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  1. 1. Debt consolidation is an extremely useful financial technique that allows consumers who are carrying too much unsecured debt to combine those debts into one low, monthlypayment. Using debt consolidation, a consumer can dramatically decrease the interest rates applied to their debts and reduce the amount they pay each month. In addition, since the interest rates are so much lower, consumers who consolidate often get out of debt faster even though they pay less each month. This makes being able to consolidate your debtessential if you are struggling under the burdenof too much debt. However, many consolidationoptions require you to have strong credit scoresin order to qualify successfully. For instance, an unsecured personal debt consolidation loan or a credit card balance transfer both require you to have extremely strong credit in order toqualify for an interest rate that’s low enough to provide the benefit needed. If your credit scores are too low, you either won’t getapproved or will get approved at an interest rate
  2. 2. that’s too high to provide the debt relief you need. This can be a big problem if you are a consumer struggling under the burden of too much credit card debt. As credit card debts increase, the amount you are expected to pay on each bill goes up as well. Eventually, you reach a point as your bills are going up where you start struggling to make sure everything gets paid on time. In many cases, you may be late, miss a payment entirely, or pay less than the full amount due. All of these delinquencies get reported on your credit reports and can contribute to decreases in your credit scores. Luckily, not every debt consolidation optionrequires you to have good credit scores in order to qualify. A debt management program is the one debt relief option that allows you to consolidate debt even if you have bad credit. This is possible because you enroll in a debt management program through a credit counseling agency. Since the agency acts on your behalf to negotiate with your creditors, your credit scores are not a factor for qualification. As long as you have a means to pay the lowered monthly payment the credit counselor negotiates for you, you can enroll. What’s more, enrolling in a debt management program can help get you on the right path to rebuilding your credit. Your totaldebt owed and credit history, together, make up two thirds of your credit score calculations. Bymaking your payments to the debt management
  3. 3. program on time every month, you decrease your total debt and build a positive credit history. This helps to increase your credit scores. For consumers with bad credit, many see an increase in their credit scores upon successful completion of the program. Inaddition, because the interest rate on the debts is so low, most consumers complete theprogram and get out of debt in just five to seven years.debt consolidation loans
  4. 4. debt consolidation loans Consolidatedcredit
  5. 5. org offers
  6. 6. Our allows you to combine multiple unsecured debts like creditcards, payday loans, and more into monthly payments
  7. 7. debt consolidation loans