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Many good people have fallen deep into debt and the experience can be terrible. Perhaps you became one of the many millions of unemployed Americans and now are unable to meet your credit card and mortgage payments. Or perhaps you over-extended yourself and now have montly payments that you can't afford. Once you miss a payment, the interest rates on your credit cards or loans may change from single digits to as high as 25%. Then the payments that were once difficult to pay now become impossible for you to pay.
Fortunately, there are companies that specialize in helping people with debt problems. For example, companies that specialize in debt consolidation allow a person to combine several several outstanding debts into a single account with a lower interest rate and lower montly payments over a longer period of time.
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