What are some legitimate consumer debt relief strategies?

There are a lot of companies that promise you the world when it comes to consumer debt relief. Unfortunately, many of these unscrupulous companies give new meaning to that old saying about how if something sounds too good to be true, it probably is. If you are struggling with consumer debt, there are real options out there for you though- you just have to know where to look.

Legitimate consumer debt relief strategies include:

• Creating your own "debt consolidation loan." While companies that offer "debt consolidation loans" are usually a bad deal because the interest rates are high, there's nothing that says you can't make the practice of consolidating debt work for you. If you are able to qualify for a lower interest personal loan, then you can take that loan and use the proceeds to pay off more expensive credit card debt. Some people even do this with a home equity loan, although you need to be cautious about this because that involves putting your house at risk.
• Settling your debt... but not necessarily with a debt settlement firm. Debt settlement firms usually charge you fees for something that you really don't need them for. Settling your debt is as simple as negotiating a deal with the lender. While you probably don't want to do this totally on your own or you could end up with a bad deal or even out the cash without your deal being enforced, you certainly don't need a "debt settlement company" to help you do it.

Your best bet if you are looking for a legitimate way to deal with your consumer debt is to contact a debt settlement attorney. He can explain to you what all of your options are, and he is bound by the code of ethics of his profession to be honest and to put your interests first.