Debt Management Companies

Debt management such as Consumer Credit Counseling Service help get debtors out of debt by consolidating debt and getting lower interest rates. Dave says that they hammer your credit rating by hammering your credit rating the same as if you had filed a Chapter 13 bankruptcy. While people may not be able to get home loans by going through this program as he claims (I do not know about this) I do know that people were able to obtain car loans as well as new credit cards after going through this program.

Sometimes a person just needs outside intervention. Being able to make just one payment a month can get that past that psychological block of keeping track of many payments each month to multiple creditors.