We have high interest credit cards (23-28.74%) with high balances ($41,900) and looking to consolidate into one payment with one low interest rate. How does this work and what are the fees associated with your company for this service? Will my accounts then by closed until paid off?

[Jason]

Hi,

Welcome to the debt consolidation forum. Debt consolidation would be the perfect solution in your case according to me. The procedure is very simple. All you have to do is getting registered with a debt consolidation firm and from here the debt consolidation consultant will take care of your debts. He will negotiate with your creditor on your behalf and reduce your total debt amounts to a huge 40-60%. Moreover your late fees and taxes will also be eliminated. Your new debt amount will be restructured into easy monthly installments which will be easier for you to pay.

Your accounts will not be closed under any circumstances. So don't worry on this issue. So get going with debt consolidation and free yourself from the tangles of debt.

We appreciate your participation in the forum and expect you visit us again and allow us to serve you better each time. Share your experience and knowledge with other members of the forum and equip us with new ideas in debt related problems. Also check out our pub in the forum for the latest happenings.

Regards,

Jason.

[smashster7]

What is the fee?

Are you saying that we can join this program (for a small fee of course), you'll reduce our payments and interest, the company leaves our account open for use, and the company agrees to this?
Typically, we get into this debt situation because we make excuses for using our credit cards and the balances continue to grow, so if our accounts aren't closed, what's the benefit to joining your program?

TO JASON:
What does one do to lower payments, meet all debts, after emergency happens in their life, plus getting another job whereby the paydays go from bi-weekly to 15th and 31st, yet wants to retain her credit worthiness to qualify for a refinance on the home they own?

Please advise ASAP!

[Jason]

Hi Gabbie,

Welcome to the debt consolidation forum. In order to meet the crisis period of your life with a brave front and settling your debts opt for a debt consolidation package. Debt consolidation packages not only give you the most suitable debt solutions but also give you freedom from debts with the least impact. The debt consultant further counsels you to restore your former financial status. All you have to do is get yourself registered free of cost with a reputed debt consolidation firm.

Whether your payday is bi-monthly or bi-weekly it really does not make much of a difference. In order to maintain a good credit record, you have to pay your bills on time and clear your debts as fast as you can.

We appreciate your participation in the forum and look forward to hear from you frequently. Do come back to join us and share your views and insights with other members in the forum. We wish to serve you better with each passing day.

Regards,

Jason.

[teeniebop]

Dear Jason:

I don't know if I understand here....you said before that the accounts won't be closed afterwards? How can this be? I am in a situation now that is about the same as some of the others in this forum and I am paying my bills but now I am to the point where I am only able to pay the minimums and I can see for my self that the balances aren't going anywhere. Is it possible to close the account and still pay on them?? I want to close all of our accounts so that we can't put any more on the cc balances!!
Thanks,
Tina

[Vikas]

Will like to put my two cents here

Is it possible to close the account and still pay on them?

No, if an account is closed then from company's point of view it is not possible to handle it.

I want to close all of our accounts so that we can't put any more on the cc balances!!

No Need Tina, Just relax and tell your creditors the situation you going through and try to make a plan which is more feasible.

Tip: Creditors are good people, they allow reduction if you can discuss the terms of an arrangement, try some negotiation tips http://www.debtconsolidationcare.com...tion-tips.html