Credit Card Counseling Debt Consolidation

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I am looking for a good company to help us negotiate the rates on our cards that we used to start our business. And to hear from personal experience if this is a good way to go.

Best Answer

I've recommended the resource listed below to a number of folks, and they've all been pleased with the results. Just make sure that the company you go with is non-profit and doesn't charge you a fee. If they ask for a fee, go elsewhere fast.

She has over $25,000 of debt and has trouble making the minimum payments. We do not own a home and pay rent and auto loan monthly as well as the usual expenses. I looked at debt consolidation loans, and debt counseling sites and there is so much conflicting information. Anyone who has gone through the same or works in the field any advice?

Best Answer

We are in the same situation. Married and new kid with lots of bills from remodel, hospital, taxes etc. We are close to 30,000. I called all my credit card company and got the interest rate lowered or transfered to a fixed rate. I set up auto pay so don't miss any payments and cut up those cards. I got 3 cards one fixed at 3.9, 4.9, and 6.9. We are paying as much as we can on the 6.9 and then 4.9. We have a set amount so we make min payments on the first two till we pay the others off. Set up a BUDGET and stick to it. If you call them ask about getting a fixed locked in low rate. If they don't budge call again or ask for manager. Tell them your in financial bind and they will work with you and set up a lower monthly payment. Also check the interest rates she has and what penalty she is paying. Few phone calls and you can lock in your rate. Then DON'T USE THOSE CARDS. It is slow and painful but you will see the progress.

I have approximately $2000 of credit card debt that I absolutely need to get paid down. i talked to consumer credit counseling services, a debt consolidation company, http://www.cccsstl.org/ and this is what i was told: Basically they would cut my payments down to about $130 a month total for 3 cards by getting my interest rates lowered to between 6 and 10% approximately. I would pay it off in 2 years instead of 8 as i would now without consolidating. he said the $130 a month payment included a monthly fee of $49 directly to the credit counseling service for their help and services. Is that the normal thing when consolidating? Is that legitamet? I would only be paying $80 or so a month on the actual credit card debt and that doesn't seem like very much to me. Anyone have any knowledge in this area? Is consolidating a smart thing to do and does it hurt your credit in any way? Is there a smarter way to do it? LONG-sorry and thanks!

Best Answer

Don't touch it! Instead go to www.daveramsey.com He is a financial giant. Great advice there. Read Financial Peace , Total Money Makeover both by Dave Ramsey.

I have 2 credit cards and I am 21. One with a balance of 3000 and one with a balance of about 700. I cant afford my payments whats my best option? they have very high interest. I cannot get a loan to pay them off with a cheaper interest rate. Help please.

Best Answer

A possible alternative loan resource you may want to explore is www.Prosper.com, a site which puts private lenders in contact with private borrowers. A private lender may be more willing extend you a loan than a traditional bank.

I just want to know if counseling services has helped anyone and whether they recommend it? I don't mean just any credit card debt consolidation company, I mean companies that are non-profit like the NFCC. I want to start counseling but I want to know what is the success rate even though my accounts are charged off and I am in 9,000. Thanks!

Best Answer

Under your condition,I advise here for you to have a visit.http://debt-consolidation.featured- resources.info/consolidation-debt-loan- personal-us.html