[Nik]

What is the benefit of using debt consolidation for credit card debt? I am trying to decide to either call the credit card companies myself and negotiate for a lower payoff/settlement amount, or to use a debt consolidation company? If I negotiate with the credit cards directly, will that be considered a charge off? I would want to settle myself if I can to avoid paying all the months of high interest. But if I use debt consolidation, then they will charge me a fee every month for so many years? What is their purpose? What would be the best route to go financially? ------