Ensure that you're working with a reputable debt consolidation firm and the counselors are certified. Check with the National Foundation for Credit Counseling, or NFCC, for reputable counselors and companies. In this manner, you can be sure of getting solid advice and assistance.
Do not get involved with a debt counselor that works for a company that pays by commission. This is a red flag as it's going to alter your situation according to the best interests of the debt counselor and not your best interests. Instead, look for a reputable company that pays their counselors accordingly.
What do you plan to do with the extra money you have each month once your payments are reduced? The best bet is to put it into a savings account. You never know when you might break a leg and need the money to pay off your medical bills, instead of going into more debt.
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