Im Looking at a lot of credit card debt and its beginning to become to much for me. What services if any are the best to use when looking to consolidate? Fyi im have about 7 different credit cards with some substancial amounts on them!!Help Please!
What is the best debt consolidation service to use?
NONE!
You don%26#039;t need anyone to do it for you. All they do is negotiate your debts for you and collect a fee. You can do it yourself!
Call all of them and work out a payment plan and try to get your interest lowered or stopped.
Then, make the minimum payments on every one of them. On the lowest dollar value, put all your extra effort toward paying it off. Once it is paid off, then roll that extra money to the next largest balance. Continue this snowball until all your debts are paid off.
You proabbly need to cut your expenses back to the bare minimum. Get rid of cable, cell phones, internet, etc. Lower your electric bill, gas bill, water bill, etc. Don%26#039;t eat at a restaurant until your debts are under control.
Try to increase your income by getting a second job. If you have a car with payments, get rid of it, and buy a good dependable used car for CASH.
Go to the library and get %26quot;The Total Money Makeover%26quot;. Read it and follwo it carefully.
Go check out Dave%26#039;s website as well.
www.daveramsey.com
Reply:Get valuable tips on debt consolidation from http://moneymentor.cashmatter.... . It%26#039;s a very useful website. Report Abuse
Reply:There is a great place to go with this. I was in a very similar situation.
This is getting help from real people without the use of banks or credit card companies. Good Luck!
http://www.prosper.com/join/lzc5wh
Reply:The best solution is bankruptcy not debt consolidation. If you have no assets file chapter 7, if you do file a chapter 13. Consolidation will do you no good and keep your credit in disrepair for the time it takes to repay the debt. 1-2 years after bankruptcy you can buy a house or car. You can%26#039;t do that after debt consolidation.
Reply:Consolidation is the best solution available to the credit cardholders to improve their future credit. People go for debt consolidation for many reasons: prolonging the loan period from 5 - 15 years and reducing the interest rate. Consolidation allows you to go for a loan with lower interest rate than the one you are currently paying. Besides it simplifies the loan repayment as you are paying only one lender in place of various payments to different lenders.
Reply:If a person has accumulated a large amount of credit card debt due to multiple credit cards, the need for a proper counseling for credit card debt consolidation can%26#039;t be understated. Credit card debt consolidation counseling helps a person get vital insights into the facts that can help him get control over the credit card debt.
Credit card debt consolidation counselors are experts with a good knowledge of debt management, budgeting and behavioral patterns of credit card holders. These services are vital for those struggling to manage their credit card debts. Also called credit counseling or debt counseling the credit card debt consolidation counseling brings immediate relief to a credit card holder.
A person seeking credit counseling can get it from two types of organizations. The professional or commercial organizations, and the non-profit organizations. As depicted by its name or categorization, the commercial organizations charge money for their credit counseling sessions and consolidation help on the other hand the non-profit organizations offer free of charge services. Just because the non-profit organizations are free, it doesn%26#039;t undermine their quality of service. The persons associated with such organizations are thorough experts and have lived the trauma of being under credit card debt themselves and hence bring their vital experience to the credit card holder.
When a person approaches a credit counseling agency, the first thing it will do is to take stock of the situation and get various facts about the credit card debt. The credit counseling agency collects data about the income, expenditure and spending habits. It will guide the credit card holder about budgeting benefits and try to inculcate good financial habits. Read more from: http://www.credit-card-gallery.com/artic...
Reply:Speaking as a nationally known credit score and mortgage lending expert (book, radio shows, newspaper columns)...
These services and their industry have a well-deserved bad reputation. I%26#039;d stay away from such a service and handle things yourself.
Numerous clients of mine have complained. I%26#039;ve never heard a nice word about any such firm.
Reply:Consolidation is the best solution available to the credit cardholders to improve their future credit. People go for debt consolidation for many reasons: prolonging the loan period from 5 - 15 years and reducing the interest rate. Consolidation allows you to go for a loan with lower interest rate than the one you are currently paying. Besides it simplifies the loan repayment as you are paying only one lender in place of various payments to different lenders.
Reply:I don%26#039;t like em.
Gonna just pay em off I think.
Reply:Debt consolidation is an excellent way to turn several monthly payments from loans, credit cards, bills, etc, into one lower monthly payment. This can save you a lot of money in the long run by lowering your interest payments.
The best way to find the consolidation loan that works for your specific needs is to compare as many lenders as possible. To do this simply contact lenders and request a free quote. You can do this one at a time, or use a free service, such as the one mentioned in this article http://ezinearticles.com/?Find-the-Best-... to compare several lenders at once.
Debt consolidation is a step in the right financial direction if you are overwhelmed with debt. With a little research you%26#039;ll find the right loan! Hope this helps!
Reply:1. cut them up!
2. cancel the accounts!
3. pay off your debt and don%26#039;t borrow anymore money for things you don%26#039;t really need!
i%26#039;m going to send you a bill for this advice
lily
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