Debt consolidation is simply a new LOAN, trading one debt for another. The major problem is that when a debt consolidation loan is put into effect, the debt must be secured. This means that you must provide a lien on your house, automobile, boat or other asset. The last thing you want to do is change your unsecured debt to a secured debt which puts your assets in jeopardy.

Another problem with debt consolidation is that your credit card debt will be paid, making the cards available for you to make purchases. It takes a very strong person not to be tempted to use those cards, especially in times of hardship.

As with Consumer Credit Counseling,debt consolidation requires that you pay 100% of your debt, but interest charges will be spread over along period, sometimes as much as thirty years.

Melucci, Thomas & Brown negotiates REDUCTIONS of the amounts you owe so that you can work towards becoming DEBT FREE. Call us for a free telephone consultation.