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You choose whether to talk with a debt consolidation provider.
Talk through my options
Learn what each path could cost. Using this site is free. No obligation.
Talk With a Provider
Narrow your options to your debts and your budget.
Know the Timeline Up Front
Hardship negotiation programs often run 36 to 52 months. How long yours takes depends on how much you enroll and what you can set aside each month. Creditors may not agree, and your credit can be affected. If a company sells this by phone, it can't charge a fee until it reaches an agreement on at least one debt that you accept and make a payment under. Canceled debt may count as taxable income.
FAQs
Who is CrossOffDebt.com and why should I trust you?
At the core of our client relationships is one simple factor: trust. We know that fostering trust is vital. And it starts by doing more listening than talking. As effective listeners, we can better identify our clients’ goals and concerns, then connect them with debt consolidation providers that offer solutions tailored to each client’s unique situation.
CrossOffDebt.com is a debt consolidation referral service. We’re committed to maintaining high standards of business practices and customer satisfaction. We are not a debt consolidation provider ourselves. We connect visitors with providers and ask them to explain their costs plainly. We help individuals and families understand debt consolidation options for unsecured debt and connect with a provider.
What makes CrossOffDebt.com different from other comparison sites?
With CrossOffDebt.com’s debt consolidation marketplace, you can fill out a short form and see which providers may be able to review your situation and what services they offer. The options shown are based on the answers you give. A soft inquiry does not affect your credit score. Many other comparison sites will only provide you with generic information about a given debt consolidation provider — the services and information you see will not be specific to you and your debt situation. You might be able to go to a specific provider’s website and see your personalized options, but you’ll only be able to do this for one provider at a time.
What services can you connect me with?
We connect you with companies that offer debt consolidation options, such as hardship negotiation. A provider can also tell you about other paths, like nonprofit credit counseling or talking with a bankruptcy attorney. Your answers help match you with providers that work with your kind of debt and your location.
How does debt consolidation work?
The specifics of how debt consolidation works will vary depending on the type of program and provider you choose. In general, debt consolidation programs aim to make debt easier to manage than minimum payments alone.
For example, with hardship negotiation, rather than paying your creditors directly, you typically make monthly deposits into a dedicated savings account. As funds build up, the debt consolidation company will negotiate with your creditors to try to agree on reduced payoff amounts. Once an agreement is reached, the funds you’ve saved are used to pay the creditor the lower, agreed-upon amount. The goal is to negotiate with your creditors toward terms you can afford.
What debt consolidation services can I find through CrossOffDebt.com?
Through our network of trusted partners, CrossOffDebt.com can connect you with debt consolidation providers who offer solutions for those overburdened with unsecured debt, including credit cards, personal loans, and medical bills.
Depending on your situation, a provider can walk you through debt consolidation options, including hardship negotiation. In hardship negotiation, a company negotiates with your creditors to lower what you owe. It can affect your credit, creditors may not agree, and canceled debt may count as taxable income.
Which is the best debt consolidation solution for me?
When it comes to debt consolidation, you have several options available to you.
Each solution comes with its own pros and cons, along with different short-term and long-term consequences that vary for every individual or family seeking debt consolidation.
How much do debt consolidation services cost?
The cost of debt consolidation will depend on the specific program and provider you choose. Some providers charge a percentage of your enrolled debt as a fee for their service. However, this fee is typically only assessed on debts that are successfully negotiated or resolved.
In a hardship negotiation program, the fee is usually a percentage of your enrolled debt, so ask the provider to compare the total you would pay with what minimum payments would cost you. If the company sells the program by phone, the FTC's rule says it can't charge you until it reaches an agreement on at least one of your debts, you accept that agreement, and you make a payment under it.
Providers should transparently explain their fee structure during your free consultation so you understand all costs involved before enrolling. Ask for the total cost and the monthly payment in writing, and compare them with paying on your own.
What does debt consolidation cost, and can it save money?
Results depend on your debts, your creditors and whether you finish a program. Ask a provider how its program could change:
- Your monthly payment
- The total you repay
- The interest and fees you pay
Compare every option with what minimum payments would cost you before you choose. Talk through your options.