A struggling economy and high rate of job loss combine to leave many people trying to rescue their finances through debt consolidation. As of March 2010, the average credit card debt per household with credit card debt was $15,788.
Better Business Bureau Affiliation
Credit consolidation companies registered with the Better Business Bureau (BBB) and in good standing will usually have the BBB logo present on their website. This can be an important distinction among providers.
Services Offered
This is the most critical aspect of evaluating providers. Each consolidation company should offer extensive information on what types of programs they offer. Compare services.
Education
If there is a lot of helpful educational information regarding repairing credit on a company's website, that is a good sign.
Payment Plans
Some websites allow you to enter in your total debt burden and get an approximate payback amount and time frame. Make note of, and compare, these amounts between companies.
Customer Service
Make an effort to communicate with a customer service representative or credit counselor online. If it takes them a few days to get back to you via Internet, they may be a swamped company overall and might not give much regard to your finances as a future customer.
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