[twokidtwocat]

I was just wondering how it is working out for anyone in a bill consolidation program now.I know the consultation is free,but what is the average cost once you sign the contract?

How much is the small fee that bill consolidation companies charge? What are the average monthly payments including fees? I'm still not sure if I want to go that route yet. My main worry is the time frame that it takes to begin. I have never defaulted on a loan and do not think I can handle the harassing phone calls,but its getting harder and harder to pay these bills.

I guess I just feel that I got myself into this mess and now I must get myself out.Its not the payday loan companies that did this to me,I did it to myself. ops:

[Rhonda28]

Are you looking to consolidate payday loans? I know a few people mentioned a bill consolidation company by the name of BHR &Associates. I personally have not tried them. I have tried working with the individual companies after I defaulted.

[twokidtwocat]

Yes the payday loans are my main problem,I have a few credit cards,but if I didnt have the payday loans,I would not be behind on them.I was just wondering how much the monthly payments were on average.Which payday loan companies are willing to work with you and which ones arent?
Thanks for your reply.

[chmartinbaby06]

I haven't tried BHR & Associates but from what I here on the forums they are a good company to work with.And most of the payday loans if you explain your situation to them they will most of the time try to set up arrangements were they can work with you!

[Taquita]

I am in a bill consolidation program. All of my debt is credit cards and medical bills. Thankfully, I don't have any payday loans.

The interim process was very tough for me. We were having difficulty paying the bills, so we certainly couldn't pay the bills and the consolidation program. We got alot of calls, so for the most part, I left the computer on the internet and anyone who needed to get ahold of me could call my cell.

It was very difficult for us to not pay our bills for the month, but we had to focus on the big picture. We had 15K of debt and in less than three years we will be debt free! And our creditors are still getting paid what we owe, but the interest rates, late fees and over-the-limit fees are gone, so we can make real progress on our debt - as Martha Stewart says - It's a good thing! For every one involved - us and our creditors!

Oh, and our payments for 15K of debt for three years is between $450 and $500, including the fees.

[roxette]

twokidtwocat, I have realized that most of the companies are not willing to work with payday loan companies because of the higher risks involved in it.

Taking payday loans are also not a good decision made at the first choice so we really need to work on our own so that we can recover from this situation.

I hope we will be able to do that only if we follow a restricted budget. A proper planning and management will be helpful to overcome this problem.

We should try to raise our income in as many ways as possible. Reduce the overall expenditure and contribute the money saved towards the debt account. This is the first thing that will be told to do by the professionals also. We ourself have to give a try first. The creditors will be willing to work with us if they realize that we are more than willing to clear the debt. If they get this impression, they will wipe off most of the financial charges and the late fees.

We need to give a try before it keeps on adding with financial charges and becomes an unbearable pain.

[shopaholic5]

yeah, I don't have a home phone number so none of my creditors could get a hold of me the month I started my consolidation program, but they found my mom's number and she was getting calls which started to become a bit harrassing. My mom told them off and they stopped calling her. I felt really pathetic when that happened and I explained to my mom what was going on. But once that first month passes then everything just feels better...less stress. Even though you are still paying a lot of money every month, it is very controlled and you don't have to worry about every single bill because it is all in one.

I pay 520 a month (just for the first 6 months and then it is lowered). But I have the option of paying monthly, bi weekly, or weekly. I have them take money every friday so it isn't a HUGE bill all at once. And a lot of people say "you could just do this on your own, you don't need a consolidation company". And well I have learned that credit card companies are more apt to listen to a consolidator and also if you aren't good at managing money to begin with...how are you going to manage doing all of it yourself. So I don't mind paying a fee for a professional to help. You feel like you are being taken care of rather than stressed out because you can't organize all your bills and pay them on time.
-Sarah

need to know how i can get help on my late truck payment to keep from repocession got laid off and im gettin back on my feet and i need help to keep my truck from bein repo

[Vikas]

can someone add some state specific bill consolidation laws to make this forum thread more informative

- Vikas

I OWE MY MOTHER ALOT OF MONEY ALSO FROM USING HER CREDIT CARDS AFTER I HAD MAXED MINES OUT, NOW I'M PAYING HER BACK BUT CAN I PUT THAT IN THE DEBT CONSOLIDATION ALSO?

what if we dont have credit card bills that are keeping us from paying our bills on time? we are pass due and cant seem to catch up.

Another option, work an extra part time job and use that to pay off the balance ASAP. Even though your only making $8.00 per hour. The interest you save in the long run increases this rate 10 fold. In interest savings alone, you could be making $80 per hour.

[LKSworkerbee]

Great point about the interest! Do people realize that only a small fraction of their payment is actually going to the balance of the account? Settling or consolidating - get rid of the interest!

Einstein was asked what the most powerful force in the universe is, and he answered, "Compound interest." So, by whatever means you use, get rid of interest payments and get debt free! Then save and have the interest work for you!