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Debt Consolidation Reviews

Debt consolidation reviews are a helpful tool that will enable you to weed out the bad from the good debt consolidation companies.  There are a wide variety of debt consolidation companies on the market and choosing the right one can be a tedious process.

The importance of a debt consolidation company is too great to simply choose the first one you come across.  Through using debt consolidation reviews you should be able to find a company that can offer you the help that you need.

ERC Debt Solutions

ERC Debt Solutions is a for profit financial services firm.  They specialize in debt consolidation and offer a range of services to help ensure that you get your debt under control, mange it for the long term and eventually clear it up without hassle with creditors.  ERC Debt Solutions helps you to avoid having to argue with creditors about repayment of debt by allowing them to do all the work for you.

Pros:

• No requirement to include all debts in program
• Ability to only include debts you desire
• Ability to establish new credit under program without default
• Options to stop additional fees by creditors
• No ban from paying creditors directly is you choose to do so
• Legal representation is part of program
• Provides a reduction in interest rates on accounts in the program
• Great customer service with quick replies and handling
• Variety of payment options, including phone payments or mail
• Will consult with creditors to clear up problems that come up while in program

Cons:

• First payment made goes directly to company with no payment towards debt

ERC Debt Solutions is a solid company that offers a nice choice from non-profit companies that have many strict rules to follow while enrolled in their programs.  ERC Debt Solutions is a great option for someone who wants to only work on a few debts and not all of them or someone who would like to establish credit while still in the process of consolidating old debt.

Amerix

Amerix is the largest company in the credit counseling industry.  They offer non-profit services to help clients get out of debt.  They have a large network of creditors allowing them to offer more extensive help for debts.  Amerix offers services from debt counseling to restructuring of credit terms.

Pros:

• Offers service over the phone or internet
• Gets lowered interest rates, payments
• Can get fees eliminated
• You choose the date of payment each month
• Ability to increase payment if desired
• Online account maintenance
• Possible waiver of membership fees
• Ability to add creditors at any time online or on the telephone
• Payment can be made through mail or through automatic deduction

Cons:

• Does not accept personal checks as payment
• All credit cards with balances over $100 are closed out upon entering program
• $5 fee charged per creditor each month

Amerix is a very well established and trusted company.  They have been very successful at being able to offer clients a structured way to pay down debt and avoid future problems.  They are the perfect option for someone who is seriously in debt and a great alternative to filing bankruptcy.  They may not be the best choice for someone with small debt problems or who wishes to keep lines of credit open while enrolled in the program.

Union Financial Services

Union Financial Services is debt consolidation company that works with you to help formulate a plan to reduce your debt.  They work with numerous creditors and offer options for situations where creditors will not work with the program. 

Pros:

• Friendly customer service agents
• Quick sign up
• Student loans can be included in program
• Reduction of interest rates on credit cards
• Gives option to include creditors in program even if they refuse to work with program, ensuring they still are paid and you still only have one consolidation payment a month

Cons:

• Slow customer service as reported by clients
• Most communications done through fax
• No 24 hour customer service
• First payment does not go to debt; it is a deposit that is returned upon completion of program
• No direct payment options - mail in payments or money wire transfer only

Union Financial Services is a smaller debt consolidation company.  They still have the ability to help you with a variety of debts.  If you are mainly concerned about prompt customer service then this may not be the service for you.  Union Financial Services is best for someone with creditors that refuse to work with consolidation programs, student loans or someone who just wants to work with a company that has a friendly approach to business.