If one looks at this closely and thinks it through, the job of a debt consolidation counselor is nothing that the debtor cannot do on their own. There are customer care people who are available to give appropriate advice for that situation. They are paid to do that and the debtor being a customer of the bank or that financial institution does not have to pay a penny for advise on money problems. What’s more, these institutions the debtor borrowed from are eager to get their money back and will be more than glad to help the debtor revive their situation.
Therefore the side effect is that the little money one needs to save up for paying off debts or debt consolidation loans are used to pay for counseling services and the advice may not be solid enough. In addition, monthly fees paid to counselors can be saved up to pay off debts. That is why it is always to choose only the best and reputable debt consolidation who work hand in hand to clear all your problem without take a big junk of your money.
