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Be Wary When Approaching Debt Consolidation Companies?

Updated: 9/16/2019
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13y ago

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Debt consolidation can be a great way to get a handle on an out of control bill situation, but only if you approach offers with care. Many debt consolidation companies can help you get control of debt but do so at the expense of your credit rating and without the permission of your primary debtors.

Look for debt consolidation loans that allow you to negotiate directly with creditors or offer to provide proof in writing of any negotiation that happens on your behalf. Get everything in writing, and make sure you know how it will change your credit before you proceed.

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