How do you think consolidating companies make money?

You think they make money by paying off your loans and then charging you less interest than you would have paid?

All they basically do is lend you money then let you pay it back over a longer period - Your monthly payments might be less than with ccards, but by the time you have paid off the consolidated debt you will have paid a lot more in interest

Best thing you can do is try to get a single loan from your bank to pay off the ccard debts - cost they are the cheapest loans you can get -

Do it yourself. Try to get a personal loan, stretch out for 5 or 6 years to pay it off. If your credit sucks just file bankruptcy, it can’t get any worse.

Yourself; or your parents if they trust you.

Just get busy paying it down, forget consolidating.

CONsolidation loans only CON you into believing you have done more than change WHO you owe the money. It ONLY real answer is to PAY OFF the debt.

There are no such companies.

There are banks.

A debt consolidation loan is just an unsecured personal loan from a bank. However, as they are unsecured, they are very tough to get. In other words, unless you have near perfect credit or assets to pledge like investments or home equity, you won t get one.