Debt Consolidation

There are many different forms of debt consolidation. In this section, we will focus on debt consolidation using a personal line of credit or a form of negotiated consolidation involving your creditors rather than consolidation that involves home refinancing.

If you are interested in home refinancing consolidation, you can skip to the next section by CLICKING HERE. Otherwise, continue reading.

This form of debt consolidation is a bit of a hybrid, as it involves mostly non-profit agencies similar to the consumer credit counseling services, yet it also tends to include a form of a negotiated settlement as well, so that some consolidation agencies achieve impressive reductions in the total debt owed, and interest can be reduced as by as much as 100%.

This type of debt consolidation typically involves taking your high-interest loans and credit cards and consolidating them into one, low-interest, convenient monthly payment through negotiation with your creditors.

This method of debt reduction tends to work particularly well for people with total debt in the $5,000 range, with a baseline of around $2-3,000 in unsecured (credit card) debt required for acceptance into these programs.

One such program is offered by a an agency called Curadebt. Curadebt is a non-profit agency that offers a free initial consultation. They are unique in that they offer BOTH debt consolidation and debt settlement services, so they can advise you which will work best for your unique situation.

 

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