Consolidating your debt leaves you with a single

Consolidating your debt leaves you with a single, affordable payment every month. A payment plan of five years is typically what people go for, but other terms can be considered, too. This gives you a specific goal to focus on, and a set payoff time.

If you are going through debt consolidation, you really need to work with a debt settlement professional. These professionals will help you pay off your debt in a more timely manner as opposed to enrolling you in a debt management plan or filing for bankruptcy. They will help you preserve any credit that you have and start to rebuild any you lost.

When working on a debt management plan during debt consolidation, you need to make sure that you bring all of your accounts current. Aging debt needs to be wrapped up into any current debt. If you have any old student loans or debt that is over 4 years old without a payment, get it all consolidated into the new plan.