Debt consolidation also known as consumer credit counseling is a creditor sponsored program to help people pay back their balances in full plus interest.

The idea is that these non-profits can consolidate your credit card bills into one easy monthly payment through the non-profit debt management / consolidation plan.

About Debt Consolidation:

* Creditor and collection calls will generally stop.

* In many cases, interest rates and minimum payments are reduced.

* You make only one payment per month and the agency sends funds to all your creditors.

* If your account was past-due, most creditors will reflect you account as current after 1-3 consecutive payments.

* Late and over-the-limit fees are usually eliminated.

More About Debt Consolidation:

* Consumer credit counseling agencies market their program based on the idea that a person who enters a Debt Consolidation plan will get out of debt years sooner than those who try on their own because this is accomplished through interest rate reductions, elimination of late fees & penalties, and a lower monthly payment.

In reality, less than 23% of people who start a debt management plan actual finish it (based on studies from the National Foundation Of Credit Counseling Agencies).

* Debt Consolidation companies have relationships with thousands of creditors nationwide.

* Debt Consolidation companies currently help over 1 million people to consolidate their unsecured loans, bills, and credit card debts into one easy payment, while saving thousands of dollars in unnecessary interest & credit fees.

* People who enter a Debt Consolidation plan are supposed to give up all their credit cards.

Sign up for Debt Consolidation and save thousands in interest payments and reduce the term of your payback.

* Over half of all American households have trouble meeting their minimum monthly obligations. Up until about 10 years ago, the only option was a debt consolidation program. Today, thousands upon thousands of people are turning to debt settlement.

* Since the average household has 14 credit cards, debt consolidation companies were created to help those families concerned with credit debt elimination.

* Debt Consolidation programs are considered by some lenders as equivalent to a chapter 13 bankruptcy.

* Debt Consolidation company will provide you with informational resources and financial tools that you will need to help improve your personal finances.

* Debt consolidation programs are designed for someone who is behind or not paying at all.

* Debt Consolidation companies do not lend you money.

* Debt consolidation is a debt repayment plan that eases your payments by lowering interest rates and eliminating your late fees.

* Debt settlement is not a public record, whereas bankruptcy is.

* Debt Consolidation is typically defined as taking your high-interest loans and credit cards and consolidating them into one, low-interest, convenient monthly payment.

* In a debt management program, you actually repay the debt in full with interest.

* Credit card companies prefer that people deal with specialized Debt Management firms who take on the huge burden of repayment agreements and terms as well as all the attendant paperwork.

While debt consolidation, debt management, and consumer credit counseling is an option many people take, more and more people are turning to debt settlement or debt negotiation as a solution for them. If you would like more information about the benefits of debt settlement and to see if you qualify, submit your name and information or call 1-877-850-3328 for a free, no-obligation confidential consultation.