It is very important to find the right debt consolidation service for your financial situation. If you want to use an online service, you must find a reputable online consolidation company. Whether they are online or not, debt consolidation services can hurt your credit. If you want to get rid of your debt but want to keep your good credit score, you should find a different way to deal with your debt. Your good credit score could give you access to better options with less impact on your credit.
Before you start looking for an online consolidation service, you should think about the Bank of America Card Holders of America Debt Zapper programme. They will make a plan to help you pay off your debt as quickly as possible based on how much money you have and how you spend it. The service is affordable, costing as little as $15. It's hard to find a great programme and service like this that costs so little. If anything, it might be worth your money to get the plan they make for you, try to follow it, and see if you can avoid debt consolidation altogether.
It is very important to check if an online debt consolidation company is licenced when comparing them. Many online companies that help with debt consolidation are not licenced. In some states, like Maryland, online debt consolidation companies don't have to be licenced. Avoid companies that have a mailing address in a state that doesn't need a licence. But some states do have licenced financial and debt counsellors, which makes it easy for licenced credit counsellors to work for online debt consolidation companies.
Consumer Credit Counseling is the best service for combining debts that you can do online. As was already said, using debt consolidation services can hurt your credit score. Consumer Credit Counseling will hurt your credit score the least. Their website has free information, tips, and access to debt counselling and maybe even tips on how to fix your credit. Also, they offer services outside of the internet. They have offices in your area so you can get better service and work with them in person if you want to.
You can get information about online debt consolidation companies from the Better Business Bureau. Check with the Bureau to see if they are in good standing or if they have a history of complaints. If you don't find out as much as you can about an online debt consolidation company, you might regret it and end up in a worse situation. Spending a little time now could save you time and trouble later.
