Some creditors will consider your debt as paid off if you can give

Some creditors will consider your debt as paid off if you can give them enough cash to cover 70% of what you owe them. Contact your different creditors to see if they are interested in this kind of payment arrangement. Try gathering as much cash as possible so you can make a reasonable offer to your creditors.

Find out what debt consolidation means for your credit score. Call the majoor credit scoring companies and ask them whether you will suffer for joining up with a debt consolidation company. This is impoortant, since the companies themselves will give you different stories about what the case is with credit scoring.

After you've consolidated your debt, consider what credit cards you don't need. Remember what got you here in the first place. Do you need all of that credit? Do you feel the itch to use it? Don't fall back into bad habits. Get rid of any cards that are unnecessary.

There are three types of debt consolidation available to most debtors. The first is a second mortgage or home equity line of credit. The second is a credit card or line of credit which pays off the debts and then has to be reimbursed. The last is a loan from a loved one.