Do you plan to use online-based debt relief methods? If so, you may want to learn more about debt consolidation programs. They entail provision of a debt consolidation loan. After being approved for this loan, you can quickly pay off each debt you have right now. Then you can start paying back your consolidation loan slowly for the number of years you want. Before taking out a debt consolidation loan, think about your job security. Do you have job security? Do you think your services can be terminated any time soon? What are your other sources of income? It is very important to focus on your income stability.

If your job is not very secure, you should probably seek the views of a debt counselor. A consolidation loan is taken out with collateral, thus putting you at risk of losing your asset if you ever fall back in your monthly payments. Prior to borrowing this loan type, try to convince your creditors to lower their current interest rates or forgive part of your debt. This may work if you had genuine reasons for missing payments or bringing them late. You may plead with your creditors in person to cancel your late fees as well.