Bad Credit Debt Consolidation?

Most debt consolidation companies are not worth the fees that they’re going to charge you. And if you have the money to pay these fees, you have the money to make the monthly payments on your credit cards. These companies will tell you not to make payments to the companies for a couple of months and then they will try to negotiate with the companies for lower rates/payments on your behalf. Basically, nothing you can’t do on your own. Credit card companies aren’t going to negotiate with you for a payoff until your several months behind.

Some people will suggest trying to get a debt consolidation loan (wich you probably won’t qualify for with a poor credit score) or even a home equity loan. However, if you haven’t addressed the bigger problem (debt isn’t the problem, it’s the symptom of a problem) you’ll eventually find yourself right back in the situation you’re currently in.

Spend less than you make. Pay cash for everything.

Start with your bank. If you need to look elsewhere, try a site with a bunch of companies like

http://best-loans.ws/debt_consolidation_loans.html

and compare interest rates and other costs.