How do you know which program is good and which one is right for you. I heard their is a way to check there beruo report or something, not sure what its called. How can you see the results and reputation of the debt settlement program or debt consolidation program.
Most of the debt repair/consolation/settlement companies want their fees up front and leave you credit trashed.
Check nfcc.org for listings legit non-profit credit counseling services. They can help you set up a budget and work out clearing up your debt.
You can tackle your debt yourself by putting every extra penny on the highest interest rate debt, while making minimum payments on the rest. When the highest is paid, move to the next, till they are all paid off.
It will take 2 or 3 years but if you work at it, you’ll be out of debt with a good payment history.
go for a reputed one
The advantage of a debt consolidation repayment plan is that it prevents your creditors from harassing you as long as you go on making lower monthly payments. The drawback of the debt consolidation repayment plan is that all your credit cards are cancelled. You have to make the first payment for the program and an extra fee is levied every month. This fee can range from $10-$50 for all your creditors while others charge $5 for every creditor. This will set you back by about $30 each month that you would have otherwise used to repay your debt.
You can choose providers certified by the United States Bankruptcy Trustee, even if you are not filing for bankruptcy. These companies are screened by the United States Trustee for quality and effectiveness. Below you will find relevant links.
Call BBB in your state they have reports on everyone for you to review. Good luck and take your time to choose because some debt consolidation companies can make your credit worse.