Debt Consolidation

How do I consolidate and pay off my bills?

Millions of Americans are sinking in debt everyday and debt consolidation is a program designed for them to get out of debt. First of all debt consolidation will requires a significant sacrifice for it to really work. Debt consolidation works by consolidating or combining all your bills into one single bill. This consolidation is done by agencies called consumer counseling or debt consolidating agencies.

Basically what these agencies do is make a list of all the unpaid debts. Then they contact all the creditors and try to negotiate the debt to the lowest possible. After negotiating with all the creditors they come up with a plan that will allow to pay off all the creditors in a reasonable time frame. Usually they combine all the bills and come with one monthly payment. As long as the debtor keeps making his/her monthly payments, he/she will be debt free in planned time frame. Consumer Credit Counseling Services (CCCS) is one such non-profit agency.

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