Debt consolidation is the action of having all one's debts payments lumped into one. Usually with a lesser monthly payment figure, to make it easier to manage those debts and offer a more predictable way to get out of debt. Various companies offer debt consolidation so the types of arrangement and costs can vary considerably.

Debtwave

Debt management rather than debt settlement is Debtwave's mission statement. They have been operating since November 2001 and are regarded as highly efficient and effective in a competitive financial industry. Debtwave is based in San Diego, California.

The Debtwave website is highly organized and systematic. Their category entitled "Services" is further divided into key services and each is explained thoroughly and effectively.

Debtwave services include:

Debt management Evaluating
Budgeting/Spending Evaluation
Credit Report Evaluation
Foreclosure Prevention Evaluation
Employee SWYM Program
Debt Management Program
Online Workshops
Financial Education Program
Wave of the future program

Debtwave's debt management evaluation program assigns a counselor to assess each case, keeping in mind an individual's current spending, attitude towards the debt and how he foresees his financial future. After lengthy and time consuming discussions, the best available option is offered.

Debt is managed by amalgamating all debts into one and the Debtwave counselor negotiates with the creditors, ensuring lower interest rates and other monetary penalties either brought down or eliminated. All this is achieved with the client's consent. DebtWave charges a monthly $49.00 service fee, which is included in the total payment.

DebtWave emphasizes the need, during their evaluation and education program that debt management cannot be achieved without discipline. Thus the client has to achieve his monthly payment plan. If, for some unforeseen reason a client is unable to comply, Debtwave needs to be informed, so that the debt paying process and credibility with the creditors is not damaged in any way.

The credit report evaluation is often daunting for a client. Debtwave makes sense of the credit reports and points out areas of improvement by counseling and outlining strategies, thus improving the credit profile.

Although debt management in all its essence is concerned with unsecured debts, Debtwave's foreclosure prevention evaluation goes a step further and helps prevent debts like a home mortgage from becoming troublesome.

Debtwave's most outstanding service appears to be their SWYM (Smarter With Your Money) program. This program is geared towards educating Debtwave employees. Debtwave relies on the research studies conducted to evaluate employee performance, and has recognized that employees under financial stress are less likely to have good job performance. It is now understood and statistically proven that such employees also have health problems and strained family relations, and thus the vicious circle of stress turns round. DebtWave values employee satisfaction and has devised a financial literacy program for employee assistance. One-on-one counseling is also available in certain cases.

DebtWave does not offer debt settlement services.

DebtWave's outstanding and superior service puts it in a league of its own, but client suitability and legitimacy of any company, no matter how highly it is rated, is a personal choice, which should not be based on reviews but actual interaction and experience.

Apart from their phone support, email access, FAQ's and very responsive online chat, DebtWave offers information about a client's individual account online. To keep a track of money being paid off from the debt, is comforting and motivating, and allows the client to recognize the amount of time left before he can be totally debt-free. Due to the sensitive nature of the information being accessed online, Debtwave ensures the strictest policy of security.

Furthermore, Debtwave's newsletter is also part of their financial education program, and lives up to its expectations, by providing tips on saving money and a lot more financial advice. Workshops and seminars that are online are highly successful and useful for educating clients on topics such as managing budgets, basics of the credit industry, retirement plans and making budget plans. It also has quizzes to assess your financial know-how. Identity theft is a newer dilemma being faced and Debtwave addresses this issue by emphasizing the hazards of identity theft and ways and means of preventing it and finally how to combat it once faced with it.

The Debtwave website has a calculator to help calculate how much a client can actually save, creating a budget and calculating the debt-income ratio. All these are helpful indicators in the process of debt management. Debtwave is accredited by the BBB (Better Business Bureau), which gives it a rating of A+, the highest rating a company can get. It is also a silver award winner by the Top10 Reviews website for maintaining high standards of debt consolidation and debt education. It is an ISO Certified Company and a member of the AADMO (American Association of Debt Management Organization) and the NACCC (National Association of Certified Credit Counselors).

Debtwave does generate positive vibes and has sufficient credibility and programs to support its claim to fame. Debtwave does indeed look like it's got the finger on the pulse to be the "wave of the future" in debt consolidation.

For more information on Debt Consolidation companys, go to Debt Consolidation.

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