10 Debt Consolidation Myths

What are the biggest myths surrounding debt consolidation? I am glad that you asked...

1. Credit counseling, debt-management programs -- it's all the same.
2. Credit counselors can cut your monthly payments in half.
3. Some companies offer lower interest rates than others.
4. Some agencies can negotiate lower DMP payments than others.
5. Debt settlement is the cheapest way to go
6. You need a formal program to get out of debt.
7. Debt consolidation always saves you money.
8. DMP helps your credit rating.
9. Bankruptcy will ruin your life.
10. Bankruptcy is no big deal.

This is just a high level overview. To find out more of what each of these mean, read the full article over at BankRate...