What Do I Need To Qualify With A Debt Consolidation Agency?

Dec. 11, 2009 - PRLog -- The release from the vicious cycle of robbing Peter to pay Paul will not only dig a deeper hole of debt, but also keep the consumer in debt for years to come.

Hector Milla Editor of the "Best Debt Consolidation Companies" website -- http://www.BestDebtConsolidationCompanies.net -- pointed out;

“… Debt consolidation agencies have helped millions get out of debt, reduce the amount that they owe and restore their accounts to good standing. Armed with this information it is now time to do something about all those late fees, outstanding balances, and collection accounts as well as those embarrassing phone calls to work!…”

How Do I Qualify For Debt Consolidation

Most agencies have requirements based on the amount of debt, repayment ability as well as a few other factors. While each agency has different requirements there are a few guidelines that can be kept in mind. The debt load should at least be more than a couple thousand dollars of unsecured debt, and not debt that cannot be reduced, such as Federal Student loans.

“… Again, there are different requirements, as some of the agencies set their minimum as high as $10,000 in unsecured debt, so for a consumer it greatly depends on the individual’s financial situation…” H. Milla added.

What About A Credit Check

Most debt consolidation agencies do not run a credit check on their clients. If that were the case, most would not be able to enter the program, because of their financial hardship. These agencies are there to help consumers, not hinder! What they do require is a way to engage in a repayment plan, through steady employment or another source of income. Without a job or other money flow source, the company would not be able to negotiate with creditors or set up an effective repayment plan.

Further information about trusted and reputable companies for debt consolidation by visiting; http://www.BestDebtConsolidationCompanies.net