Is There Any Such Thing As Free Debt Consolidation?


Visitors: 126

Free debt consolidation - yeah right! The fact is, nothing in life is free, which is exactly why you should be dubious of any advertisements that claim to offer “free" debt consolidation. In most instances, you can get a free quote or else a first-time counseling session. And in most instances, the first-time counseling session is to lure you into the company's agreement.

Debt consolidation is a procedure that can take years to hash out. In most case, people with bad credit or current debt problems often believe there is no way out. They may go online and find a source that will help reduce their debts, believing that the amount of their debts is lower.

Since few companies will lead many to believe this is true, it is important that you know that the debt consolidation companies are only reducing your rates of interest.

If you own a home and want to use the equity to refinance, you may want to understand that a good number of the Home Equity Loans will actually land you deeper in debt. Once you are bound to the contract, you will find the complications are more frustrating than when you first applied for the loan.

I brought this up because many homeowners will refinance their homes without looking into the details first, believing they are consolidating their bills.

They may feel they are getting something free, since the amount on the mortgage appears reduced. However, if you take out a loan to consolidate your mortgage, you are only stepping into another debt.

Be advised that some mortgage contracts stipulate that if you refinance your home during the contract agreement, you may face penalties, which may include paying off your first home, your second home, and the interest rates included.

Therefore, if you are considering debt consolidation, consider the entire picture first-and don't ever fall for the bogus claim that any debt consolidation will actually be free.

Milo Lawrence is the owner of . Helping others understand the fundamentals of making money online and earn autopilot profits. Learn more from Milo's blog and review site at


Article Source:

Rate this Article: 
Credit Card Debt Consolidation Program - Pay Off Your Bills And Become Debt Free
Rated 4 / 5
based on 5 votes

Related Articles:

Debt Consolidation Advice - Where to Find a Free Debt Consolidation Quote

by: Juzaily Ramli (April 11, 2007) 

Free Online Debt Consolidation Quote – Get Free Estimates For Debt Solutions

by: Apurva Shree (April 03, 2007) 

How a Debt Consolidation Loan Can Be Too Much of a Good Thing

by: Bernard Johnson (February 15, 2007) 

Free Debt Consolidation - Your Opportunity To Rebuild Your Credit And Become ..

by: Apurva Shree (April 17, 2007) 

Get A Free Online Debt Consolidation Quote For A Debt Free Tomorrow

by: Apurva Shree (May 18, 2007) 

Online Debt Consolidation - A Stress-Free Way To A Debt-Free Life

by: Asheesh Mani (December 06, 2007) 
(Finance/Debt Consolidation)

Debt Debt Free Retirement a Thing of the Past?

by: Liam Gerken (July 09, 2008) 
(Finance/Debt Relief)

Debt Consolidation Loans - Be Debt Free To Get Stress Free

by: Smith Will (February 15, 2008) 
(Finance/Debt Consolidation)

Debt Consolidation Help Transform From Debt Ridden to Debt Free

by: Harley Rolland (July 14, 2008) 
(Finance/Debt Consolidation)

Credit Card Debt Consolidation Program - Pay Off Your Bills And Become Debt Free

by: Saurabh K Jain (December 15, 2007) 
(Finance/Debt Consolidation)