clients

I’m in big time debt and just can’t keep up with the bills anymore. I need to get some options. There are so many scams and rip offs out there that I’m not sure what to do.