Is there a one-stop place to get the best advice?

What is the Best Debt Consolidation Company That Isn't a Scam?

by Steve Rhode

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I have $69,000 in debt (two credit cards, one loan, and one car payment). My monthly payments total $2,088.

I would like to consolidate this debt into one easy loan payment because I feel it will be easier to manage and possibly save me on the interest I'm piling up on these credit cards.

Searching for debt consolidation on the internet is impossible. Every company wants you to provide your personal phone number to contact you directly. I know most are a scam and most work on commission.

Can you recommend the top reputable debt consolidation program or direct me on how to research and review online independently without having to be contacted by all of these predatory companies?

Dear Walter,
It's funny how such a simple question can have such a complex answer.

Your request is quite clear and one that many want to know. The reality is that there is no such thing as a one-stop place to contact that will give you best advice based on your situation.

You are searching for some type of debt consolidation, but there are many variations. There is a straight debt consolidation loan, credit counseling that purports to consolidate your debt, and debt settlement that says it is debt consolidation sometimes.

People in those different camps rarely talk to each other or evaluate you based on matching you, your situation and your goals with the "best" solution. Generally their advice is going to be based on what they can sell you that's best for you.

At the top of the "debt consolidation" ladder are the highly licensed and regulated debt consolidation lenders like and These peer-to-peer lending networks do make straight out unsecured debt consolidation loans. If simply consolidating your debt is your goal and you want to avoid any negative credit impact, then that's the first stop on your research trip.

To compare the pros and cons of the other options, use the free How to Get Out of Debt Calculator to review your options.

And to make sure you are dealing with a reputable company, read "How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off."

Does that sound like a reasonable approach?

Steve Rhode

Steve Rhode is an experienced debt expert who assist consumers for free to find good solutions for bad debt. He sells no products or services, just provides free assistance through his site at

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