Some companies will require that you have a minimum amount of unsecured debt, usually ,500 or more.
Under most circumstances, debt consolidation companies can’t help with mortgages, secured personal loans, or car loans.
compiled information on six of the top debt consolidation companies in the United States and reviewed them based on services, fees, and reviews from the Better Business Bureau.
The ratings, plus tips on how to choose a debt consolidation company, are below.
Each one has a distinguishing feature that makes it an appropriate – or inappropriate – solution for your problem.
It’s up to consumers to sort through the choices and determine which company meets the goal of eliminating debt.
If they receive bonuses for selling additional services, that should be a red flag.
Comments Debt settlement does severe, long-term damage to your credit score, a fact the company admits on its website.
Some creditors won’t deal with debt settlement companies, but if you’re not worried about your credit score, this might be an appropriate option.
A company should make you feel like it has your best interests at heart at all times.
Most debt relief companies can help you settle your unsecured debts, including credit card bills, unsecured personal loans, payday loans, medical and hospital bills, department store credit cards, accounts in collections and certain utility bills.