"Bankruptcy, Debt Consolidation, Foreclosure, Lawsuits... we know debt can be overwhelming and we are here to help."

irst of all, please keep in mind that there are some honest Debt Consolidation Companies.  That said, good luck distinguishing the good companies from the scam artists.  Many of the companies that advertise on the Internet, television, radio and print are simply "boiler room" style telemarketing companies.  The "counselors" who work at these companies are paid on a commission bases, and many earn bonuses for the amount of new accounts secured each month.  Most of these companies boast about their accreditations and their "not for profit" status.  The truth about these companies is both shocking and disheartening. 

ebt Consolidation Companies often tell consumers that filing bankruptcy is the worst thing you can do to your credit score.  However, in many cases, NOT filing bankruptcy actually hurts your score far more in the long run.  When you miss the original contractual payments for tow or more months in a row, your credit score is lowered dramatically.  The payment arrangement that a Debt Consolidation company establishes for you is NOT the original contractual payment.  Hence, entering into repayment plan that the Debt Consolidation Company establishes destroys your credit score.  Entering the program is considered a default, which will be reported like a "late payment", "partial payment" or "charge-off" every month, for the entire term of the program.