There are many options for cutting debts or consolidating them into one low monthly payment. Unfortunately, this is such a popular financial niche that many individuals find themselves falling prey to fast talking money lenders that will have them on the hook for money to their organization for decades to come. There are legitimate debt consolidation loan lenders in the world as well, however. The key to finding them is to perform thorough research before ever signing a contract. What most people don’t seem to understand is that a loan contract is an agreement between two or more individuals. This means that both parties are supposed to find common ground and accept the terms as reasonable. Too many people think that all the power lies in the hands of the loan lender. However, all borrowers do have the right to say the one word that can make or break a contract. That word is ‘no’.A legitimate debt consolidation loan lender will not act in a shady manner. Some might require collateral or an upfront payment on the loan. However, most will not. The reason for this is quite simple. Most people that need such services can’t afford an upfront payment. Anyone interested in acquiring a consolidation loan should look very carefully at the terms the lender is offering. If they offer incredibly low interest rates to an individual with poor credit and seem more than happy to lend them large sums of money they should be wary. This is especially true if the individual is required to make payments up front. If it sounds too good to be true, it probably is.There is a term known as a secured loan. However, if the amount to secure the loan is incredibly small in comparison to the loan amount this might be another warning sign. The best option is to do business with a well respected and trusted loan lender that has god ties with the better business bureau. This won’t completely prevent an individual from getting scammed but it will greatly reduce the risk. These companies will show you all of the legal options for debt repayment, settlements, and financial repair practices.Beyond finding the right company to work with there are also many options for cutting down debts. The company might offer negotiation services, for instance. The overall debt amount might be reduced by half or more with proper negotiation. The idea that the creditor will be paid in full for an amount they agree upon often causes many of them to happily negotiate the amount.