As a nonprofit organization, The Credit Counseling Foundation provides a FREE confidential consultation to consumers nationwide who are experiencing difficulty in paying their monthly bills.

The term "debt consolidation" is being used and abused by many banks and mortgage brokers in order to sell you a high interest 2nd mortgage or to refinance your home. Remember, going further into debt does not get you out of debt.

Debt consolidation enables you to solve the underlying problems of high debt without taking drastic steps such as declaring bankruptcy or committing yourself to a long-term debt consolidation loan. It is a negotiated agreement between you and your unsecured creditors, whereby:

You agree to:		Your creditors agree to:
Pay, on time, a lower monthly payment you can afford while meeting your other living expenses. Stop using your credit cards or increasing your debt.		Cease some forms of creditor harassment. Reduce the amount of your monthly payments to one you can afford. Eliminate or reduce your high interest rates. STOP late and over limit fees, as well as, other charges.

The process is simplified into one convenient lower monthly payment that you can afford. This one payment satisfies all of your unsecured debt obligation and other living expenses.

Benefits:

• Payments are usually reduced.
• Late and over limit fees are very often eliminated by making regular monthly payments on time.
• Delinquent accounts become re-aged to current status again enabling your credit rating to be saved.