Credit Counseling and Debt Consolidation Bandaids

Each year, millions of consumers who are in need of aggressive debt relief refer to credit counseling agencies, or debt consolidation loans. However, despite the popularity of credit counseling and debt consolidation loans, both options are generally a “band-aid” treatment.

Many debtors need much more financial relief than interest rate reduction. This explains the 79% dropout rate of credit counseling credit counseling debt management plans. Another harsh reality, if you're considering a debt consolidation loan is that 65% of the people, who take out debt consolidation loans, end up with more debt!