Advice from an Insider

When you are looking to get a debt or consolidation loan, stop here and read first.  Get advice from a professional with over 15 years in the industry and learn the inside scoop on consolidating your debt.  When you are in debt, the last mistake you can afford to make is to get duped into overpaying for help in solving your problems.  Learn from the experts how to save money or even consolidate your debt for free.

Debt Consolidation Loans for Free?

Yes it’s true; you don’t need to pay for your debt consolidation loan.  Not for the consultation with a debt professional, and not even fees if you choose to do it alone.  The truth is, while there are some intricacies to the debt settlement and consolidation process, you can do it on your own.   You must be willing to a lot of leg work yourself, and you will have to be diligent and thorough.  It can be done though, follow these steps:

• Gather all your bills together, every credit card bill you have, medical bills, and other outstanding unsecured lines of credit you owe money on.
• Get the contact information for each of these accounts and make a document listing the accounts with this contact information included.  Make sure to have the actual physical mailing address.
• Prioritize your bills from most critical to least.  Do this in order of highest interest rate (most critical) to lowest.  Don’t get hung up on amounts owed at this point, eliminating high interest debt is your first priority.
• Contact in writing your creditors and request a settlement amount.  Tell them you don’t wish to default on your debt, but are actively seeking a mutually acceptable solution or a lesser payoff amount.
• When you have these final payment amounts, record them in the document you made and start adding them up. 
• Take this total amount and write this down as your total amount needed, meaning how much money you will need for your debt loan.
• Look for a secured or unsecured loan for this amount with the lowest amount of interest you can get for it.  If you own a home or other asset, look into a secured loan using these assets as collateral for a much lower interest rate and easier repayment terms.
• Once you have secured a loan and receive your money, take out your check book and start writing.  Make complete and full payment on each of your bills and make copies of all checks and communication with your creditor.
• Make your monthly payment on your new loan on-time until it is finished.  Avoid the temptation to return to a debt ridden lifestyle, try cutting up those credit cards!

Video: Relying on Your Credit Card is More Expensive Than Ever

Too Much for Your Busy Schedule?

Fear not, there are other options if the work above is intimidating to you or you simply don’t have the time to go it alone.  The good news is most debt consolidators make the majority of their money from the creditors, not the consumer.  Also with the increase in the prevalence of non-profit debt consolidators, you can save even more.

Your fees could be as low as $15 a month to work with a professional debt consolidator.  Once more you will have the peace of mind of having an expert working on your side, which can mean saving even more money in the long run.

Buyer Beware:  A Word on Scams

Video: Integrity Counts

Take great care when choosing a debt professional. Sadly these days there are a lot of unscrupulous businesses out there looking to take advantage of you when you need debt help.  To avoid these guys, and you better, just follow these 3 golden rules when looking for a debt help professional:

1. Never pay up front for any sort of service, consultation, or anything.  Never.
2. Make sure your debt professional is registered with the BBB (Better Business Bureau) and has a clean reputation.
3. Use a reputable debt professional.

Reputable Debt Professionals

Mark A. Papiro
121 State St.
Springfield, MA 01103
(413) 733-3100

M. Caroline Cantrell and Associates
1500 NE Irving Street, Ste 100
Portland, OR 97232
(877)  700-1313

Credit Care Counseling Services
310 S Dale Mabry Hwy, Ste 240
Tampa, FL 33609
(888) 871-6007

Debt Relief NW
202 SE 181st Avenue
Portland, OR 97233
(877) 492-4109

American Consumer Credit Counseling
130 Rumford Ave., Suite 202
Auburndale, MA 02466-1371
(800) 769-3571

Money Management International
1 Bangor, Augusta, ME 04330
(866) 889-9347

Debt Consolidation Care
711 S. Carson St. Suite 4
Carson City, NV 89701
(800) 601-1579

Business Partners Group
4340 Leimert Blvd. Ste 102
Los Angeles, CA
(323)  290-6171

California Consumer Credit
4216 Fountain Avenue,
Los Angeles, CA 90029
(877) 866-3322

Zero Credit Card Debt
51 Hillcrest Ln,
 Leesburg, FL 34748
((716)  803-6461

Semco Financial
1055 E Colorado Blvd., Ste 500
Pasadena, CA 91106
(866) 335-3142

North American Debt Settlement
132 W 36Th St. 4th Floor
New York, NY 10018
(877)  333-8364

Lawgistix Debt Settlement
4485 Plainfield Ave. Ne, Suite 101
Grand Rapids, MI 49525
(800) 632- 1028

A.R. Trust Services
19046 Bruce B Downs Blvd, #205
Tampa, FL 33647
(866) 673-3911

Settle A Debt
2265A Route 112
Medford, NY 11763
(631)  716-0023

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