In life we understand that there are high points we never want to leave and low points we hope to forget. One of the most common situations that many endure are financial problems. In today’s economy it can be a bit hard to make the money necessary to save enough to make a big purchase or investment up-front (for example paying cash for a car or home, covering medical expenses, or even taking a much needed vacation). With this in mind, taking out a loan is something that many see as a temporary relief or a last resort option in the case of an emergency.

At times, the decisions we make during bad times, permeate into our good times. If a loan with poor terms is acquired under stress, there’s a good chance that consolidating your debt is a solution that will relieve the pressure. There are Better Business Bureau (BBB) approved consolidation loan companies that can help you re-organize all of your loans accordingly and begin paying them off.

Cambridge Credit Counseling

With an A+ rating from the BBB, it is pretty safe to say that by first impression Cambridge Credit Counseling can be a great company for you. Their main goals is to help individuals consolidate their loans including housing, credit card, student loan debt and more.

As a full-service consumer credit counseling agency, if you are experiencing a multi level situation in regards to your loans, the entire team is experienced in pointing you to the right direction.

Accredited Debt Relief

Accredited Debt Relief was established in 2008 with the intentions of helping individuals in their financial shortcomings. As a consumer you will be able to receive a free quote in addition to free consultation as well. Their goal is to assist clients by consolidating debt and resolving said debt within 24-48 months. Depending upon your personal situation you can expect your rate to be between 4% and 8% (which is pretty great comparing to the average).

National Debt Relief

National Debt Relief helps clients with debt solutions regarding housing, credit cards, and regular loans. Many customers have noticed that their credit card payments were reduced by 30% – 50%. While bankruptcy tends to be a option that some take, it is not necessarily what needs to happen.

The difference between bankruptcy and consolidating your loans is complex. Bankruptcy has long term effects on your credit but it can be positive if you are not looking to make any credit-based purchases in the near future. Consolidating your loans is a reduction in the payment or a renegotiation of the payment terms. There is no delay, as you continue to pay back your debt immediately. The sooner you pay your debt back from loans, the quicker you can begin to improve your credit score, making BBB approved debt-consolidation companies an option worth looking in to.