personal debt consolidation
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Debt Consolidation
Asked by L.B. from New York
on March 25, 2010
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Hi Moms, We are thinking of hiring a debt consolidation company. Has anyone had any experience doing this? What credentials should the debt consolidator have? How ...
Answers
- Never a good idea. Read Dave Ramsay--he's not trying to sell you anything--just tech. And CUT UP the credit cards immediately! Otherwise it's like putting a bandaid ...
- I would imagine you are consolidating your debt because you need more money or can't make your minimum payments or something along those lines. Those are the reasons ...
- My husband works for MSI Credit Solutions.... I have gone through this company and it is AWESOME.... PLEASE give him a call and he would be more then willing to work w...
Debt Consolidation Anyone Done This Before ?
Asked by J.K. from Pittsburgh
on June 13, 2008
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Hello Moms,
I have been researching online about debt consolidation and am still confused. I have a lot of chargeoff's / credit card debt that i want to take care of...
Answers
- I am doing that now, I did a lot of research too, I did find a company that seems to be ligit, we have had no problems with them so far. I belive we are using Freedom...
- Another Dave Ramsey fan here! My husband and I are totally debt free (including no mortgage), thanks to working multiple jobs, cutting spending, and bargaining with c...
- do you own a house? if you do you can look into a home equity or a line of credit...rates are pretty low right now. Can request quotes if you use lending tree. Int...
Debt Consolidation- Advice Please :-)
Asked by S.B. from Gainesville
on April 22, 2010
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Hello ladies. I am trying to figure out this whole debt consolidation and whether or not it's good or bad. It seems some people are adamant about it being a horrible i...
Answers
- I would check out Dave Ramsey as well. He is adamently against debt consolidation and he has a method he recommends for getting out of debt. I'm not familiar with al...
- Debt consolidation companies do the same thing your friend can do, the only difference is when he does it, it's free, no fees. Either way it's going to be a pain he j...
- I would highly reccommend Dave Ramsey Financial Peace University. He has a great system that really works. My husband and I literally just graduated from this class ye...
Debt Consolidation Possibilities
Asked by O.S. from Birmingham
on September 30, 2010
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Loans to consolidate credit card balances are especially hard to find right now but I desperately want to do this to stop the revolving credit and get out from under t...
Answers
- My advice would be to absolutely do this as a last resort. Consolidating your debt can DESTROY your credit. Are you with a bank or a credit union? I have heard th...
- Check out Suzy Orman's website. Don't use a consolidating company- They don't do anything that you can't do on your own, but they charge $$$$. best wishes!
- Don't do it. It is as bad as filing bankruptcy on your credit report. You can do the same thing as the company would do. Read, The total money makeover by Dave Ramsey....
Debt Consolidation Is It Worth It/does It Work???
Asked by O.G. from Sacramento
on August 28, 2009
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I am currently in a lot of debt and looking at the possibility of using a debt consolidation company. Does any one have experience with them and can you tell me what t...
Answers
- I joined CNI a few years ago and they negotiated a good portion of my debt away. Look into them too, I cancelled all my cards and have bad credit for a few years but...
- Hi there, We looked into this last year when we encountered some of the same problems. You have to be really careful about which companies you go with - there are man...
- Several years ago I went with Consumer Credit Counseling and had a great experience with them. I learned my lesson and, as great as my counselor was, I plan on never ...
Need a Reputable Debt Consolidation Service/company
Asked by M. from Cleveland
on February 2, 2008
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Hello Moms!
I was wondering if anyone has ever used a debt consolidation service/company. I recently split from my boyfriend of 5.5 years. We have a 3 yr old son ...
Answers
- what getting a debt consolidation loan? pay all the cards off and then jsut have 1 payment...hopefully witha decent interest rate. i tried one of those credit couns...
- I work for a bankruptcy attorney, and have seen this over and over again. I want to urge you to use Azalia's advice below, because what happens with most debt reducti...
- You should read "Total Money Makeover" by Dave Ramsey!!! I couldn't put it down amd he is awesome when it comes to helping people get out of debt in ways that truly w...
Debt Consolidation vs Debt Settlement
Asked by J.H. from Minneapolis
on May 7, 2009
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Has anyone had experience with either debt consolidaton ot debt settlement? I am trying to decide which one will do the least amout of damage to my credit scores while...
Answers
- we used consolidated debt and we actualy made our last payment in febuary, it was a great feeling after 4 years. you can call and get more information before you commi...
- I definitely would NOT trust most of the debt relief agencies you hear advertise 24/7. The way I understand it, they have you stop paying all of your unsecured debt a...
- Well, I have had client's who have tried both of these, and they both definitely have their bad side. Many debt consolidators that you see on TV are nothing more than...
Bill Consolidation
Asked by K.G. from Fort Wayne
on December 1, 2011
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Have any of you wonderful mamas done a bill consolidation loan? We are currently paying $250 at about 24% a month just in the minimum owed, we do pay more on the cards...
Answers
- Only do a debt consolidation loan when you agree to cut up and close all credit cards. it's a vicious cycle. credit cards can be like a drug and addictive.... Use t...
- We did Care One debt relief - and while it may not work for everyone, our credit scores are higher than when we started, and in less than three years they are almost p...
- I've taken out a home equity loan and a personal loan that I have used to pay off other debt. Based on your post, it sounds like there is no reason why you shouldn't ...
Debt "Recovery"
Asked by J.G. from Chicago
on April 26, 2010
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I have seen on tv and heard on the radio commercials for a "government debt recovery" program for people with high amounts of credit card debt. Does anyone know anyth...
Answers
- Ok I admit I know very little about this, but the stimulous plan includes monies to be used to reduce debt. My understanding of it, is to prevent people from loosing ...
- http://www.ftc.gov/opa/2010/04/unitedcredit.shtm The FTC recently banned and fined several companies for this kind of solitations and making false promises. That ...
- Listen to Dave Ramsey on the radio if you are in Northwest IN it's 1230 AM WJOB from 2 - 4pm. To listen to pod casts go to www.daveramsey.com. He calls them debt "C...
Debt Mediation
Asked by C.A. from Dallas
on August 1, 2008
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Just wondering if anyone has tried debt mediation or credit counseling and what your results were. I tried to get a loan from the debt consolidation loan from the bank...
Answers
- I used a counseling service several years ago when my credit card debt reached $20K. I think I had about 8 credit cards then. They made it easy, I just sent them one p...
- I agree with most of the responders: Don't go to a for-profit credit counseling business. If you decide to go with a credit counseling service, go with a non-profit ...
- Hi C.! Please check out DaveRamsey.com before you do anything drastic!!! He is my Hero! I am strongly against consolidating debts, because the interest you pay for eac...
