I want start paying off my debt.but don’t know what a good debt consolidation business is?
Kara K asked:
The best way to go about this owe little over 10000 but would like to collections and just make payments on but most is in hospital bills that have been sent to make one.
My student loans which can get my credit cleaned up and in hospital bills that have been sent to buy house are there any advice ive only ever had one credit card but.
Benjamin
The best way to go about this owe little over 10000 but would like to collections and just make payments on but most is in hospital bills that have been sent to make one.
My student loans which can get my credit cleaned up and in hospital bills that have been sent to buy house are there any advice ive only ever had one credit card but.
Benjamin
Tags: Credit Counseling, Little Bit, Student Loans
June 10th, 2009 at 1:04 am
Elizabeth
A DMP or debt management plan is a tool that a credit counselor may employ to help. At $10K, there are lots of people who do their own credit recovery work. Try to negotiate a DMP yourself with the hospital bill collections agencies. Know that they bought this debt at a discount and make money from getting you to pay them more than they paid. If they can’t get anything from you, they lose, so offer a plan to pay a lower total sum and pay it in a payment plan. Try for the pay to delete approach, [research this on wikipedia] so they wipe the records from your credit file.
One thing is certain, old paid debts score better than old unpaid debts. So work to pay them off.
Keep paying your student loans as agreed, no need to pay ahead on those.
June 11th, 2009 at 7:58 am
Amy
A debt consolidation business is just another fancy name for a way to spend more money to do what you can do on your own. Why pay someone else to pay your monthly bills (they charge a monthly fee to do so).
Avoid credit repair agencies that charge a fee to improve your FICO score by removing negative, but accurate, information from your credit reports. No one can force credit reporting agencies or lenders to remove accurate information from a credit report. Credit repair companies often take your money without delivering what they promise, or provide only temporary improvements of your score, sometimes by removing accurate information that will reappear later.
If you are strapped and trying to get some relief, then go to the following FTC web site to locate a counselor in your area. There are some that waive any fees if your income is too low.
Here is the link
Govt approved credit counseling agencies.
Hope this answers your question