Category Archives: Credit Counseling

Let Credit Counseling Take The Stress Away

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You often see the ads for credit counseling during the commercial breaks, and you might think you are too far in debt to bother with such a service. However, if you take the time to discover the benefits of having an independent counselor review your debt situation, you would be better off for it. Debt counseling is not for people whose debt situation is beyond repair. In that case you make want to talk with a bankruptcy trustee. But if you have moderate debt, you may want to take the time and visit one of these credit counselors in your local area.

Credit counselors act as a go-between you and your creditors. They negotiate with your creditors to allow you reduce your monthly payments. Sometimes, depending on your situation, and how you manage your credit, they could arrange to have some fees reduced or removed. But their main task is working out a manageable repayment plan that both you and your creditors can live with. Creditors don’t like to accept reduced payments, but they much prefer to have a reduced amount than to have you skip town owing the full amount of your debt. Your creditors will work with the credit counseling agency to secure their money, and give you some breathing room.

However, once you decide to seek counseling for your debt, you would need to consider several factors before deciding on the right credit counseling service. Pay attention to these four points as you narrow your search for helpful advice:

It is important the firm have qualified employees who have enough financial training to help you. They don’t have to be accountants, but must have the basic education in credit counseling.

Is the agency accredited? It takes money to have your firm accredited by most standard setting bodies, so some firms shy away from such accreditation. On the other hand, some firms hide their shady dealings behind the same standard setting bodies. And it is sometimes difficult to tell who is legitimate. So start with the accredited agencies, but check them out before you decide to choose one. However, keep in mind that many of the agencies listed are nonprofit bodies.

The Fees that they charge. Any of the better credit counseling services will only charge their clients a small but reasonable monthly fee around $30 for the use of their services. However, you may find that some also charge an up-front fee around $50.

Application to a Credit Counseling Service. When applying for the services for credit counseling the company should clearly state what their fees are, what are the services they provide, and how long it takes them to work on your application.

You should have these four points in your mind before you begin working with a reputable credit counseling agency. Once the application phase is over, you should be well on your way to

managing your debt. This means, you can reduce the stress that comes with carrying a heavy debt load.



By: Antonio Silver

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Get the latest in credit counseling know how from the only true source at http://www.debtexpire.com. Check out our credit counseling pages.



Consumer Credit Counseling – 7 Tips You Should Know Before You Sign Up!

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If you’re thinking about getting some outside help by way of credit counselors and don’t know anything about them, the following tips may help you understand what consumer credit counseling services are all about and what to beware. Basically, counselors can help you get control of your money flow – incoming and outgoing.

1. Credit counseling services can be for-profit or nonprofit. Both types charges fees, however there are some nonprofits that offer free counseling, see tip #3.

2. Credit counselors may or may not be certified. If possible use a certified counselor. You may be more limited in your choice of the type of counselor if you choose a nonprofit but they may have enough necessary experience to help you with your debt management or any debt consolidation.

3. Although nonprofit consumer credit counseling services are nonprofit they are not always free. And some may not be affordable. Some may want you to make donations that will add to your overall debt problems.

4. For-profit credit counseling services may charge high or excessive fees. Some of these fees may not be obvious so read any contracts carefully.

5. Credit counselors can help with a wide range of budget and credit problems. The can help you plan a budget, help educate you and provide helpful credit resources. They can help with car or home loan or mortgage applications. They can help with credit card consolidation or consolidation of other bad debts or debt consolidation.

6. Nonprofit consumer credit counseling services are found at colleges and universities, at your local credit unions, on military bases or installations or through your local community resources hotline.

7. If you’re unable to find a nonprofit counseling service then talk to your local bank or lending institution and ask for a recommendation. Or get some names from your local Chamber of Commerce. In any case, check with your local or state Better Business Bureau to see if they have any unresolved complaints against the service on file. If you have a local consumer protection agency, check with them also.

If at all possible try to repair your credit yourself if your credit needs fixing. There are easy, inexpensive ways to do it. If the situation has run amok than seek out nonprofit counseling services first. If you have to hire a for-profit agency, make sure you read the fine print on any contracts and have someone else look over the contract too if possible. Making an effort to resolve your credit problems, whether through a consumer credit counseling service or not, will pay off in the end and protect your future credit report and score.



By: Helen Hecker

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For more tips, secrets, how to get a free credit report online instantly, fix your own credit and get help with credit counseling and credit disputes -get advice and help from a caring credit expert – go to http://www.FreeCreditReportInstantOnline.com



Should You Consider Credit Counseling?

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Our society runs on money, but as we’re all aware, it also runs, a great deal of the time, on debt. Many people, at many times, have problems paying their debts. You may find yourself in a situation where you simply can’t pay all your bills.

This is an incredibly difficult time. You have grown up believing that honest people pay their debts. You consider yourself honest, but you can’t pay your debts. Once the collection agencies get involved, things get nasty. Collection agencies try to make you feel like a bad person. It’s their job to intimidate and shame you into paying the debt, no matter what.

Collection agencies are not in charge of deciding who is a good and bad person. You’re not a bad person because someone on the other end of the phone says so. You are a good person with a debt problem. This could happen to anyone, and it does happen to a lot of people. Sometimes even huge corporations go bankrupt; it happens.

The focus now is on how you can get out of this situation. You may be able to get help from a credit counselor. This may be a good course for you, if you are having difficulty solving the problem on your own.

Before you sign up with a credit counseling firm, research the firm carefully. Some “non-profit credit counseling” organizations are not what they seem. Make sure you’re working with a real credit counseling firm, and that they have a good reputation. If your creditors won’t work with them, they’re not going to be able to help you.

The most important thing is to make sure the money you send goes to your creditors, and that your creditors agree to the plan your credit counselor puts together. If your creditors don’t agree, you’re still on the hook.

You should avoid, at all costs, “credit settlement” firms. These companies collect payment from you, withhold it from your creditors, and then attempt to make a “lump sum” settlement. The problem is that during the many months you’re paying them, your creditors are not getting paid, and have not signed any agreement with the credit settlement firm. So you can be sued by your creditors and have your wages garnished, while the credit settlement firm enjoys the use of your money. Very few people find these firms useful in overcoming their debt problems.

A credit counselor can help you reach an agreement with your creditors about paying off your debts, and can help you keep that agreement. You pay the credit counseling firm, and they pay your creditors. Your creditors will agree to work with you because they believe they’ll be paid, and you have a chance to get back on your feet.

If you’re over your head in debt and can’t see any way out, consider credit counseling. Find a good, solid organization with a great reputation, and ask them if they can help you. Understand that you will be able to pay off your debts with their help, but you will have to change your spending and debting habits to avoid falling back into the same situation later. If you’re prepared to do that, credit counseling can help.



By: Brian Higdon

About the Author:

Read the blog http://www.zero-out-my-debt.com for the latest tips and information on debt reduction and debt elimination.



Consolidate Debts Loans, Bankruptcy And Credit Counseling?

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Consolidate debt loans? Many people find themselves in debt and it will be very hard not to feel the pinch and stress of dealing with it. It always reverberates in their minds on how they will ever get back on their feet again. It seems very hard to find what the answers to their debt problems are. But in actual fact there are options available that can be easily obtain. For instance, consolidate debt loans, bankruptcy refinancing, credit counseling, debt management counseling and the like.

The most popular and most used way of dealing with their debts and debt problems is to consolidate debt loans or a consumer credit counseling program to consolidate credit card debts. These types of solutions will be largely based on your own personal financial situation. Debt consolidation loans, credit counseling, bankruptcy are types of tools you can use in dealing with your debt problems. But always be mindful though and aware of the pitfalls that these types of programs can bring about.

While debt consolidation, bankruptcy, and credit counseling can all lower your monthly debt payments and gives some needed relief, they can also have some negative consequences. Through debt management agencies, you can find a responsible course of action which is credit counseling. This is the most morally right way to deal with your debt problems. This way you will learn how to manage your finances better and more efficiently. Although it may be the responsible way of doing things, it may not be your best option.

If you choose credit counseling, there are some online companies who offer free consultation. Even consolidate debt loans, you can also find free quotes online thereby giving you an idea on how to go about debt consolidation loans. Always educate yourself and learn more about these programs before getting into one. The more you know the better informed you are thus making the best decision in dealing with your debt problems.

Bankruptcy will be your last option. In the US, and in particular President Bush signed a bankruptcy reform bill that will require credit counseling before you individuals can file for personal bankruptcy. Congress in 2005 passes the bankruptcy reform bill which makes it mandatory to get credit counseling before you can file for personal bankruptcy. In effect make credit card companies raise their monthly minimum payments and further squeezed the consumers.

Consolidate debt loans is good option for your debt problems. It will help you avoid filing for bankruptcy and credit counseling too. It will also eliminate the harassment you will be getting from your creditors and/or collection agencies. It will also lower your monthly payment by as much as fifty percent. Before making any decision on what to do with your financial woes, be responsible and educate yourself on what is your best option so you will not regret your decision. But the best thing is you will be paying one single monthly bill payment after you consolidate debt loans.

Whatever your decision is, always get as much information as you can so that when you ultimately make the inevitable decision, you are prepared and will make that right decision.



By: Shellaine Enfesta

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Consumer Credit Counseling Services are Here to Help

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Many people who are suffering the financial strain of having too much debt turn to consumer credit counseling services to get their finances back on track. They have the experience and resources to teach you how to successfully put together a monthly budget that will help you better manage your money.

This is the financial downfall of many people, not managing their money properly. Once you are able to create a personal budget showing your income and expenses it becomes easier to control where your money is going. Too many people have lost control of their money and spend most of the time between pay checks wondering where it all went.

This is where credit counseling services can be of help. They have helped hundreds if not thousands of people in the same circumstances come to grips with their financial problems. They understand the straights you are in and will work to help you come to terms with building a workable and sustainable budget. In addition to reviewing all your financial data and making recommendations as to how best approach your current debt situation they should also begin to work with you on your long term financial goals.

A good consumer credit counseling service will also teach you how to and help you make arrangements with your creditors that will allow you to meet your budget every month. This will help to stop the threatening phone calls and letters and give you an opportunity to make good on your debt that works for you. Many debt collection agencies are quite happy to leave you alone as long as you do send them something every month. This can also help you avoid legal action that some creditors can take when trying to recoup what you owe.

All these services will charge some sort of fee if you decide to seek their help. Be sure to check around and compare the cost of doing business and avoid those companies that charge higher prices. In fact there is a good chance that there is a non-profit credit counseling service in your area. They normally cost less then for-profit companies and the advice you get will generally be some of the best. If you are not sure if the company you are dealing with is a non-profit contact your local IRS office where they keep records on all business and there status as non-profit or for-profit.

A consumer credit counseling service will give you the best results for your money if you are honest with yourself and them about your financial problems. You will need to reveal all your income, expenditures, and debts you owe and those you are having trouble paying or are behind on. They will give you the best advice and help you meet your financial goals if they can see the whole picture.



By: Andrew Bicknell

About the Author:

For more information about contacting and using a Debt Counseling Service please visit the website Debt Reduction and Consolidation by Clicking Here.



Ohio Credit Counseling: Find Relief From High Interest Debt

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Many Ohio residents like you have found that their credit card debt is hard to pay down because of high interest rates. Several organizations are available to assist you in getting relief from high interest debt in Ohio.

Credit counseling organizations help you by providing you the counsel and resources you need to pay off your debt. A credit counselor can help you get your interest rates on your credit card bills lowered so that you are paying less interest with each monthly payment that you make. There may even be a way to be able to pay lower monthly payments on those bills while still making progress in paying down the debt.

One credit counseling organization serving Ohio is Vision Credit Education, Inc. Vision Credit specializes in helping individuals and families like you become financial independent. They serve the communities of Cincinnati, Cleveland, Columbus, and the surrounding region. You can talk to a credit counseling at Vision Credit Education today by calling 866-832-2826.

Other credit counseling organizations also serve parts of Ohio. Consumer Credit Counseling Services of the Midwest, Inc. This agency works with Ohioans in Elyria, Mentor, Parma, Toledo, Union Town, and Warren. If you would like to contact Consumer Credit Counseling Services of the Midwest, they can be reached at 800-355-2227.

Accredited credit counselors can answer all the questions about debt and credit that you may have. They can help you come up with a workable budget that will allow you to stop living on credit cards. They can analyze the debt you have to help you understand what would benefit you the most. They can give you the information you need to make the right decision for your family.

Talk to a credit counselor today about your debt and credit needs. The relief you need from high interest debt is closer than you think.



By: Ronnica Rothe

About the Author:

Ronnica Rothe is a graduate with honors from the University of Oklahoma and a current student at Southeastern Baptist Theological Seminary. She works with stopccdebt.com to help individuals get out of debt and reach their financial goals.



How to Use Credit Counseling For Effective Credit Repair

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The skill of financial management and budgeting is quite complicated. As with any activity, certain folks are more proficient in this than other people. It is common for everyone to be in debt at some period during their lives. For example, most adults have credit card bills, loans, mortgages, or other financial obligations.

If you handle them well, you will be rewarded with an excellent credit score. This will enable you to continue to obtain credit later on. However, if you do not manage successfully, you’ll be hindered with a weak score, effectively depriving you of numerous financial opportunities later on. Improving your record will require you to gradually rebuild your rating. To achieve this goal, it is best to go to a credit counselor for assistance.

Credit counseling is usually provided by non-profit organizations. However, it is important not to mistake them for credit repair companies operating on a for-profit basis. For your own good, it is recommended that you steer away from those. For-profit companies, most notably those that publicize themselves on the internet, have a negative reputation for being nothing more than frauds.

Even if this isn’t the case, they probably won’t do anything that you couldn’t have done on your own anyway. For example, they might instruct you to acquire a copy of your credit report and dispute the negative information on it. Even worse, they might encourage something unlawful, such as using another address in order to obtain a “new” rating.

Unlike for-profit companies which have their own financial agenda, non-profit counseling agencies give you advice. Rebuilding your credit rating is a lengthy process that demands a great deal of patience and discipline. You must recognize this so you don’t try to take the easy way out or you will only hurt yourself in the end. Instead of taking the seemingly more convenient path, a counselor will assist you with making tough decisions and long term plans so you will be able to improve your credit effectively.

Nearly all high-quality counseling organizations offer resources such as financial advice, classes, and educational materials. Counselors use their expertise to teach you how to make a budget plan and stay with it, which greatly improves your credit record in the long run. Additionally, they may also provide individualized counseling sessions tailored to your needs. These sessions allow you to carefully scrutinize your choices and learn to make smart financial choices based on your own particular circumstances.

Unlike credit counseling organizations which provide individualized services, credit repair companies simply prescribe an impersonal, one-size-fits-all formula for every customer. Any company promising something like that without even bothering to learn anything about your individual situation is deceitful and does not have your best interests in mind. Legitimate credit counselors deliver the individualized services that for-profit companies try to get out of.

The best advantage of choosing a credit counseling agency rather than a repair company is that your results will be longer-term. Instead of paying for a quick fix that’s devoid of any educational meaning, you’ll gain knowledge and learn useful financial skills such as effective budget management and smarter spending habits that you will be able to use for the rest of your life.



By: Michael DeMarkks

About the Author:
Credit-Repair-Review.com offers free online credit counseling and credit repair advice. To get more information, info-packed articles, current news, tools and resources on credit repair and debt solutions, visit http://www.Credit-Repair-Review.com



Should You Opt for Credit Counseling?

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This is a common fact that every one needs credit counseling at one point of time or the other in life. In the present-day situation, everyone faces financial crisis for during his or her life. They face bad credit situation and bankruptcy mainly because of their exaggerated expenses and personal loans. In these difficult situations, people need a professional guidance to overcome the situation. Credit counseling will be a helpful lesson for them when they are suffering from these situations.

Many counseling agents and experts can assist them in case of bankruptcy or in case of any other financial turmoil. Some times people take high amount loans and it causes a financial crisis in future because of the high interest rates. The counseling agencies help them to understand the investment policies and they will teach you how to invest and where to invest. If you take any instant loan for your personal investment then you must make it sure that the loan is the most suitable for you. If the plan under which you are taking the loan is not appropriate for you, it can lead you towards a financial crisis.

The credit counseling course is for the financial and investment education. The experts are there for you to make you understand the process clearly. If you take the help of the professionals, you can definitely avoid the financial crisis in the future. This credit counseling service is also for them who are facing any financial problem at present. The experts will show them the right path to overcome the situation. They will tell them the best way to get rid of the crisis. The credit counseling agencies provide many services. They can offer you debt repairing plans, bankruptcy avoiding plans, and many other important plans to get a healthy economical life.

Many other services are provided by various credit counseling agencies. You can have professional advices regarding your budget and credit. If you are thinking to take a huge Loan to fulfill one of your dreams, then the experts will tell you what will be the right choice for you. If you have huge debt in the market then your guide will tell you how to manage your debt. The experts also help you to get a credit card. The agencies provide credit counseling for all of your family members. Reverse mortgage counseling is also available as an essential service in the credit counseling agencies. You really need the assistance because it solves every problem that any one can face at any time regarding his or her financial career.

The credit counseling experts also help you by providing repayment plans. It is a fact that most of the people take loans for their personal or other use. However, a large number of them face a crisis when they have to repay the loan. It is only because they do not know the pros and cons of the particular loan agreement that they sign. The credit counseling professionals will help them to choose the right one for them and have a concrete plan to repay the entire loan.



By: Usha Pradhan

About the Author:

Usha Pradhan has completed her MBA in finance sector and currently working as financial author for cash loan by phone. She is contributing her knowledge on loan, cash loan, credit counseling. To know more about her please visit website www.cashloanbyphone.com.



The Secret of Debt Consolidation Credit Counseling

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Debt consolidation credit counseling might be just what the doctor ordered for you or not. If you are drowning and debt and don’t what to do a credit counselor may be able to help.

Debt Consolidation Credit Counseling is Not Hard to Do

Your first contact at a debt consolidation credit counseling agency is often a credit counselor. A good credit counselor will want to meet with you locally in person first. The counselor will provide you with customized education and what your option are before you need to make any choices. The primary service that most credit counseling agencies provide today are Debt Management Plans (DMP). With creditor approval a debtor submits a lump sum to their credit counselor as a key feature of a DMP.

Finding a Debt Consolidation Credit Counseling Agency

It is hard to find good debt consolidation credit counseling for several reasons today. Helpful places to start looking are the National Foundation for Credit Counseling (NFCA) and the Association of Independent Consumer Credit Counseling Agencies (AICCCA). You can find recommendations to follow up on by doing your own due diligence. Once you have a short list of credit counselors in your area use Google to search for positive and negative reports on each agency. Make sure they have a clean record with the local Better Business Bureau as well.

Beware Aggressive Debt Consolidation Credit Counseling

There are more scam debt consolidation credit counseling agencies today than ever before. Protect yourself by doing your homework before meeting with any counselors. Check out the debt consolidation credit counseling agency online and with the Better Business Bureau. Look out for upfront payment demands

Credit Reports and Debt Consolidation Credit Counseling

You are entitled to a free copy of your credit report from the three major bureaus annually. Get a copy and review it before you take on any debt consolidation credit counseling. After completing counseling or a DMP check your credit report again for any notes or improvements. Some positive benefits to your credit report could be the removal of delinquent payments or “re-aging” of your accounts by creditors. Lenders may take credit counseling as a plus or a minus depending on their bias to words lending.

Do I Need Debt Consolidation Credit Counseling Before I File For Bankruptcy

There have been some important changes to understand with the adoption of the Bankruptcy act of 2005. You must complete federally approved credit counseling at least six months in advance of filing for bankruptcy. So even if bankruptcy is your preferred choice of action a good understanding of credit counseling is still needed.

Debt consolidation credit counseling can help you to take care of business. Do your research and find a great credit counselor. Don’t procrastinate get on with it immediately.



By: Henna Youngman

About the Author:

For more articles on Debt Consolidation Credit Counseling go to: ConsolidationDebtNews.info

Henna Youngman contributes regularly to ConsolidationDebtNews.info a blog dedicated to share information about debt counseling and debt consolidation options.



How to Choose a Credit Counseling Agency

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Are you barely making ends meet? Dodging debt collection calls? Unable to meet your monthly expenses much less save money for emergencies or retirement? If this sounds familiar, you may want to consider credit counseling. Credit Counseling can improve many aspects of your life. It can help you get out of debt faster and improve your credit, just to name a few. And there are many agencies out there that would love to quickly enroll you in their Debt Management Program. However, not all agencies are created equal and not all agencies are truly looking out for your best interest. As with most things in life, if it sounds too good to be true, it probably is.

This article will outline some guidelines in choosing a credit counseling agency, what questions you should ask and a few warning signs that you may not be dealing with an ethical practice.

Choosing a Credit Counseling Agency

Reputable credit counseling agencies advise you on how to realistically manage your money and your debts, help you develop a workable budget, and usually offer free educational materials and workshops.

Develop your own list on the potential credit counseling agencies and the best way to check the reputability of those short listed credit counseling agencies is to check them with the Better Business Bureau at www. bbb.org. From they you will know how many complaints have been filed against these credit counseling agencies and for what reasons.

Credit counselors should be certified and trained in the areas of consumer credit, money and debt management, and budgeting, and should discuss your entire financial situation with you, and help you develop a personalized plan to solve your money problems without pushing a debt management program. Erase them from your list for those credit counseling agencies that keep pushing you to enroll into their debt management program without understanding first on your financial condition.

The Cost

Although many credit counseling agencies are nonprofit, there might be some fee involve. Bottom line is whether they request “fees” or “contributions”, they should be disclosed and should be reasonable. Anything over $50 for a consultation fee or monthly fee or contribution is NOT reasonable.

Make sure that the agency is not keeping the first month’s payment as their fee! This is known as a bad practice in the industry and has been the source of state attorney general lawsuits as well as many individual actions against the agencies that do this.

What Questions To Ask? What services do you offer?

Look for a credit counseling agency that offers a variety of related services. Avoid agencies that push a debt management plan (DMP) as your only option before they spend a significant amount of time analyzing your financial situation.

What educational materials/information do you offer? Is it free?

Avoid credit counseling agencies that charge for educational materials or other written information.

What are your fees? Are there set-up and/or monthly fees, how are they broken down?

Get a specific price quote in writing and make sure you understand exactly what fees you’ll be charged.

What if I can’t afford to pay your fees or make contributions?

Under the terms of the Pension Protection Act of 2006, non-profit credit counseling agencies must provide services for free if a consumer is unable to pay.

What are the qualifications of your counselors? Are they accredited or certified by an outside organization?

Use an organization whose counselors are trained by a non-affiliated party and who have a background in debt management, consumer credit and budgeting/finance.

Once you satisfied with their answers given by the credit counseling agency and decide to take up their service, remember to get a copy of the contract and review it carefully before you sign it. Make sure the contract includes:



Disclosure of the amount of your fee or contribution

Description of the services to be provided

An estimate of the payoff schedule for the debts

Disclosure of the termination provisions of the agreement

Options for resolution of disputes



Warning Signs

Finally, you should be aware of a few warning signs on unethical practice. Get alert with these signs when you interviewing an agency:



Unrealistic Low Monthly Payments

Money Back Offers

Loan Programs

If the promises being made seem like they’re too good to be true, they probably are. Beware.



Summary

You have made the first step towards reaching financial freedom. Now you must make the next big step and choose the Credit Counseling Agency that is best for you. Remember, you want to work with an agency whose goals are in line with yours, NOT theirs.



By: Cornie Herring

About the Author:

Cornie Herring is the Author from StudyKiosk.com. “StudyKiosk-Credit Basics” is an informational website on credit basics and debt consolidation. To see recommended, credible lenders and loan service companies, visit: Recommended Bad Credit Debt Consolidation Services and Lenders