i want to consolidate my debt but am concerned with how negatively its affects are on my credit. can i pay on a consolidated debt at a significantly lower interest rate than now(im averaging +20%!)? if so, will that outweigh the side-effects?

Are nearby some drawbacks in the direction of debt consolidation?
Please share your suggestion here …

Are there any debt or credit card consolidation services that are easy to use and secure and worth the time?

i’ve heard and read about this debt consolidation services online but havent found any in the philippines. anyone know if this is available here?

I am considering filing bankruptcy. I know that consumer proposals – debt consolidation are another option. If anyone can give me information on this it would be much appreciated and the most thorough answer will get 10 points – again thanks.

If anyone has any experiences with good or bad in dealing with a debt consolidation company let me know. Would it be a good idea to have one help me if I have about 4,000 dollars in debt?

I want to work with a debt consolidation company that pays off the debt on your credit report quickly and have you pay them monthly. I do not want a consolidation company that only pays the collectors as you pay them.

I have two credit cards that I have used over 5 years ago and never paid back. The total of the two cards FIVE YEARS AGO was $1000. Of course, by now, it should be close to $3000 because of all the interests.
What does debt consolidation do? More importantly, can it REALLY remove or reduce the interest that built up over the last 5 years?
When doing a search for debt consolidation services, I get THOUSANDS of results. Which debt consolidation services are better?
Detailed answers would be appreciated.