Debt consolidation loans work if you follow the advice of the loan officer which is to make your loan payments ontime and avoid opening more credit accounts. I had a debt consolidation loan when I was younger and the bank pays off each of your creditors included in the loan which in my case also closed these accounts and then you have just the one loan with them. The monthly payments are much lower and hopefully you can ge a lower interest rate. Debt settlement programs don't always work and some credit companies do not participate in them. Debt settlement also can look bad on your credit report to future credit providers because to them it looks like you were not reliable enouh to pay back all of your debt and they are leary of lending.

hey thanks a ton for your advice...it's helped out a lot. i agree with michelle, in order to get out of debt i shouldn't be spending more money on a program that might not even work. ayy...i know what i have to do, sacrifice, i just don't want to do it sometimes.

hey but thanks again