A little knowledge now could save you time, money, stress and aggravation down the road.
First of all, I know that you are in debt and likely very stressed about it, or let's face it, you wouldn't even be reading this article. But let me assure you that by seeking help with your debt situation, and better yet, educating yourself about your options,
you have taken the first vital step towards eliminating your debts and the stresses that they bring.
So congratulations, you are already ahead of the game.
Now, where to turn for help.
Many people just like you feel preyed upon by the myriad of 'debt help companies' that are out there proclaiming that they can help you with your debt situation. The question is, can these debt consolidation, credit counseling and/or debt negotiation companies really help you, or are they just out to take advantage of your delicate situation?
A good starting place is to take a closer look at exactly how these debt elimination services really work, learn the differences between the services and decipher all of the promises that they make.
Are debt consolidation, credit counseling and debt negotiation all the same thing?
Let's take a look at each.
1. Debt Consolidation:
There is a common misconception that debt consolidation programs involve the consolidating of your debts which is just not true. What is consolidated is your payments, allowing you to make just one payment each month to the debt consolidation firm that is handling your account. This company would then turn around and pay each of your creditors on your behalf.