Internet's first get-out-of-debt community - 129,000 members

Posted: Sun Mar 12, 2006 6:06 am Subject:

I would first let the debt counselors send out the proposal letters to the creditors so they can send something out. You can e-mail them or call them to let them know you will be working with T &C on your account. Just let them know to direct all questions to T &C and give the creditor their phone number. Cool

Posted: Sun Mar 12, 2006 7:57 am Subject:

Hi Mishele,
Will you please send me the info as well?

Thanks! Sue

Posted: Sun Mar 12, 2006 12:08 pm Subject:

I sure will Sue Very Happy

Posted: Mon Mar 13, 2006 9:02 am Subject:

Does debt consolidation hurt your credit or does it help in improving it? And how do payday loans effect your credit. I was told that going into debt consolidation hurts your credit at first but then it improves it in the long run. Also im assuming I cant use my credit cards once i enter the program?

Posted: Mon Mar 13, 2006 11:06 am Subject:

fka,

Debt consolidation is helpful to improve your credit in the long run. When the process is going on, your credit report might show that the accounts are under consolidation. But this remark is quiet good in comparison with default, charged-off or collection. Your creditors will understand that you are not ignorant to your bills.

Credit cards are made inactive temporarily for the sake of the service. Your counselor sets the payment plan depending upon the total amount of debt. Now if you continue to incur more and more after entering into the program, you will not be able to see the benefits of consolidation. As a result your debt free days will be delayed.

Once all the accounts are paid in full, there is no problem in using the cards any more. Hope this helps.

Posted: Mon Mar 13, 2006 11:13 am Subject:

stanley thanks for the response..would you say it is a good idea to keep one credit card out of the consolidation program so that i may use it in case of an emergency? do they allow this or do all of your accounts have to go into the consolidation program?

Posted: Mon Mar 13, 2006 11:33 am Subject:

You can keep any of your account out of the program; there is no hard-and-fast rule with this.

You can keep one of your cards aside for emergency. IMO, you can discuss this issue with your counselor too. The counselor can suggest which one not to be included in the program, so that you do not face any problem in future.

elizabeth camarillo · Posted: Mon Mar 20, 2006 1:54 pm Subject: helpwith payday loans

I have about 1500.00 in payday loans, can these people take me to court and pursue charges, should i close my account or tell the bank to suspend all ach transactions from the payday lenders, i need help fast this people are driving me crazy, i am so worried that i have been under a lot of depression and taking meds due to this. please help.

help · Posted: Mon Mar 20, 2006 2:00 pm Subject: paydayloans

i need help with payday loans paying them off who can i call, it is gotten so bad that i have to take medicine becuase i am under depression from this, i am having financial hardship, right now. help me tell me what i do? are these debt consilidation programs legitimate?

Posted: Mon Mar 20, 2006 4:51 pm Subject:

Hello Guest,

Please sign up, so that the forum members will be able to PM you.

Thanks,
Stella Very Happy

ipaymybills · Posted: Mon Mar 20, 2006 9:40 pm Subject: TIME STEALING EMPLOYER=PAYDAY AVENGER

edited by denny:
Deleted the post by ipaymybills.

Please read my response to ipaymybills post on:
http://www.debtconsolidationcare.com/halloffame/shirley-2.html

It was a similar post and I did not want to waste my energy replying to him again over here.

Warning to ipaymybills:
Please do not test our pateience. One more of such posts and we will have to ban you.

sheltymama · Posted: Mon Mar 20, 2006 11:34 pm Subject: paydayloan consolidaiton/relief

Help! I have payday loans too and need to get off this merry go round! I have $2100.00 in loans due. Where do I get the info the other posters have talked about?

Posted: Mon Mar 20, 2006 11:50 pm Subject: Debt Consolidation and payday loans

I just recently enrolled in a debt management program with ACCC and have made two payments and getting ready to make a third. I didn't know about adding payday loans. Can I? I didn't tell them about them, because, of course, I thought I'd be able to pay them off. Should I try another separate company for the payday loans or see if I can add them on the ACCC program?

Posted: Tue Mar 21, 2006 12:20 pm Subject:

sheltymama,

Ask your consolidation company if they will help you consolidate payday loans. It will be easy for you to deal with one company. If they don't, PM me for more info.