Debt is my first post

There are a large range of experiences with debt consolidation ranging from the simple and successful, to horrifying accounts of financial ruin. Neither extreme is likely to be true in your situation, and it is possible that debt consolidation could be a good way to handle your debt. The value of debt consolidation programs differ on the basis of various factors like the amount you owe, the amount you earn, and the types of debts you have. Your level of success with a debt consolidation program is also affected by your perception of debt and how you think of money in general, for anyone considering consolidation, there are some dos and don'ts to keep in mind.If you're thinking about a debt consolidation loan, make sure you consult with a professional knowledgeable about a wide variety of options, rather than someone who just wants to sell their product. It may be that you don't need a product at all -- just a profound understanding of your attitude toward debt and your spending habits, along with professional advice and help with budgeting. An important decision to make regarding your debt consolidation is how long you want the repayment period to run: lower monthly payments will mean a longer repayment period and increased interest. You will only land in further debt, even if you lower your payments, but do not change your old spending habits.Would you be better off with a debt consolidation loan or a debt consolidation mortgage? Even though a mortgage might give you a lower Annual Percentage Rate also, more time to pay loans, your home could be at risk.If payments on your debt are becoming too much, it's time to do something different, a debt adviser will be able to help you in making certain decisions. Do you need to get out of the red? Everyone's situation is different and not every situation is applicable to every person. As such, a debt advisor can be quite helpful in choosing the right one. Don't charge the debt consolidation loan you have taken to credit cards, store cards or overdraft accounts. However, you can compound the problem if you make more purchases on those accounts while using the consolidation loan to pay off your previous debts. Adding new debts to your old ones will only make the debt hole deeper you are trying to get out of, keeping one credit card for emergencies will only be a good practice if you have taken the time to carefully evaluate how the debt was created in the first place. What habits do you have that lead to the amount of debt you currently owe? Since to goal of debt consolidation is to enable you to pay off your old debt without encumbering yourself with new ones, it's important to make sure you understand how you got in trouble in the first place, and how to avoid it in the future.