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There are a few routes one can take to consolidate debt, depending on the type, amount and status of the debt. One route may be a home mortgage refinance, in which case one should consult with lenders to find out what programs and rates are available. Another option is to use a consumer debt consolidation service such as Consumer Credit Counseling, which negotiates with creditors to reduce interest and monthly payments. Be sure to research all such programs thoroughly, as some have been found to be scams. In the US, Federal student loans can be consolidated through a list of agencies available on the Department of Education's website.

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Q: Who should a person talk to when needing debt consolidation advice?
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Getting Free Debt Consolidation?

When a person realizes he or she is in financial trouble, one of the first steps to take is consolidating one's debts. By consolidating one's debts, any person can get a true handle on his or her financial situation. There are plenty of ways that people can get free debt consolidation. One great way to get free debt consolidation is by getting help from a friend that is a financial advisor. Also, many financial advisors offer pro bono services that can provide a person with free debt consolidation. A person should always research all of these options for getting free debt consolidation.


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Debt consolidation loans enable an individual to pay off their debts more quickly. If this is warranted, it should be done as quickly as possible to avoid accumulation of interest.


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Debt consolidation loans can be a smart option for any person that is severely in debt. Many people have gotten into thousands of dollars worth of debt due to the current economy. Unfortunately, people feel they have no way out of this debt. Yet, debt consolidation gives people a great way out from debt. A person should also consider taking out debt consolidation loans if one needs a starting place for getting out of debt. After taking out these sorts of loans, then a person will be able to put money toward credit cards that may have incredibly high balances.


When does one realisize they should get on some loan consolidation programs?

You should get on a loan consolidation program if you realize that your loans and credit are more than you can afford to pay individually. These programs can consolidate them into one monthly payment.


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