If you can consolidate your debts, then you can begin to plan a future that is free from money stresses. Debt consolidation is the process that reduces, and then eventually eliminates, your debts. It helps when you have the right debt advice from a professional that is trained to do so. There are several different types of consolidation that you can choose from such as home equity lines of credit, home equity loans, personal loans, consolidation loans, and personal unsecured lines of credit. All of these methods will require some debt advice from a professional in the field.

Bankruptcy is another option that you have on hand but it is one that should be avoided if at all possible, since it remains on your credit record for up to ten years. It is important that you understand these potential problems before you even consider filing for bankruptcy. You may be refused many things due to bankruptcy and even some apartments if you’re not careful so think about bankruptcy before you try it. It is not an easy solution to debt problems.

If you decide not to go the bankruptcy route, you have a few other valid options that can greatly help reduce your debts and make it easier for you to pay them off within a relatively small amount of time. Many people seek out the help of credit counseling agencies that can help negotiate with your creditors on your behalf to come up with a payment plan that is acceptable to both parties. This is great debt advice coupled with actions to back it up. If you consolidate debts through an agency, you will be responsible for paying them a lump sum every month, and then they will dole out payments to your creditors as agreed upon.

Need more help? Why not contact one of our Christian counselors using the form on the right for some free debt advice. They will help you to get out of debt and lower your payments today.