Loan Consolidation

There are many credit counseling organizations but there are a few guidelines to finding them.

Make sure they are accredited by the NFCC (National Foundation for Credit Counseling) or recognized by the Consumer Credit Counseling Service.
Ask- Are they non profit
Make sure all processing fees are made known.
Are service fees low enough to keep from adding to your initial debt?
Do they belong to the Better Business Bureau?
Are contracts easy to understand ?

Remember debt management plans involve restructuring your current debt with existing creditors. Money is not loaned, and creditors do not change --- but the terms and conditions under which the existing debt can be repaid changes significantly. In debt management plans, your debt counselor will contact your unsecured creditors to notify them that you have enrolled in their debt management program and they will arrange for the terms and benefits typical within their program. Typically the benefits include; the lowest monthly payments and lowest interest rates possible, stopping late fees and other punitive charges, and re-aging accounts to bring them current. Then the debt counselors consolidate those debts into one monthly payment and disburse that payment to your creditors for you each month.