HFC - HSBC member  - Great customer service;  - Mediocre rates;  - Fast processing times.
	America's Lending Partner  - Poor customer service;  - Very good rates;  - Fast processing times.
	E-Loan  - Smaller online provider, rates quite    sensitive to bad credit;  - Poor customer service;  - Very fast processing times.

The main purpose of debt consolidation financing is to seek to better one’s financial situation through the use of simple debt consolidation product such as loans or consultancy service. The concept of debt consolidation to reduce the debt burdens isn’t new however it has only been recently embraced as a popular method to actually help manage the mounting levels of debts that consumers face with our credit happy society.

The most common method of debt consolidation financing used is to use a pseudo personal loan drawn up to the total level of your debts. This loan will pay off all your debts and you will only need to service this one loan instead of many separate loans which can be very confusing. The terms of this debt consolidation loan are often much better than the loans that it pays off as it is regarded as a long term loan, often meaning that the loan is stretched out to 10-15 years and the interest rates  and subsequently the monthly payments are reduced substantially, sometimes as much as half the original amounts.

In addition to the loans to help out in managing your finances, many lenders and consultants alike have also consultation services in the form of debt consolidation counseling or debt consolidation services. These services basically provide a finance professional who takes a broad view of your financial situation and develops a plan with you so you can take the reins yourself and guide yourself out of debt. There are also other services which are more hands on which actually have the finance professional develop a debt clearing plan and also negotiate with all your creditors to reduce your burden.

Most of the time people who have problems with their debt levels should consider the use of both of the types of products mentioned above to better manage their debts. The problem with these is that the initial costs may be quite hard to bear especially if you already are in a tight situation with debt levels. The benefits of debt consolidation financing are extremely high so we always advise our customers to take up their products and services if possible. The initial payment for the set-up fees for the loans or the consulting service will almost always be less than the savings you’ll get with the reduced monthly debt commitments.