If you’re looking for a good debt consolidation loan you have a few things to consider. Even if you to need one you still want to be careful to examine and research your potential provider of the loan. There have been cases reported where debt relief organizations stealing installments to get themselves out of debt, and not paying the borrowers creditors.

That would leave you in bad financial shape without any of your debt be cleared, so the best way to combat this is knowing that they have a financial trading number. The person your talking to about your loan ought to be aware of that. If they aren’t, then simply reject any offer they give you.

The next order of business if working out exactly what this will cost you for them to originate your loan. Many of these lenders will under-handedly add on a percentage to your payment amount. Other more devious companies may add more. An example is if your monthly cost is $300 around half of it goes to your debt management company instead of toward your debt. Imagine spending double the actual time is should to clear your debts? Always read the fine print and always ask about the fees and services.

While most companies that offer debt consolidation use some of these techniques, not all do. Some will require their up-front fees or totally wave them if they can get if from the creditor. The best solutions are always to ones that don’t cost you. If you locate a reputable debt management company who will get the fee from your creditor it’s far better for you. You won’t clear your debts in less amount of time, but the monthly payments will be lower.  Always ask about the fees. No answer, no deal.

When you talk to any particular company about finance, you don’t ever want to seem desperate. Don’t let them know how much you can really use the money. That gives some license to take advantage. Speak clearly and be polite. Let them know what you’re interested in is a consolidation loan. Also make them aware that you are currently in contact with several loan companies trying to nail down the best deal.

These shrewd little hints could keep you safe from the ravenous wolves, and able to get the best terms for your situation.