Lender BBB offers debt consolidation and debt settlement services. Debt consolidation is combining several unsecured debts credit cards, medical bills, personal loans, payday loans, etc. into one bill. Instead of having to write checks to 510 creditors every month, you consolidate bills into one payment, and write one check. This helps eliminate mistakes that result in penalties like incorrect amount or late payments.
There are three major types of debt consolidation: Debt Management Plans, Debt Consolidation Loans and Debt Settlement.