Debt Consolidation Etc Services

At Debt Consolidation Etc, we offer two different services to accommodate the diverse needs of our customers. We'll explain more about the two services here to help you decide which is right for you.

Debt Consolidation Program

As explained earlier, our debt consolidation program combines your debts into one monthly payment with reduced interest rates. The consolidation program does not hurt your credit, but it does require you to cancel any credit cards you include in your consolidation. Debt Consolidation Etc recommends our regular consolidation program to customers who:

• Have between $5,000-$20,000 in unsecured debt
• Are making payments on time
• Have many different creditors
• Want the convenience of combining debts into one payment
• Want to reduce the high interest rates of their debts
• Have not consolidated debts before

Debt Negotiation Program

Debt Consolidation Etc also offers a debt negotiation program, also referred to as debt settlement. This program is the more intensive intervention of the two services we offer. Debt negotiation requires you to stop paying your creditors for a time while Debt Consolidation Etc negotiates with your creditors to reduce the total amount of your debt. During this negotiation period, we will have you make deposits into a holding account we set up for you or have you deposit the money in your own account. On average, we reduce our debt negotiation customers' debts by 50%. That means that you will pay only half of the total amount you owe. Once we have reached an agreement with your creditors, you will take the money you have accrued in your holding account to make one, lump-sum payment to your creditors. Debt Consolidation Etc recommends debt negotiation for customers who:

• Have over $20,000 in unsecured debt
• Are in danger of bankruptcy
• Have dropped out of a debt consolidation program
• Are seriously delinquent on payments (three months or more)
• Are aware that debt negotiation will have an initially negative impact on their credit

If you have any questions, please visit our FAQ page.