The loan may be obtained through debt relief companies, or through your bank, or as a home equity loan if you own a home.Although this approach has the basic appeal of consolidating your debt into one monthly payment, there are significant costs and risks involved: As one of the nation's leading non-profit debt management agencies, ACCC offers a way to consolidate unsecured personal debts without having to borrow more money. In short, we work out an arrangement with your creditors whereby you make one consolidated payment to ACCC each month and we then make the monthly payments to your creditors.
If you do qualify, you may not qualify for competitive interest rates.
One of the worst things about falling deeply into debt is dealing with multiple creditors.
There's too many accounts to keep track of, a stack of bills on your desk each month, and if you fall behind, a steady drumbeat of phone messages from creditors who want to be paid.
During your free counseling session, we’ll help you identify the root cause of your financial problems.
We’ll also help you develop a budget that minimizes your monthly expenses.