I was reading How It Works on the Debt Free 24, a credit consolidation website. If you are interested, just complete the online forms and a customer service rep will contact you about your debt and current money flow and needs. If you come to an agreement, Debt Free 24 will contact your creditors and negotiate lower interest rates on your debt. Some credit card companies will also roll back penalties and clear your credit as long as you stay current.
Once all the creditors are working to help you repair your debt, you will be given one monthly payment to send to Debt Free 24. They will pay your bills. In most cases, the payment is lower than what you are now paying for all your bills. You are also repairing your credit and reducing your debt.
I am sure you are also paying a fee to Debt Free 24 as well. However, using this type of debt management program can help you reduce the time it takes to pay off your current outstanding debts! Paying less interest will mean your debt will re reduced at a faster rate.
Make sure you understand all the ins and outs of the services provided by debt consolidation firms before you sign any contract. However, I know three different people who went from paying 27+ percent interest rate on their credit cards to paying 8 percent. If you are disciplined and do not start the circle of indebtedness again, you can be debt free.
I wish you all the success.