Step 1: Choosing the company.
Do your homework. Begin by reading articles on debt consolidation so you can learn more about it. Next you should make a list of debt consolidation firms you are interested in working with.
Check into each company. Have they been in business long? You most likely aren’t going to want to choose a firm that has only been in business for a few years. You could check with the Better Business Bureau to find out if anyone has made any negative reports about them. Discuss any fees associated with each and be cautious about the services they offer. If what they promise sounds too good to be true, it probably is. Some of these companies do not have your best interests at heart, and only want to make as much money as they can from your unfortunate situation.
Step 2: Meet with the representative.
Make sure you are comfortable with him or her. You are going to be meeting with this person many times in the next few years as you work on consolidating and paying down your debt, so you want to have a good working relationship with this person. Also, go into the meeting prepared to discuss your financial condition. Have any documentation with you that could help you develop a plan together to reduce your debt.
Step 3: Make a plan and put it into action.
Make sure you understand the plan. You want to feel comfortable with the process you are going through so there are no surprises. Also, you must resolve to stick with the plan, as discussed, and resolve not to accumulate more debt to add to your woes.
Getting out of debt is hard and sometimes you just need the help of a debt relief program to help you get started in the right direction toward paying off your debt.
Have you ever used a debt consolidation program? Would you ever consider one?
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