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Debt Consolidation Facts
Important Do-It-Yourself Debt Consolidation Facts You
Before entering into any contract for consolidation of
your debts, you should get as many facts as possible. There are many
online sources for debt consolidation that will charge fees and interest
to help you lower your interest rates. Before you begin working with a
debt consolidation firm, make note of a few important self-help debt
Did you know that it is actually possible to consolidate your debts
without the help of large firms?
At your local library or bookstore, there are books and kits to help you
consolidate your bills yourself. A suggested book on debt consolidation is
Debt Consolidation 101 by Kathleen Marie. Do-it-yourself books and kits
provide systematic steps you can follow to write your creditors and
collection agencies, explaining your situation thoroughly while asking for
leniency. You’ll find all the details pertaining to debt consolidation,
debts, debtors, creditors, collection agencies, and attorneys that will
help guide you through the debt consolidation process. If you are tired of
being harassed by phone calls from creditors, then a do-it-yourself debt
consolidation book or kit is what you need.
Many people are afraid to try to consolidate their debts themselves
because they fear further harassment by their creditors. However, if
you’re currently being harassed by creditors but are making an attempt to
negotiate with the company and are trying to make payments, as long as you
are putting forth an effort to payoff your bills, then the creditors must
leave you alone. In other words, if you've made an effort to repay your
debts, but are not capable of paying the full amount, the creditors are
legally bound to allow you to repay the debts.
If you have called or written your creditors, putting forth the effort to
payoff your debts after negotiation has ended, if those creditors contact
you in any way regarding your debt with them, they are illegally stepping
out of their bounds and you should contact the proper authorities to make
a complaint or file charges against them.
It’s very easy to be lured by the hundreds of online debt consolidation
sources available and jump into a bad situation. You may be able to
negotiate your own consolidation with your creditors yourself. Do your
research and educate yourself on what your options are before signing any
contracts. There are books and kits available to help you, and that could
save you money in the long run. Also, don’t forget the many online sources
that offer free resources and reference information to help you with your
debt consolidation research. Take the first step in the right direction
towards correcting and repairing your credit today.
Sherry Frewerd publishes ‘How to Consolidate Credit Debt’
http://howtoconsolidatecreditdebt.com where you will find the
free debt consolidation and money saving tips you need to make an informed
decision about consolidating your credit debt.
Recommended Frugal Reading
Living On A Dime is known as one of the very best resources of its kind to help you get out of debt without depriving yourself.