Your consultant will then Brass Wrapped Bushing Factory start handling your creditor calls. When you receive the documents, the consultant will contact you in order to answer any questions before you sign the said documents. Once you sign and return the documents to your consultant, you can start referring creditors to your debt consolidation company.

Your consultant will negotiate on your behalf. They will contact your creditors or collection agency and will propose a payment plan that you can afford. They will also negotiate with your creditors to reduce your interest rates and monthly payments. The consultant will then request your creditors to freeze or reduce extra charges and late fees on your accounts.

You must send a single monthly payment to the consolidation company. Monthly payments should be sent to the consolidation company which then distributes them amongst your creditors or collection agencies.

Thus, you will forward your creditors a single monthly payment. You don't have to worry about handling several creditors at a time. Upon receiving your payment, the debt consolidation company forwards it to your creditors. You are likely to receive your creditor statements as a confirmation of receipt for the payment.

Generally, the consultant makes an update of your financial situation after every six months. If in case your financial situation changes, you should inform the consultant about it immediately.

The consultant will re-evaluate your situation and will request your creditors for a different payment plan. The consolidation company will also help you with budgeting and money management so that you can organize your finances effectively.

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