| November 30, 2009

Things to consider when looking at debt consolidation

There are multiple options for those dealing with debt problems, one of which includes considering debt consolidation.

However, the Federal Trade Commission notes that consumers should keep in mind there are some dangers associated with certain types of debt consolidation. The FTC notes that some forms of debt consolidation come through taking a second mortgage or a line of credit based on the equity a person has in their home.

“If you can’t make the payments – or if your payments are late – you could lose your home,” the FTC stated.

Furthermore, people may have to pay additional fees through a debt consolidation associated with their home. Some loans may require a person pay an additional amount to what they’ve been loaned through a “points” system, where one point equals one percent of what they owe.

Still, the FTC notes that this type of debt consolidation does have certain benefits, including providing certain tax advantages.

Along with debt consolidation, there are other options consumers may consider for dealing with debt problems. For example, some may visit a credit counseling service, which can give them advice on the best way to get out of debt.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

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