If you are considering hiring a debt consolidation company, know the correct questions to ask. I have gathered a list of questions over the years. My clients educate me on so many things, it is amazing.
Ask:

How long they have been in business, are they a corporation, do they have references? Learn more about their practices on Google and the Better Business Bureau.
Ask them to email you a contract so you can thoroughly digest it. Look at their services carefully. Draw up a list of questions. What is the cancellation policy on the contract and will you get a refund? What monies will be refunded? Find out their Monthly fee for the service. Ask them to explain their method of negotiation. Is it with one creditor at a time? What happens to the other creditors during this time? Can other creditors report defaults on your credit reports? Can creditors suit you in the interim? Ask how the settled debt will appear on your credit report and how long will it be on your credit report. Is there a ‘stay’ on creditors contacting you like there is in filing a Bankruptcy? Ask them how your debt forgiven will affect your taxes. Ask them to explain what a 1099-C is. Ask what the advantage of hiring a debt consolidation company is over filing a Bankruptcy.