Question : what is the best company for debt consolidation?
specifically credit card debt. i have a lot and the finance charges are pretty much washing out my monthly minimum payments, which are high. anyone have any experience with a good debt consolidation company or any suggestions? Thanks!
- asked by jimmyz
All Answers:
Answer #1
Hi - Debt consolidation companies will leave youwith all the debts you have now AND a fee for debtconsolidation. Don't bother using one. Call thecredit card companies, tell them your problem,tell them you don't want to have to declarebankruptcy (the magic word), ask them if they canplease let your next couple of payments all beapplied to principal. You'll be amazed. Good luck-
- answered by Irish Contrarian
Answer #2
Most debt consolidation agencies are just scams. Isuggest you try talking to a non-profit creditcounseling agency first. Try Consumer CreditCounseling Services or American Debt SolutionsInc.
- answered by yoko1san
Answer #3
Consider debt settement. Less payout than debtconsolidation and faster payoff terms. You willlface credit damage but its usually better thanbankruptcy. Feel free to contact us:
http://crusaderservices.com
- answered by Jason B
Answer #4
Most likely there are two ways to consolidate yourcredit card debts. One of the way is Credit CardConsolidation Loan, which is a type of unsecuredpersonal loan. Credit Card Debt Consolidation Loanshortly means one loan for all your credit carddebts. When you have several credit card debts,you can consolidate it into one lower, fixed rateloan. You make a single lump sum payment eachmonth to your credit counselor and he in turn willpay off to your current creditors. This isadvisable when your credit score is good as if youhave low score then you will get a high rate. Butthis loan will improve your credit score assubsequent payments are made to pay off the newloan.Another way is credit card debt settlementplan wherein a debt settlement company wouldnegotiate a lower lump sum payment to pay to yourCredit Card Companies i.e. your creditors off andas a result you end up paying fifty percent oreven sometimes lower, of your outstanding balanceto them.One of the company which I know is
http://ezconsolidation.com You can visit thewebsite for more information.
- answered by Jody S
Answer #5
There are big differences between debtconsolidation and debt settlement. I don'trecommend debt settlement at all. Many of thosecompanies can make things worse because eventhough you give them money towards your billsevery month, they don't pay your creditors untilthe creditors have agreed to accept a lesseramount for your bills. That can take months (orlonger) and you continue to get billed, interestand late fees will still be added and you can betaken to court. Plus you pay a huge admin fee tostart the settlement process (several hundreddollars) and you pay a fee each month. I highlyrecommend debt consolidation, though, because theydo pay on your bills for you every single month.It's true that there is a fee involved, but it'smuch less than with a settlement company. Many ofthem have a free consultation, so if you don'tthink it's for you after talking to them, thenyou're not out any money.I also higly recommendasking a lot of questions before you get into acontract with any company. Be sure you know howmuch their fees are, when they'll pay yourcreditors every month and what will be reported onyour credit report.
- answered by Dippy D
Answer #6
Just try the below one:
http://www.wahor.net/debt
- answered by Riya
Answer #7
Jimmy,Debt consolidation is one possibility, butnot always the best one.There's a good article ateHow on steps to take to begin tackling your debt. Take a look atit:
http://www.ehow.com/how_2326032_avoid-escalating-debt.htmlHow to Stop Escalating DebtYou can alsolook here for tips on earning some extra cashonline:
http://www.ehow.com/how_2254361_money-internet.htmlHow to make money on the internet,scam-freeLastly, here's an interesting alternativeto conventional lending...getting a "socialnetworking" loan from Virgin Money (from the samefolks who run VirginAirlines):
http://www.ehow.com/how_2310995_student-loan-through-virgin-money.htmlSocial Loans fromVirgin MoneyHope these help.
- answered by dave
Answer #8
Hi,I used "Credit Solution" to settle my debt andimprove my credit score.They managed to reduce mydebt up to 58%.It's legitimate.I came across thiscompany on NBC News Special Edition.Check it outhere:
http://urlbrief.com/c5f336
- answered by Jennifer
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