Yes….I think that would be the best way. As the debt counselors are the experts in the field and more often they have contact with the creditors. Thus they can negotiate with them and would be able to reduce your debts upto 50%. And provide you with an affordable debt repayment plan.

Here is the source of a debt consolidation company for your reference who offers debt settlement plan.

I was in debt about till about 6 months ago. I found this free E-Book that basically answered every single one of my question and helped me get totally out of debt. Its at .It was %100 free and within 20 seconds your emailed both ebooks. I now am able to answer the phone every time it rings and actually know for the first time in my life its not a creditor.check out

Rich is exactly right they want to get as much money out of you as possible and want it at the highest intrest rate. You can call and after going through the chain of command several times you can get your rates reduced on your own and time you go through a company it will have a huge negative impact on your credit score which is the same as getting further and further behind on payments. First cut up you credit cards so this doesn’t get any worse. Than contact your creditors get your rates reduced you each need to take second jobs if possible just temporarily to start this ball rolling with the reduced intrest rates and a small additional income you will begin to make progress. It always takes longer to get out of this kinda mess than it does to get into it. Good luck.

Most of the debt settlement companies are still in the business to make money, even the nonprofits. Depending on how far behind you have gotten you might want to look at all your options including credit consoling, bankruptcy or a consolidation loan. If you want to consider the last try you can attempt to get a loan at a lower rate and payoff your credit cards, but if you do that be sure to cut them up or freeze them in a block of ice in order not to run them up again.

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