Then the debt grows, and you can find yourself in financial trouble quickly.
You can avoid falling into debt before it happens, however.
We are a non-profit credit counseling agency with more than 22 years of experience.
We have helped thousands of clients become free of their financial burdens by consolidating debts.
Instead, your unsecured debt payments are consolidated into one monthly payment to the agency, which in turn pays your creditors each month.
Your credit counselor works with your creditors to try to reduce your interest rates and eliminate extra fees, like late charges or over-limit charges.
Consolidating debt usually involves taking out new credit to pay off existing credit.
Most people do this to reduce the interest rate on their debt, to bring down their monthly payment amount or to reduce the number of companies they owe money to. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward –- and free. " Debt consolidation is a strategy to roll multiple old debts into a single new one. We believe everyone should be able to make financial decisions with confidence. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. We're on your side, even if it means we don't make a cent.Would you like to learn more about the best way to consolidate debt?Then look no further than American Consumer Credit Counseling (ACCC).Others might consider transferring balances to one credit card or getting a consolidation loan.