What is the best debt consolidation loan company?

My credit is not that good its actually poor. I am only $20,000 in debt but would like to consolidate both my credit cards and car payment. I would like to have a reputable company and one that creditable also. Thank you

What is the best debt consolidation loan company?
None, they all screw you over.
Reply:I did debt consolidation through a company called "Care one Credit" you can find them on the web.





I will warn you though, it's not all they say it is, and it will actually make your credit MUCH worse, because what I was told by several people that I had analyze my credit report, is that it looks worse than a bankruptcy.





I suggest staying away from ALL of these companies, but Care One Credit were pretty nice.





The biggest problem is that they "negotiate" lower interest, but that doesn't mean your creditors have to comply, so you may spend years making a payment to a credit card, or creditor and you will never know that you are making less than the minimum payment, so your balance never goes down, and your credit gets worse.





It's not bad if you are really in a bad spot, but be careful and keep track of everything so if they (ANY company) don't do their part like they say, you can talk to them and your creditors to make sure your debt is actually being taken care of!





Good luck
Reply:http://www.nfcc.org/AboutUs/aboutus_01.h...


Check this site to find one in your area. These are legitimate, licensed, non-profit, credit counseling services with nationwide offices.
Reply:Keep well away from debt consolidation companies! They reduce your monthly payments by increasing your term thus increasing the total debt AND charge you heavily for the privilege.





Oh, and by the way they usually add their charge to the total bill which means you pay interest on their charges as well!
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My suggestion is trying to obsord as much information as you can before making up your mind,here http://www.DebtFreetips.info/debt-free.h... is a good one.



Reply:Stay away from those unless you are able to make the minimum monthly payments from them. I signed up for Care one and they are planning to drop me from the program because I failed to make a payment. Best best is to call every creditor and try to lower the interest rate or try to ask for a higher credit limit and transfer balances.