Confusion is one of the biggest causes of personal financial issues; an accumulation of a large number of debts will always result in an array of different payment dates meaning that it is so easy to overlook a debt and therefore, miss a payment. One missed payment equates to a negative 40 on your credit score, so it is imperative that payments are made on time, in order to ensure your credit history remains in good condition.

You may have reached a point already where your credit status is, or has been, already hit by negative credit marks, so it is imperative to look for debt relief and consolidation is the easiest way to do this. You can do this by either using a debt settlement company that will negotiate better terms with your creditors, (either improved interest rates or a lower monthly repayment and in the best case scenario both) and then they will manage those accounts by asking you to make a single monthly payment to them, which they then distribute accordingly.

The other option open to you is the debt relief consolidation loan; instead of all of your debts being managed continuously by a third party debt settlement company they are all paid off, either at a negotiated settlement figure or in full. This is achieved using a debt relief consolidation loan that has usually a better interest rate than your combined debts and again, it will become much easier to manage as it will be a single monthly payment.

Before you start looking at ways of debt relief you need to know about methods that will help you eliminate debt quickly. Imagine being debt free in three to five years, no financial burdens. Well, it is possible. Of course the financial institutions don't want you to know about these perfectly legal methods of debt elimination so they have kept quiet about them but you can find out more by visiting either of the sites linked to at the end of the article