Phoenix, AZ -- (SBWire) -- 07/17/2013 --Many adults have heard of debt consolidation as a solution to a heavy debt load, but most aren’t sure where to look for it. That’s why Credit-yogi.com is here, offering its input on this subject, such as:

- Understanding Debt Consolidation
- When to Hire Assistance
- How Debt Management can Help
- Non-Profit Debt Merging Companies

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Clarifying Debt Consolidation
A basic debt solution services will help an individual gather his debts together, after which it will lend him enough to cover them. This is generally a low-interest loan which gives the borrower a single payment each month instead of several separate ones. The lender makes sure that each of the debtor’s creditors is paid each month, taking that burden off of him. The companies to which money is owed soon become paid in full and the client only has to repay the consolidation loan.

Time to Hire a Company
When a person cannot afford to make his debt payments in full and on time every month, it’s time to devise a debt consolidation solution to his problem. If he’s “borrowing” money from one creditor’s payment to share with another creditor, it’s time for some professional guidance. Some consolidation companies also offer credit counseling or fiscal education seminars to help their clients learn how to manage their money more effectively. All of this comes at a cost, which is usually incorporated into the consolidation loan.

Debt Management vs. Consolidation
Periodically, a debt solution services also offers debt management assistance. The goal is to get the recent debts paid off as quickly as possible and with the best terms available. Be careful to watch for “red flags” that indicate such a service is not reputable, one of which is if it has unresolved complaints lodged with the Better Business Bureau. Another is if a representative of the company instructs one to cease making payments to his creditors in order to “save up” money for a settlement offer.

Non-Profit Consolidation Companies
While a non-profit debt consolidation solution offers some of the same things for-profit services have, they do it at a much lower price. The idea behind a non-profit business of any sort is that it’s there to help those who are in dire financial straits, not to put more pressure on them by charging exorbitant fees for their services. They supply free credit counseling given by well-trained, knowledgeable counselors, and they also have debt merging programs that cost less. Look into these online for more information.

About Credit-Yogi
Credit-yogi.com is a cost-free consumer resource website whose mission is to give quick, correct responses to the fiscal inquiries of those who utilize it. Available all day, every day, well-informed personnel is always ready to help one out. Dial 866-964-9644 for a free initial consultation.