I Need a Legitimate Company to Consolidate My Debt

Question:

Dear Steve,

I am looking for help to consolidate my debt. I have looked for a company that could help, but because my credit score is now low, I don’t qualify.

Do you know of a legit company that could possibly help me?

Annie

Answer:

Dear Annie,

Typically no reasonable lender would be interested in making an affordable debt consolidation loan to someone in an unreasonable financial situation.

There is no shortage of entities that will make expensive subprime loans to people in dire circumstances.

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But we need to deal with what debt consolidation means to you. There are many ways the term is used. Some people use it to refer to credit counseling, others use it for debt settlement, and some use it for a loan.

An argument could be made that bankruptcy is a form of debt consolidation since it organizes your debts into one or more buckets and eliminates them.

I think your question sounds a lot like this past question I answered. Before you or anyone else can determine what tool is the most appropriate to use in your situation, you must have some clarity about the situation.

As I said in that previous post, “Ultimately, I think what you want is the right solution for your financial situation. That sounds like what most people are searching for. But people not experienced in dealing with financial and debt problems don’t know what they don’t know.

Saying you want to find a good debt consolidation company is like holding a hammer and looking for a place to use it.”

You might want to contact Damon Day or Michael Bovee and have a free conversation about your specific situation to know what the best approach will be to resolving your money issues.

Sincerely,

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.