There are many reputable debt consolidation counselors. The best offer a range of services, including debt education, budget counseling and debt-management programs. Some people can resolve their financial problems simply by examining their spending habits and making some changes. Others may have suffered a major setback, such as a job loss, and need more help. If this is your situation, Debt Group America's debt counselors can set up a debt management program. In a debt management program, debtors / clients in distress are required to provide a list of their bills. A designated consolidation counselor contacts the creditors and negotiates concessions, such as a lower interest rate. The debtors make one adjusted monthly payment to the agency, which disburses the funds to the individual creditors.

Debt Group America and it's partners retain close ties to creditors, our debt consolidation counselors offer a fulfilling incentive to clients who are eligible for debt consolidation and management program enrollment. Any client that doesn't qualify for our debt consolidation program will be directed towards a lawyer who can advise them on bankruptcy. Creditors say that debt consolidation / management systems benefit everyone because consumers are able to work out their problems without resorting to bankruptcy, which can make it difficult to borrow money in the distant, and even near future.

If Congress approves a bankruptcy reform bill, debt counseling companies and debt counselors will be in even more demand. The bill makes debt counseling a precondition for declaring bankruptcy. It's important for consumers to consult a debt counselor well before they are considering to file for bankruptcy.