6 Step To Joining A Debt Consolidation Program

Many people find themselves treading water when it comes to credit card debt. Whether you are current or behind on credit cards, personal loans, collection accounts, or medical bills, there are debt consolidation solutions out there for you. This will help paying off your debt easier and help you save money on the total payback amount to your creditors. Below are six easy steps to enroll in a consolidation program:

• First, find a certified credit counselor for a free no-obligation financial evaluation or debt analysis. By contacting a reputable debt relief company and receiving free credit counseling with a counselor, you’ll have a much better understanding of your financial situation and options available to provide debt relief. The credit counselor will evaluate your debt, expenses, and income in order to determine the state of financial hardship you’re in and what exactly you can afford to pay off your debt.
• Next, join a debt consolidation program. By enrolling into a program, you’ll immediately feel debt relief. The counselor will determine which debt Consolidation Company works in your state and is the best program for you.
• Then, you’ll receive paperwork needed to sign to enroll in to a debt consolidation program. The counselor will also provide you with details on fees required, which are typically regulated by your state, and necessary documentation to speak with your creditors on your behalf to negotiate rates or payments.
• After you sign documents, the proposals or negotiations will begin to get your creditors to reduce their rates and payments. Contacting the creditors will only happen after necessary documents are completed.
• Step five would be, sending your monthly payment to your debt consolidation company each month. This is very important to make sure all agreements which the debt consolidation company has worked are met. If payments are continuously late on the program and therefore not making it to the creditors when promised per their agreement, you may be dropped from the program.

To ensure success on a debt consolidation program, it’s important to do your research on the debt consolidation company you are working with, thoroughly understand the agreement you sign when enrolling into a debt consolidation program. Finally, make your payments on time each month to see progress on the program and light at the end of the tunnel.