Bookmarks
Archive
« What is the difference between credit card consolidation and loan consolidation?
How can I consolidate my debt and does anyone here knows a good debt management program? »

 

Please Help: Could debt consolidation be good for me and my situation?

davester asked:



For particular company thanks in march could one of these credit card debt consolidation companies be useful for me starting some time in march could one any recommendations for particular company thanks in march could one of use to 14 am not working.

For me ive seen the overall amount will pay how could one of credit card debt on four different cards with aprs.


Viola

Tags: , ,

This entry was posted on Sunday, June 7th, 2009 at 2:31 pm and is filed under Debt Consolidation. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

4 Responses to “Please Help: Could debt consolidation be good for me and my situation?”

  1. Tru G Says:
    June 10th, 2009 at 4:45 am

    Chad

    yo

  2. Star Gazer Says:
    June 12th, 2009 at 8:02 pm

    Connie

    All those companies do is combine the amounts pay them off and assign you a higher percentage rate over a longer period of time. It is a scam as they charge you for the doing. Just call each of the credit card companies and explain that you would like a stay for X months. They may ask you to pay a certain amount each. THen make a calendar and just pay the minimums and you will get out of it once the job comes in. If you are no good at it then just walk into a bank and get a loan. Tell them what it is for and if you have collateral etc, like a car that can be used if it is paid off.

    I believe you best bet is to simply call them all and make arrangements. The card that treats you the best should be the one to keep. And going forward, YOU DONT NEED FOUR CARDS. Just get one good one and spend less money.. Good luck….chance favors the prepared mind….

  3. S. J Says:
    June 15th, 2009 at 7:28 am

    Troy

    Debt consolidation is very popular - with the companies who will do that for you - but your total debt increases - sometimes substantially, while the regular payments are reduced. The companies try to change the conditions of the debt - obviously to their advantage - while you get locked into longer and longer term debt.
    Don’t do it ! Struggle with you current debt, and cut up your credit cards. They will wait for their money as long as you keep paying regularly.

  4. Jessica Says:
    June 16th, 2009 at 7:49 am

    Darryl

    Please do not use a debt consolidation company… if you think about it, how do they make money? Off of you! You’ve got a few options. You can open a credit card that has a zero interest balance transfer option, and put your balance on it. The key with these is to never charge another thing on them, or else you’ll trigger interest charges.

    Or, you can continue making the payments on your current cards as best you can. If you call the credit card company, they may work with you to set up a payment plan that you can afford.

    If you need one on one advice, most communities offer free credit counseling. Just check with your local government or community center.

Search
Categories