| Debt consolidation really works? |
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CaliChristian
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Have you ever considered getting in touch with a non profit credit counseling company. They are usually able to help you lower interest rates so you are able to pay off your debt faster.
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Thu Sep 16, 2010 9:29 pm |
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BobF
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Location: New York
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Debt consolidation is a really helpful option and it works. I've tried it by myself and don't regret at all. I've got the lowered interest rate and now I can manage my monthly budget. It's really useful service, I think. Of course, it's up to you to deside. Good luck!
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Wed Oct 20, 2010 8:23 am |
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littleroc02us
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Did you know that Debt collection companies break federal law all the time and are the top of the list yearly for complaints to the Federal Trade Commission?
Risk comes from not knowing what you're doing. (Warren Buffet)
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Fri Oct 22, 2010 1:34 pm |
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cdloanmod
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| Debt consolidation really works? |
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Yes, I think Debt consolidation is a very good option for Rate reduction, Debt repayment plan, Reduction/elimination of late fees and last but not least improve your credits. There are some other benefits of Debt consolidation so it really works.
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Tue Jan 11, 2011 11:53 am |
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statha
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Of Course work. I think Debt consolidation is the best option and that really works. I done before two year ago and really satisfied and get better result. Now having proper monthly budget and saving.
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Wed Feb 02, 2011 11:04 am |
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nwcdrfinancial
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Debt consolidation really does work, yes. And while people could essentially do it themselves (to an extent), using a BBB accredited firm will help you in the long run--they have strong relationships with the creditors and can really negotiate your interest rates.
For example, if you do it yourself, let's say your minimum payment is $96, and even though you know you should pay over the minimum, your budget doesn't allow for it. With a credit counseling/debt consolidation company, they could have your payment stay at $96 (sometimes lower) and the interest rate would shift, so that even though $96 used to be your minimum, now it contributes more to the principal rather than just paying the tacked on interest.
So, if you can't afford to make higher payments, but still want to pay the balances off in a few years (rather than 20, which is what minimums will get you), then you DEFINITELY should explore taking a free consultation with a credit counseling company.
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Thu Feb 03, 2011 4:06 pm |
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Esmay00
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It can work if you are in a situation where it is the final resort. Make sure it's a reputable one, do some research on line . Some of them are "fly by night" and take your money but then close shop and don't help you. Start by googling debt consolidation and try to find one that's local where you can go to an office. See if they have references. Ask your friends if they have ever used one and did they like them etc.
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Mon Feb 07, 2011 9:19 am |
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yuanyelss
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Location: China
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Couldn't you do debt consolidation by yourself? I mean, if you put all debts into one manageable debt isn't that consolidation? 
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Sat Feb 12, 2011 7:45 am |
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Zubin
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Debt consolidation is a helping hand for persons who think that their debts are become difficult to pay off. If multiple debts are causing headaches then consolidation loan is the best option. It helps in managing financial issues.
No fake signatures - thanks
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Wed Apr 27, 2011 6:43 am |
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chrisharper
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Yes, but its just basically debt, such as editing. It dosen't debt. Debt is a better way, and its only setlement people you work is a scam, scam artist. Find a lawyer in a company by many people, many of the back
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Tue May 03, 2011 2:06 pm |
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cccfree
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Debt consolidation works OK, but I would check out credit counseling before you do debt consolidation.
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Tue May 10, 2011 9:58 pm |
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cccfree
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It really matters what kind of debt you are looking at. What type of debt do you have? Mortgage? Charge offs? Judgements? Credit card debt? Car loans? Re-possessions?
I would say if you have just, straight credit card debt that I would try and call the creditors myself and get the debt paid off! You can also look into speaking with a non-profit credit counseling organization.
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Thu Jun 23, 2011 11:11 pm |
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Eric80
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For some people, debt consolidation can be a great and worthwhile idea. It depends however on your level of debt, income and current repayments, but lower monthly repayments are often possible. However, debt consolidation may not be helpful if you have debts over £12,000 - £15,000 and are struggling to make the repayments. That’s because taking on more financial responsibility is likely to make things worse, particularly if the loan is secured on a property. An IVA (Individual Voluntary Arrangement) may be the best choice in this case.
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Thu Aug 11, 2011 3:45 pm |
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