Consolidation means that your various debts, such as credit card bills or loan payments, are rolled into one monthly payment.

If you have multiple credit card accounts or loans, debt consolidation through a credit counseling service can help simplify or lower your payments.

If you're unable to pay your creditors, filing for bankruptcy can help you get a fresh start by liquidating your assets to pay off your debts or create a payment plan.

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You can find free or low-cost credit counseling options at: Under the provisions of the Servicemembers Civil Relief Act (SCRA), you may qualify for a reduced interest rate on mortgage payments or credit card debt, protection from eviction, or a delay of all civil court actions, such as bankruptcy, foreclosure, or divorce proceedings.

To find out if you qualify, contact your local Armed Forces Legal Assistance office.

If you are unable to make payments on time, you could lose your home.

To decide if debt consolidation is right for you, contact a credit counseling service accredited with either of these organizations: If you have a problem with a lender concerning debt consolidation, you should first contact the lender.

But you should first consult a qualified credit counselor.

You may be able to lower your cost of credit by consolidating your debt through a home equity loan or home equity line of credit.

This includes money owed on personal credit card accounts, auto loans, medical bills, and mortgages.

The FDCPA does not cover debts incurred in running a business.

There are two main types of personal bankruptcy: A debt collector generally is a person or company that regularly collects debts owed to others, usually when those debts are past-due.

This includes collection agencies, lawyers who collect debts as part of their business, and companies that buy delinquent debts and then try to collect them.

If you believe you do not owe the money, contact the creditor in writing and send a copy to the collection agency informing them with a letter not to contact you.