Have you seen one of those advertisements for non profit organizations offering to help you get out of debt? They garner immediate trust, don't they? After all, everyone in the ad and on their website seems so pleased with their services, and they are, after all a non profit organization - therefore they must be totally altruistic, right? Well, many are, but don't just automatically assume that this is the case.
First of all, how does debt consolidation work? Well, when you have many outstanding debts - such as student loans, medical bills, and revolving lines of credit or credit cards - it can be helpful to combine all of those into one payment. This is what a debt consolidation company can help you to do.
What you, as the debtor, are most often required to do is take out a new loan at a lower interest rate to cover that payment. Other services sometimes offered by the consolidation organization often include brokering negotiations with credit card companies to get lower rates and a reduction in the total amount owed, or credit counseling. Because non profit debt consolidation firms get much of their operating capital through grants and donations, they can offer these services at little to no charge.
Sounds magical, doesn't it? Well, not entirely. There's no speedy cure for annihilating debt immediately and painlessly. Even debt consolidation has its downsides. For instance, even at lower rates and lower payments, it will still likely be years before the debt is entirely paid off. Secondly, the use of a consolidation service can sometimes have a negative impact on you credit rating, or FICO score. As with any decision in life, you need to weigh the pros and cons.
-------------
Wonder Blogs | Worlds Best Blogs
Webs Best Blogs
--------------------------------------------------------------------------------------------
1.Entertainment | Software | Romance Tips
Romance Tips
2.Movies | Software
Movies Software
3.Movies Software Ebooks Music
Movies Software Ebooks Music
4.Natural Diet Remedies
Natural Diet Remedies
5. Natural Treatment Info
Natural Treatment
6.USMLE Medical Books
USMLE Medical Books
7.USMLE Step 1
USMLE Step 1
8.USMLE Step 2
USMLE Step 2
9. Medical Books
Medical Books
--------------------------------------------------------------------------------------------
10.Tech Updates
Tech Updates
11.Resume Samples
Resume Samples
12.Download Books Free
Download Books Free
13.Acne Treatment
Acne Treatment
14.Pet Grooming
Pet Grooming
15. India Entrance Exams
Entrance Exams Results
16. Hot Jobs Careers
Hot Jobs Careers
17.Medical Nursing Jobs
Medical Nursing Jobs
18.Laser Eye Surgery
Laser Eye Surgery
19. Rapid Weight Loss
Rapid Weight Loss
20. Acupressure
Acupressure
--------------------------------------------------------------------------------------------
21.Six Pack Abs
Six Pack Abs
22.Stop Snoring
Stop Snoring
23.Premature Ejaculation
Premature Ejaculation
24.Hemorrhoids Treatment
Hemorrhoids Treatment
25.Quit Smoking
Quit Smoking
26.Penis Enlargement
Penis Enlargement
27.GRE Exam
GRE Exam
28.GRE Test
GRE Test
--------------------------------------------------------------------------------------------
29.Spyware Remover
Spyware Remover
30. Diamond Jewelry
Diamond Jewelry
--------------------------------------------------------------------------------------------
31. Hypnosis
Hypnosis
32. Piad Surveys
Piad Surveys
33. Registry Cleaners
Registry Cleaners
34. Satellite Dish Tv
Satellite Dish Tv
35. Dating Sites
Dating Sites
36. Make Money Online
Make Money Online
37. Save Marriage Counseling
Save Marriage Counseling
38. Dog Training
Dog Training
