Some consumers may hire debt consolidation companies.  However, there is a high rate of dissatisfaction.   Here are some common problems.

 1. Does the contract square with the promises.

A company may suggest that your debts will be paid but the contract does not obligate them to do that.  Broad promises of credit repair may be difficult to confirm.

 2. What happens with your monthly payments 

Are the payments going directly towards the debt, how would you know or confirm that.

3. Debt validation or consolidation

The Fair Debt Collection Practices Act has a provision for debt validation.  Years or decades ago, perhaps some companies would relinquish claims without documentation.  Now many companies will be able to verify claims, continue without believing the legal liability will be minimal, or sell questionable claims to third parties.

We can provide you with a free consolidation to review your debt consolidation program.