If you don’t think that unsecured debt consolidation loans are going to be right for you

If you don’t think that unsecured debt consolidation loans are going to be right for you, another option may be a credit counseling agency. While they don’t consolidate your debt like a loan will, they will often be able to work out lower payments and interest rates for many of your debts. You will make one payment to the credit agency, who will, in turn, pay your debts for you. They won’t hurt your credit, but you will want to research well before you using a credit counseling agency to insure that they will pay your bills on time. If they are late, it will show up that you are late and then hurt your credit or debt further.
Another alternative to unsecured debt consolidation loans are debt negotiation companies. What these companies do is have you stop paying your bills and make a single monthly payment to the company. As each of your debts falls behind, your creditors contact the company rather than you. The company then settles your debt balances for less than what is due. These companies can get you out of debt much faster in many cases, but they also hurt your credit in the short term and sometimes long term if you don’t get on with the right company.