Are debt consolidation agencies a good idea?

Question

I have found myself in a situation after my divorce that i cannot get a grip on. I have credit card debt, not much, but cannot handle the basic payment because i moved in my dads house to help him out, he is 73 years old, he fell ill, so he could not work now i find myself paying his bills, handling his rent and basic necessities, but now i have $3000-$4000 in debt, $2000 is already in collections. I am a single mother and i was thinking about turning to a debt consolidation agency. Is this a good thing to do?

Answer 1

Years and years ago, I went through something like this....I went through a debt management program and a man called all my creditors that I listed and tried to get them to lower their rates of interest....most did as they wanted their money.....I then had to cut all my cards and put them in a large glass bowl he had there with others that were cut up....he did all the work really.....I then just paid the debt management agency one payment a month and it went toward my credit cards/loans.....they do all the sorting as to where and who it went to.....I liked it as it was in town and well known and reliable.....It also helped as no creditor ever called as I was paying off just in a different way. Can they call you at work? Sorry about that....I'd go nutty.....I'm not sure how it all worked, but I just did my part and they did theirs......instead of paying 6 different payments, it was just 1......took years to pay off, but have great credit now......just stay local and not over TV or buy into any of that.....this was a Catholic Charity place, but they take anyone and hold meetings on debt management and debt consolidation.....good luck and hope something I said helped...it's heck to be in debt.........
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Answer 2

Debt consolidation can help you to relief debt to control over your debt your debt – this is actually  lowering your existing debt rates, getting a better way to pay loan , or splitting your payments to get debt paid faster and easier. You have to be vary careful to select a debt consolidation agencies.

You may get some information and articles about debt consolidation from nfo.atspace.com