Crab Apple Web Logs

Debt consolidation programs offer you a completely ethical way to get out of debt that has existed for as long as the concept of debt itself. The incentive for your creditors to settle a debt is clear once there is a possibility that they may collect nothing on the debt if you filed for bankruptcy protection. Your motivation to settle is to avoid bankruptcy and to ethically settle your debts. Ultimately your minimum monthly payments will likely be going almost entirely towards interest and none towards the debt, itself.  At this rate, you would finally pay the account off in about 30 years having spent ten times at least of what you initially borrowed. Debt consolidation programs can end the 30 year cycle and cut it down to 3 years or less.