You are here: DIME Home > Debt Relief & Management > Managing Your Debt through Debt Consolidation

Managing Your Debt through Debt Consolidation

Debt consolidation is where you consolidate all of your monthly bills into one payment. When you consolidate your debt you could save thousands of euros of month and pay your debt off quicker. These companies will work with your creditors to get you a better interest rate and a lower payment.

Author: Alan Wulz
Date: May 27, 2010 - 11:55:16 AM

Printer friendly page

It is very easy to accumulate debt and it is sometimes difficult to eliminate it. With the economy in a downward spiral, consumers are turning to loans and credit cards to pay their bills and make it from day to day. This has created a large amount of debt for consumers because most of them have overextended themselves and are unable to repay their obligations. Millions of people have lost their jobs and that has put them even further behind on paying their bills. Fortunately, there is help through debt consolidation, which will help you manage your current debt situation.

What is Debt Consolidation?

Debt consolidation is where you consolidate all of your monthly bills into one payment. When you consolidate your debt you could save thousands of euros of month and pay your debt off quicker. These companies will work with your creditors to get you a better interest rate and a lower payment. Typically these companies will roll all of the debt into one note and you will pay one monthly payment to the consolidation company. You can combine almost any payment or note that you have such as credit card payments and loan payments. Unfortunately, you will not be able include your home loan or your regularly monthly bills such as your electricity or cell phone bill, but you will be able to save money every month with debt consolidation.

Do I Need Good Credit In Order To Qualify For Debt Consolidation?

When you apply for debt consolidation the company will run your credit and they will review your credit report. Obviously if you have a ridiculously low credit score they will probably not approve you, but you do not need perfect credit. If you are need debt consolidation services you have probably missed several loan or credit card payments and they are aware that you need help.

Which Debt Consolidation Company Should I Choose?

It is very important to choose a reputable Debt Consolidation company. You should choose a company that is in good standing with the Better Business Bureau and has no formal complaints against them. Remember, you will have to give them all of your personal information such as social security number, birth date and all of your credit card numbers and account information. If this information were to fall into the wrong hands you could easily become the next identity theft victim.

Could I Do This Without a Debt Consolidation Company?

Sure, you will not have a company that represents you but it is possible. You will need to gather all of your bills and organize them. You will need to call your credit card companies and see if you can negotiate a lower interest rate or negotiate a lower monthly payment for an extended period of time. You can do this on your own but there are more benefits when you go through a debt consolidation. They will contact all of your creditors on your behalf and they will be able to stop all of the collection calls. Managing your debt will help you get your life back on track and you will feel the relief in your daily life.

View all articles by Alan Wulz

Link to this article:

Code to copy: <a href="http://www.dime-co.com/debt-relief/Managing-Your-Debt-through-Debt-Consolidation.shtml">Managing Your Debt through Debt Consolidation</a>

Top 5 Ways to Stop Being a Shopaholic

Jun 11, 2011 - 8:05:54 AM

Compulsive buying disorder may not seem like a common disease, but more people have it than you think. Common symptoms of this disorder include anxiety, mood problems, obsessive-compulsive hoarding, among other things. People who have it are more commonly known as shopaholics.... [Read the full story]

A Quick House Sale Can Be The Answer If Facing Serious Financial Issues

Mar 20, 2011 - 3:24:42 AM

Let's face it; the recession still haunts many individuals across the UK who are still suffering the severe effects, having either lost money on their property or through losing their income as job cuts and redundancies became strife as business closed down and still continue to close down. For many the unfortunate situation has already presented itself and homeowners have lost their homes because of being unable to afford their payments.... [Read the full story]

Abusive Debt Collection Practices

Jan 19, 2011 - 4:57:55 AM

Not too long ago I was having a very typical morning; I was reviewing my morning emails from clients and opposing counsel, sorting through the mail and having a meeting with staff and associates regarding our daily work assignments. However, later that morning I stumbled across a blog published by a well-known and heavily circulated debt collection organization, InsideARM. The blog was shockingly titled, "Guns Don’t Kill People, Debt Collectors Kill People?" Intrigued (and always interested in reading up on the industry to find out the new tricks and tips they use to try and deceive consumers) I read on.... [Read the full story]

How to get out of credit card debt

Dec 29, 2010 - 6:05:59 AM

Credit card debt is a major problem in the U.S these days. Statistics reveal that personal bankruptcy rates have increased tremendously and every family in the US carries almost $8000 credit card debt on an average. Credit card debt can get on your nerves and can very well turn you bankrupt. So you need to know how to tackle the situation before it is too late. Here are a few tips which would help you to get out of credit card debt before the situation gets out of control:... [Read the full story]

Newest Articles in Popular Topics:

Business & Marketing

Computers & the Internet

Entertainment

Health & Fitness

Finding Ways To Save Money And Maximize Revenue In Business

Cooper's Golf Park Tees Off Their New Website

Fiinovation Adjudged CSR Team of the Year & Caring Company at World CSR Day

Reasons Why Kale Realty is the Best Real Estate Firm in All of Chicago

Montreal Tech Startup Kangaroo Rewards Launches Mobile Loyalty Program for Local Merchants

It is time we break out of the SEO Shelter

3 Strong Reasons You Should Start Your Own Blog

Evolve Your Career With CompTIA A+ Certification Exam

High speed VMware Backups - Powered by UltraBlaze(�) from Vembu

Things to Consider When Selecting a Domain Name for Your Website

Fling Boom "Launches" This Holiday Season

Beautiful Abstract Canvas Art is Up for Grabs

Buying Art as a Gift: Tips From an Expert

Complete Guide to the 2014 Gatlinburg Fine Arts Festival Released by Jackson Mountain Homes

Learn Blues Music Online-Alternative to Traditional Piano Lessons

Causes and Treatment of Acne

What Type Of Constipation Home Remedies Are There?

Manual Wheelchairs: Buying One

Instant Facelift with Dental Implants

Lasik Surgery Leading Correction Of Vision Issues

Home & Family

Shopping

Sports

Travel

Enhance Your Learning Experience Through Best Responsive Elearning Development Tools

Best Apps for Learning German

Esvees is Cranbourne's Elite Hair Dressing Company

Ozone Generator

Practical Tips When Choosing Gates and Gate Openers for Your Home or Business

Why Cases are Required for Mobile Phones?

Are Dealership Services Worth It?

2015 Jeep Grand Cherokee Named Must-Shop SUV for Towing from AutoTrader.com

Online Selling With An Appraisal Advantage

Macsome AudioBook Converter released New Version V2.0.4

Aditi Ashok signs off with a double

Softball Coaching: Avoid Becoming A Nattering Nabob of Negativity

Softball Coaching Tips - The Funnel Approach

Pick Up Specialized Advice on Jumping Exercises Which Are Highly Effective

Vertical Jump Training Tactics to Increase Your Athletic Performance

Tips for Choosing the Right Paris Short Lets

Hostels - the best choice for working womens and college students

Perfect holiday? Book a cruise and sail in Croatia!

Say Aloha to Your Best Vacation Ever with Kohala Coast Properties

The Perfect Guide for a Fantastic Family Trip to Kansas City

Search for articles:

Follow & Share Your Favorite Video Articles

Tell a Friend About This Site

Tweet about this site

Follow @dimeco

Subscribe to the eMarket Smarts^TM Newsletter in order to keep up to date with what's happening with dime-co.com, get the emails on new video articles, featured articles, and more. Your privacy is always protected. We never rent, sell or trade your private information

Recommended Associates

Latest Articles in All Categories

Putting Up a Small Commercial Printing Business

So You Might Be Unemployed And Desire To Become A San Francisco Real Estate Investor Now

Meditation and Mindfulness: Dealing With Emotion

CPA Websites: Five Essential Ideas for Composing Convincing Articles

Set Goals In Order to Come Up With Your Action Plan

Is the Air in Your Home Safe to Breathe?

Coarse Fishing Tackle Review: The JW Young 13ft Trotter Rod

Section 1031 Exchanges For San Diego Real Estate Investors

Phoenix Real Estate Investing For Highest Possible Earnings

Legendary are the Volk Racing TE37 Wheels

Developing the Next Generation Wall Station (ChaseDesk™) for Healthcare - A Case Study

What are step down transformers?

Introducing Sharehype, the Revolutionary Tool for Online Marketers

Rewards To Shopping For Austin Real Estate On The Web

Hydroponics for Beginners

Do you write?

Would you like submit your articles and have them approved on a priority status? Find out more about how you can become a Priority author for pennies a day! Click here.