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Debt consolidation companies do not eliminate debt. Do not confuse this with debt settlement. Consolidation companies simply merge all of your debts together into one payment a month that you make to them and sometimes lower interest rates.

Debt settlement companies, however, negotiate directly with your creditors/collection agencies to settle debts for a lower, agreed upon, lump sum. This in turn gets you out of debt quicker.

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Q: How do debt consolidators eliminate debt?
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Related questions

Who is the best consolidators in Australia?

Mozo and Debt Busters are one of the best consolidators in Australia.


Are debt consolidation calculators found online?

Yes you can find debt consolidators on the internet. Simply search for debt consolidators and you should be able to find a few different ones you can chose from.


What are the most popular debt consolidators in the United States?

"The three most popular debt consolidators in the U.S. would be ""Accredited Debt Relief"", ""Eagle One"", and ""National Relief"" (in descending order of popularity)."


What are the release dates for Big Town - 1950 Debt Consolidators 6-15?

Big Town - 1950 Debt Consolidators 6-15 was released on: USA: 17 January 1956


What kinds of debt consolidation loans will help me pay off my debt?

There are many debt consolidators out there, but beware of most of them. If you are having to owe money to them in the long run, it is not helping you get out of debt. Your best bet would be to schedule a meeting with your bank and see what they have to offer. They would be more reliable than debt consolidators.


Where can I call to get debt counseling?

Everyone has an issue with debt sometime or another. There are many places to speak with a debt counselor. Most debt consolidators will offer you to speak with a counselor.


Can I receive counsel for resolving my debt?

There are many companies who can help with debt. Most attorneys handle bankrupty but are not debt consolidators so if you are not declaring bankruptcy it is better to try to a debt consolidation company.


Who is the best debt consolidators?

Your personal bank or credit union would offer the best debt consolidation program. They are likely to work with you, and they may have lower interest rates.


What is the advantage of consolidation company?

Well, the main advantage of debt consolidation company is that it can help you reduce your debt as you will get the lower interest rates. Besides, after your debt is consolidated, you will have to make only one monthly payment instead of multiple. Moreover, your credit score will be improved as debt consolidators will repay the whole amount of your debt at once.


Ways to eliminate debt?

pay it off


Can you file bankruptcy against a divorce order in North Carolina?

Whether you can eliminate a debt that resulted from a divorce decree will depend on the type of debt. If you owe child support or alimony from a divorce then you will not be able to eliminate the debt in bankruptcy. If the divorce assigned some debt to you as part of the divorce and it was not assigned as child support or alimony then you may be able to eliminate the debt in a Chapter 13 bankruptcy. Chapter 13 bankruptcy allows you to eliminate debt assigned to you that is in the nature of a property settlement and not child support or alimony.


Ways to reduce or eliminate debt?

You can make a budget