You need debt consolidation help when you are unable to make all the minimum payments of your credit cards. Or, when you can make the minimum payments, but the balances still remain the same. Both of the signs are your indicator for searching help to reduce your debt.
In addition to making the minimum payments, are you living from paycheck to paycheck? You have no money left after you have paid all your bills? Or, are considering bankruptcy as a way out?
Don’t. You need to find debt consolidation help first.
Where to Get Debt Consolidation Help
You can get cheap debt consolidation help, sometimes even free, depending upon where you decide to take it. There are many ways in which you can get the help.
You could get free debt counseling and financial analysis online, for example. Many debt relief seekers seek advice from non-profit organizations affiliated with government agencies. The institutions offer personal counseling on better money management while providing help to reduce current debts and avoid further debt.
For certain fees, you could also try debt consolidation companies that offer debt management programs. These companies help you “manage” your debt by taking one monthly payment from you and distributing the money among your creditors — with whom they work out lower payments and lower interest rates.
Options for Debt Relief Consolidation Help
There other options for debt relief consolidation help. You can find free do-it-yourself kits at the local libraries. Just go to the libraries and find self-help books that will direct you the steps of paying your debts as well as repairing your credit. You can do debt consolidation on your own by copying, filling out and submitting the available forms to the right sources.
Most creditors prefer letters over phone calls so it is important to contact your creditors in writing, explaining that you put forth the effort to repay your debts. Keep all copies of your letters and return letters from your creditors. This will include recording phone conversations, recording dates, recording time, and even recording the name of the person who called.
You could decide on the amount you can afford to repay your bills based on your current financial situation and the path you choose to follow.
If you are unable to make the minimum payments there is debt consolidation help that offers better solutions than filing bankruptcy. Most of the ways relieve your debts gradually, but you will eventually reap the benefits of your efforts when you become debt free.