Question: #1: debt consolidation?
Hello all, I have a question regarding debt consolidation. I have about 15k worth of debt and have tried applying to two companies for a debt consolidation loan and was denied both times. I thought about trying what one of the other posters suggested , writing to the individual companies threating a voluntary bankruptcy order. I have about 10k in the bank, but I don't want to borrow from that lender because I wouldn't be able to use the money in my account. My credit is only good. What other options do I have? Thanks
- asked by Nicole h
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- answered by: Debt Is Dumb View All Answers (3)
Question: #2: What is the best debt consolidation service?
I have a few credit card that are past due and I'm not able to make the payments. What is the best debt consolidation company to use?Keep in mind, I'm not a home owner.I'm not a student and actually I'm looking for a better answer than the obvious budget and make more money.
- asked by Mr Sprocket
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- answered by: heybulldog View All Answers (5)
Question: #3: How do you know which debt settlement or debt consolidation program to choose, when theirs1000's out there?
How do you know which program is good and which one is right for you. I heard their is a way to check there beruo report or something, not sure what its called. How can you see the results and reputation of the debt settlement program or debt consolidation program.
- asked by Russ M
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- answered by: bdancer222
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Question: #4: What are the advantages and disadvantages of debt consolidation?
I have two credit cards that I have used over 5 years ago and never paid back. The total of the two cards FIVE YEARS AGO was $1000. Of course, by now, it should be close to $3000 because of all the interests.What does debt consolidation do? More importantly, can it REALLY remove or reduce the interest that built up over the last 5 years?When doing a search for debt consolidation services, I get THOUSANDS of results. Which debt consolidation services are better?Detailed answers would be appreciated.Update: Am I correct to assume that if I leave the debt as it is, I can have it completely wiped off my credit card two years from now as if it never happened?
- asked by jimmyaven
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- answered by: Idiot_Savante
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Question: #5: Where can I find a personal debt consolidation loan for people with bad credit?
I am in dire need of a debt consolidation loan and I have bad credit. I can make things work with $5000, but I do not know where to start. I have seen people with yahoo addresses claiming they can loan money but they sound fishy as it is not a company email, their emails always seem to be yahoo. Any info will help. I fell on hard times and am now able to pay my monthly bills but I cant seem to catch up what I fell behind on. PLEASE help asap. I have a 5yr old and I do not want him to suffer us loosing our home or car.
- asked by sonija
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- answered by: Gary H
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Question: #6: What is a good, reputable debt consolidation company?
I am thinking about doing debt consolidation, but am confused by all the different companies out there. I have heard that there are a lot of shady companies. Does anyone have some helpful advice. My debt is not a huge amount ($6000), but I am tired of paying and paying on them and never seeing a difference on the balances.
- asked by crazyone
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- answered by: son-shine
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Question: #7: what is the best debt consolidation company?
I am looking for the best debt consolidation company to help get me out of the mess I am in. Suggestions?
- asked by RONALD L
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- answered by: americanfreeman View All Answers (4)
Question: #8: What exactly happens to your credit if you do debt consolidation?
I have $7,000 in debt and I have heard about debt consolidation. Does this negatively affect your credit rating? Do you get to choose how much you pay monthly or is there a set amount they make you pay? I live in Canada, if that matters.
- asked by monkeyundermypillow
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- answered by: amyhwoods
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Question: #9: Anyone know any good way to get a decent debt consolidation loan?
I want to get a debt consolidation loan, WITHOUT using my home equity, but they are telling me my credit score is great, but by ratio is too high. Well, I want to consolidate all the CC debt I have, but it's running me in circles. What's the point of trying to get a consolidation loan if they won't lend it to you because you have too much debt? Does anyone know of ANY bank or anywhere I can turn to that understands and can try and help me? Thank you for your help!
- asked by Brad M
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- answered by: Bruce H
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Question: #10: Can I get a debt consolidation loan with bad credit?
I would like to get a debt consolidation loan for my outstanding debt from closed credit cards, old utility bills, etcI have student loans, but I would like to consolidate them separatley and not through another loan. Also, I have an auto loan, would the loan be able to cover that as well?Please, real answers, and no opinions/judgements.Thank You.
- asked by mrbearpro
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- answered by: millenium_ryan
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Question: #11: What are the advantages and disadvantages of having one of those debt consolidation companieshelp you?
If anyone has any experiences with good or bad in dealing with a debt consolidation company let me know. Would it be a good idea to have one help me if I have about 4,000 dollars in debt?
- asked by hotsing1
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- answered by: sdmike
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Question: #12: Where can I go to get free debt consolidation?
I need to lower all of my bill. I want to get into a free non profit debt consolidation.
- asked by Teri M
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- answered by: Georgia Gal View All Answers (11)
Question: #13: What are your chances of getting additional credit while still in debt consolidation?
In a debt consolidation program is it likely that you will be able to obtain additional credit?
- asked by E G
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- answered by: mister ed
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Question: #14: Bank loan or debt consolidation program for credit card payoff?
Due to a family tragedy, my husband and I are currently in $26,000 of credit card debt. All of the payments are current and the cards are paid on time with the accounts still open (we are not still charging, though). We are looking to seriously pay this down before the interest eats us alive. My husband wants to take out a bank loan and pay the cards off that way, but I am wondering about the debt consolidation programs you hear about (I know some of those are scams and some are real). Any advice or experience?
- asked by honhill
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- answered by: Steve R
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Question: #15: What are the options with consumer proposals and debt consolidation ?
I am considering filing bankruptcy. I know that consumer proposals - debt consolidation are another option. If anyone can give me information on this it would be much appreciated and the most thorough answer will get 10 points - again thanks.
- asked by Andrew
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- answered by: Claire
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Question: #16: Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?
When you consolidate debt, it shows all old debts as being paid, etc, but the one new debt ratio, which is the amount being owed to the consolidation company will be huge. QUESTION: Does It lower the credit score to have a huge debt ratio like this?OTHER QUESTION: and you also want to have say, 3 credit cards, (3 of them is the number you want to have a good credit profile, right), then the debt consolidation companies close your credit cards or do they not? How does it work
- asked by Sprocketts K
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- answered by: calalum1996
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Question: #17: Is it recommended to use debt consolidation for credit card debt?
I am approximately $25k in debt, should I use a debt consolidation agency?
- asked by m_snider9430
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- answered by: Waine
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Question: #18: Do you have to own a home in order to take out a debt consolidation loan?
I would like to consolidate my debt and have seen information on debt consolidation loans. I do not own a home but am interested in consolidating my debt. What options do I have?
- asked by MartinVLee3
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- answered by: Studly
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Question: #19: Can I get a debt consolidation loan as a home loan but with no equity?
I am trying to consolidate my credit card debt because the payments are too high each month. If I could get a home loan this would be perfect. I am having difficulty making all the payments and I don't want to completely ruin my credit. Any reliable consolidation advice would be apprecitated!
- asked by Cassidy S
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- answered by: Phil O' Brien
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Question: #20: Is this the way that a debt consolidation company works? They reduce the amount?
What is a good debt consolidation company that will negotiate what you owe by negotiating with the creditor, and then you owe less than before to each creditor, but you owe them for one big new loan , to them for paying your debts? So they are getting your debts down by negotiating and then give you a consolidation loan to cover the amount owed to them now?
- asked by Brycleyn Q
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- answered by: mrpaul
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Question: #21: Do you have to be behind in paying to qualify for debt consolidation?
Also, can a revolving line of credit (it's also a atm card) be included in a debt consolidation? And can I choose to leave out a loan or specific credit card where I have 0%?
- asked by Sam
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- answered by: heybulldog
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Question: #22: Should I look into Debt consolidation with my credit card debt being $6000 or should I worksomething out?
Should I go to a debt consolidation company or work it out amongst myself?
- asked by TiF
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- answered by: ekibitz
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Question: #23: Is it better to use a debt consolidation service or contact creditors directly?
I owe on 3 credit cards. One is starting to fall behind on the payments as its too much to pay. Which route is the way to go? Debt consolidation or contacting creditors & explaining that I was living beyond my means & now I am having trouble paying. On the one card I'm having trouble with (Chase), my monthly balance is $299 but I can afford to pay $180 a month to them. I've heard horror stories where people get the WORST treatment when they try to set up payment plans with credit card companies. Do most companies decline an offer of a payment arrangement? I can get back to more payments in January or February but now is hard.
- asked by Margene H
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- answered by: grierGRIER h
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Question: #24: Is there a government agency that helps with debt consolidation?
I need a reliable trustworthy debt consolidation service quickly. I've heard that most advertised agencies are to be avoided.
- asked by Chubby
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- answered by: amanda b
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Question: #25: Need a knowledgeable debt consolidation attorney in the Plano, Texas area?
I have about five to six unsecured debts [no credit cards] that i need to consolidate and make one payment or like. Bankruptcy is not an option for me. The total is around $10K. I am not interested in debt consolidation agencies, so far the ones i have talked to, i know more what to do than them...I can make monthly payments toward the debt and also pay reasonable fees and/or % of satisfactory arrangements. Anyone knows a serious, good attorney in the areas that i can contact for a free consultation. Thank youMr Gerald, with replies like yours no wonder you have so many answers....I am retired, disabled, soc sec, and yes i still work, as allowed...so your easy out is poor at best....thanks
- asked by Man of La Mancha
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- answered by: Gary H
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Question: #26: How can I get a debt consolidation loan? Everybody's turning my husband and I down for toomuch credit!?
My husband and I are trying to straighten out our finances because we have a lot of debt (credit cards mostly) and we want to buy a house. Everyone tells us that getting a a debt consolidation loan will help because we can combine all of our debts into one monthly payment, but we kept getting turned down or offered a low amount because we have too much credit being used. What's the point of a debt consolidation loan if your too much in debt?
- asked by Jenn
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- answered by: Guna
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Question: #27: should my husband and i settle our debt or should we go through a debt consolidation?
We are about $2300.00 in debt with alliance one and i think $900.00 in capitol one. We have a debt consolidation with Federated Financial. But I was thinking that maybe we should just settle with both of the debts ourselves because federated financial charges $29.00 a month and it will take us like 3 years to pay it off, if we go through them. What is the best choice?
- asked by cindi_chean
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- answered by: ---
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Question: #28: Has anyone actually had success using those debt consolidation companies?
I'm wondering if anyone has had any success using those debt consolidation companies and if so, what's the process of it? How does it work and will it really work at lowering your interest rate/debt owed? And what company(ies) did you use? Thanks!
- asked by MiM
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- answered by: _nicole_
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Question: #29: are there any debt consolidation service companies in the philippines?
i've heard and read about this debt consolidation services online but havent found any in the philippines. anyone know if this is available here?
- asked by cricket
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- answered by: imisidro
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Question: #30: What company or companies gives out debt consolidation loans to people with bad credit?
I want to know if you personally found a company which considered your case and gave you a loan even though you have bad credit and outstanding balances. I have researched enough about counseling and debt consolidation loans. I just want to know who has actually gone through the process and which company you used. Thanks
- asked by eighb
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- answered by: dreamscorporation
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