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Sub: #1 Debt consolodation and credit ratings
Replied on 05-10-2005, 07:56 AM
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Does debt consolodation ruin your credit?

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Sub: #2
Replied on 05-10-2005, 10:24 AM
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Hi Guest,

All your queries will get solved if you can go through this complete thread http://www.debtconsolidationcare.com.../about132.html. Please visit often in the forums and I am sure many more queries will get solved like this.

Thanks with regards
Roxette

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Sub: #3 mother needs consolidation
Replied on 02-06-2006, 10:12 AM
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She has more debt than income, and needs help. For years, her credit was A1! Now, it's not bad, but she needs help. She has more bills than income. Please give advice.

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Sub: #4
Replied on 02-06-2006, 10:20 AM
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Meredith, your mother might get some help through the consolidation program. Register her in this site and wait for the consultant to call her. At present, if she is able to take care of her debts, her debt to income ratio will be in control or may even go down. I think she should opt for this program because the repayments are very much affordable and sent directly to the creditors.

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Sub: #5
Replied on 02-06-2006, 10:22 AM
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Well for us it was an easy decision. Our credit was pretty well going to be trashed if we didn't consolidate. I would have taken us over twenty years to pay off our cards paying the minimum payments, but through the efforts of our consolidation company, we will be debt free in three years. We are paying less than we were with all our minimum payments and they were able to negotiate lower interest rates! Our interest rates dropped from around thirty percent to a high of fifteen percent and a low as five percent.

The short term may be slightly negative, but the long term is definitely positive!

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* Disclosures:
  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
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