Not everyone is comfortable with the idea of debt consolidation help. There are many who are confident of handling their debts themselves. What they forget is that debt has a nasty habit of multiplying on its own. It becomes very difficult to come out of it once you get sucked into debt.
Also, there is the danger of your debt consolidation efforts backfiring. A counselor, on the other hand, can examine your debt situation and suggest a sound debt consolidation plan. It is not that you can’t make such a plan yourself. But then you do not know how to go about it whereas a counselor has done this hundreds of time. He is familiar with debt consolidation processes and institutions that provide debt consolidation funding.
The counselor ensures that there are no hiccups on the way and the debt consolidation process proceeds smoothly. The counselor also speaks to your creditors and tries to obtain better interest rates, and an easier repayment plan. This is something that you may not be very comfortable doing yourself. For the counselor it is a routine matter.
However, you need to be careful while hiring a counselor. There are scores of individuals and organizations that do debt consolidation work. Some of them are not trustworthy, and can become a source of further problems for you.
You therefore need to check the background of debt consolidation agencies. Don’t entrust your problem to a non-accredited agency. Also, visit the local Better Business Bureau to find out if there are any complaints against the debt consolidation agencies short listed by you. Another useful source of information is online forums. You will find a lot of useful advice over there. You can even place a query, and expect honest replies from people you have never met but who have gone through your situation.
Another place where you can get useful advice is banks. There are several banks and financial institutions that have employed experts to guide borrowers about debt consolidation options. You can always trust these experts because they are answerable to their bank managements if they misguide or mislead you.
The debt consolidation counselors also speak to the creditors and get the debt collectors off your back. This, in itself, is a major relief because no one likes to get nasty calls or unpleasant visits. So, don’t hesitate in taking help. You will find that it makes life easier for you.