Is Debt Consolidation a Good way to Go

    You are over whelmed with your credit cards.  You want to know it debt consolidation is a good way to go.  Credit consolidation agencies are growing faster and faster.  We know this because of our economy and the debt a lot of us are in.  They are getting bigger and pretty much making a profit off are struggles.        I personally have heard good and bad things about debt consolidation.  The good thing is that, if you have an excessive amount of credit cards, with so many different due dates and tons of fees. You kind of put it in their hands which, can be a big relief.  Everything is combined and you make one monthly payment to them.  The monthly payment can be pretty high depending on your agreement.  I know they work with you but, if you want to pay a lesser amount, the interest is higher and you will be paying them for along time.  I do know that you have to at least be 10,000 dollars deep before most places will except you.        The bad thing is, your credit stays kind of on the downside.  If your credit cards are maxed out with a bunch of fees and you go through credit consolidation.  They add interest so, you will end up paying a lot more in the long run.  The possibility of you getting another card in the mean time is, not likely.  This might be a good thing.        To make a decision.  First of all, make sure you can pay the lump some payment.  Make sure you will be responsible about it.  If you have a few cards, I would try to think of a different solution.  If you have tons of them, this might be good for you.  Call them up, give them your debt and find out the amount of money you would have to pay each month.  Budget that amount yourself between all your credit cards.  See if there is away you can split it up between them all.  This may not be good advice but, when it goes to a collection agency, the interest stops.  If you can pay thirty dollars a month on one with the collection agency, you will not have to worry about interest.