Consumers all over the world end up in debt and look for means to get out of it. Paying credit card balances can be practically impossible, with their high interest rates and late charges. This is where debt consolidation help comes in to help pay off your debts and restore your credit rating.

Many people believe that debt consolidation is a loan. However, debt consolidation only provides help in lowering your monthly bills and allowing you to pay off your outstanding bills that have fallen behind due to outrageous interest rates and fees. They contact your creditors to lower your interest rates and monthly payments. You are then informed of the new interest rates and fees the creditor has accepted. All you have to do is make one payment to the debt consolidation company, which distributes the appropriate amounts to your creditors. You may also make the debt consolidation company contact your creditors and make arrangements, and pay a fee for this service. Then you make the payments to the creditors by yourself, but at a much lower rate.

Most creditors are usually willing to work with debt consolidation companies. This is because they know that if they don