First, make sure that any company you are considering working with is legitimate and reputable. Ask around to see if anyone will share recommendations or bad experiences. This is usually the most reliable way to locate the best ones to work with. Also check with the Better Business Bureau. Too many unresolved complaints can be a red-flag. The internet provides a wealth of information and has reviews on companies and their programs.

Second, find out about the different types of debit consolidation programs they offer and what they entail. Some require counseling and may ask you to cut up your credit cards and/or not apply for any additional credit while you are in the program. Some receive your monthly payment and divide it up among the creditors you owe. Others provide a loan that pays off all your debt in the beginning and then you just make monthly payments on that new loan. Some decrease your interest rate(s) but not your monthly payments while others do both. A good company will walk you through all your options and help you determine what is best for you.

Third, ask about possible additional fees or penalties. Some companies charge an extra fee for their services that may or may not be included in the monthly payments you make. Some loans include a pre-payment penalty, something you want to avoid so you can pay it off early without paying anything extra. There are several free debit consolidation options out there, so you should be able to find one that will work well for you without having to pay any extra fees.

Once you have found a good company to work with and a debit consolidation program you like, be sure to read everything before you sign so you know that it is what they said it would be. Remember, a good consolidation program will make your life easier and less stressful.