Debt consolidation community: 115,000+ people already helped for free

Welcome to the Internet's first get-out-of-debt community. Our community members and debt consultants offer advice on debt consolidation, debt settlement, debt consolidation loans, dealing with payday loans and collection agencies. They try to make your life debt free in an organized manner. Avail a free debt counseling session and allow a debt consultant to bail you out of the stressful situation.

What can you expect after filling up this sign up form?

A debt consultant calls you over the phone for a no obligation free debt counseling session. During the course of the free debt counseling session, a thorough evaluation of your financial situation is undertaken.
If you approve, the debt consultant will contact the creditors and begin negotiation. Negotiation is done to reduce debts and waive off any interests or default charges. Your debts get consolidated into a single account and it saves you from dealing with different creditors simultaneously. You will also stop receiving harassing calls from creditors or collection agencies.
The debt consultant will guide you to deal with your debts better. He will help you to budget your expenses and repair your credit.

Is debt consolidation good?

In majority of the cases, debt consolidation has been found to be a good option for people who are burdened with debt and wish to lead a debt free life. Benefits of debt consolidation and amount saved by consolidating your debt make it THE right option.

8 benefits: By opting for this option, you can stop harassing calls from collection agencies. You can also reduce penalties and accrued interests. You can work out a monthly repayment plan by consolidating all your debts. Within 2 to 3 years, you can pay off all your debts.

Know how to solve debt problems

Learn how to repair your bad credit and get out of debt quickly with the 5 ways of solving debt problems. Given below are financial options that help you to consolidate debt.

Self Repayment Plan: You can reduce your debt on your own. Just by assessing your financial status, making a plan and executing it successfully. It obviously does not include any third party fees but you need to have good knowledge of procedures to reduce debt. How much you can save from a debt relief plan can be found out by making use of the different calculators.
Debt Consolidation Loans: A type of personal loan, with which you can pay all your unpaid debts like credit card bills, medical bills and other loans. This loan allows you in making a single payment on multiple debts and then deal with a single creditor. You need to check if you are the right candidate to apply for this.
Debt Management: This is a method by which a credit counseling agency or a law firm provides debt assistance to manage your debts by reducing your APR. You should know the right time to start it also the process it follows and the advantages and disadvantages.
Debt Settlement: It is a process to eliminate your outstanding payments for less than the amount actually owed to your creditors. The process not only saves you from paying the monthly installments to your creditors, but also reduces your debts by 40% - 60% of the total amount. The debt settlement companies usually deal with the creditors on your behalf. Apart from analyzing the advantages and the disadvantages, choosing the right time to settle your debts is very important.
Bankruptcy: Bankruptcy is filed when the financial position of a person is not stable and he declares his inability to pay his debts. Bankruptcy is of 3 types. In case of Chapter 7, debt is recovered in exchange of property/assets belonging to the debtor. In Chapter 13, known as "reorganization", the debtor proposes a repayment plan. Chapter 11 is basically used for restructuring business debts. In this type of bankruptcy, the business establishments are given an opportunity to reorganize themselves by restructuring their debts. They can get out of contracts and leases that prove to be burdensome. Since this type of bankruptcy is of a complex nature, it is not widely applied for.

Top rated articles to help you lead a debt-free life

7 steps to become debt free: Community suggests 7 steps to repair bad credit in your effort to become debt free. To get out of debt, you need to acknowledge that you are facing financial crisis. Assessing your current financial condition, look for the debts you should clear first. Make a proper budget and do not get into any new debt. Negotiate with your creditors and take professional help if required. Debtors who avail service of a credit counseling company are able to pay off their debts sooner. The reason being, the companies offering debt consolidation services are aware of the manner in which the creditors operate and negotiate. Hence they can guide you better.
Credit card debt consolidation: Consolidate the outstanding balances on your cards into one single loan that has a lower interest rate than the ones you are currently paying. Analyze the interest on your credit card and merge your credit card debts into one.
27 sample letters: A list of 27 sample letters to creditors or collection agencies has been designed. If you can't frame a letter in a correct format you can miss relevant information. Usually the credit bureaus and collection agencies do not accept letters in an improper format.
Avoid bankruptcy: Debt consolidation and various other debt relief programs can minimize the chances of declaring bankruptcy. Declaring that you are bankrupt not only damages your credit score but also causes a lot of mental agony. It is best to treat bankruptcy as a last resort and try out other debt relief programs instead. A credit counseling session can show you the various methods by which you can avoid declaring bankruptcy.
Consumer credit counseling: A consumer credit counseling firm helps you to consolidate your bills by working in close association with a credit counselor. The credit counselor will assist you in working out a monthly payment plan, which guarantees the payment of the minimum debt amount. The credit counseling firm contacts all the creditors and negotiates with them in order to lower the rate of interest. By the time you are done with consumer credit counseling program, you can expect to become debt free. This is because a credit counselor will design a payment schedule for you, which is consistent. A consumer credit counseling program will save your hard earned money in comparison to a debt consolidation loan.
Debt relief: Debt relief is the process by which the existing debts can be stopped or slowed down from taking bigger proportions. Debt relief programs give you result within a very short time period and if followed diligently, these programs of debt relief can free you from debt thereby assisting you to repair your credit score too. Some of the commonly debt relief programs opted for include working out a repayment plan, debt consolidation and debt settlement.
How DebtCC helps you?: Our community provides support to people who are in debt. Free debt counseling, company ranking chart, online debt calculators and budgeting techniques are put up for debt assistance. We are here to share your debt related problems and show you the way to financial freedom. Allow us to assist you in your effort to lead a debt free life.