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Resources for Debt Consolidation Help

Debt Consolidation
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If you are searching for debt consolidation help, then you are not alone. Thanks to high interest rates attached to credit cards, it's all too easy to rack up high balances and find yourself in serious financial trouble. Review these resources for debt consolidation help so that you can seek advice from professionals that delivers the best solution for your needs.

Debt Consolidation Counselors

Credit counseling is the most popular form of assistance used by borrowers who are in debt. Reliable debt consolidation counselors have expertise in the consolidation process and will gladly review your current incomes and debts to suggest the best course of action. Depending on your goals and assets, your counselor may recommend acquiring a home equity loan or personal loan. He or she may also recommend acquiring a low-interest credit card.

In addition to offering recommendations, a credit counselor will also facilitate the actual consolidation process. For example, a counselor may contact creditors on your behalf or help you complete the loan application process.

Government Debt Consolidation Loans

In some cases, the government may offer consolidation options for consumers. Government-funded debt consolidation loans are generally in place to assist individuals who are having difficulty paying student loans. For example, the Federal Direct Student Loan Program (FDLC) is a government program that rolls all eligible student loans into a single loan for easy payment. The benefits of a government consolidation include reduced monthly payments and the ability to retain subsidies on subsidized loans.

Debt Consolidation Help From Lenders

In some cases, it may be worthwhile to cut out the middleman and go directly to lenders for debt consolidation help. Since you will likely need to go to a bank or other institution to acquire a debt consolidation loan, this can serve as a convenient form of assistance. If you trust your current bank, then you might consider visiting a financial advisor at your nearest branch for advise on available loan options. This can be beneficial because the advisor can put together actual estimates for several loan options so that you can compare specifics and choose the one that best meets your needs.

Find local Debt Consolidation Resources