Hello,

This is my first time on these forums and after reading around for little bit i decided to ask a question reguarding my girlfriend.
She has a debt on Marshal Fields credit card which is $3200 ($175 minimum payment) and also two small credit cards where one is $400 ($20) and other is $200 ($10) that is pretty much it
She has a car loan for $6500 ($180) and $1200 ($70)student loan, plus her insurance is like $220 a month
Reason for my post here is that she is unable to keep on top of her bills due to really high interests on these cards. She has been paying little over minimum payments on everything as i listen in parantecies
She does pay her payments on time but she is just unable to move forward whatsover
Living paycheck to paycheck is just not an option
I want to see what will bill consolidation do for her
We tried applying for lower interest cards and balance transfers but she got declined
So I want to see what your thoughts are on this. Will it mess up her credit, and can she somehow pay this debt off ASAP?? How does this work ???
She will have to get student loan for her school in future and she just needs to clear her bills up
HELP :cry: Thank You!

[roxette]

Hi Miki

Welcome to the forums!

Hope you are enjoying on the board.

Speaking about your girlfriend's debt, all the bills will be combined into one loan amount and she will be paying it in easy monthly installments. She will have to draw only one check each month to the consolidation company. They, in turn, will pay to your multiple creditors. A monthly statement will be issued by the creditors as well as the consolidation company showing the distribution of your money.

This program will be offered at a lower rate of interest and you will surely see the due amount shrinking down each month.

One more advantage of this program is that the consultant will be negotiating with your creditors and wipe off all the financial charges, late fees. This will reduce the amount largely and you will be offered to pay the installment as per your convenience.

http://www.debtconsolidationcare.com/benefits.html

debt consolidation program is seen with a positive view in order to improve your credit file. The lenders will appreciate your involvement in such programs. They will realize that you have taken the responsibility to pay off the past debt and improve your credit worthiness.

Once all the dues are paid, the creditors will update your file with the bureaus and there will be an increase in the credit scores. I recommend taking a consolidation program for easier monthly repayments and improving the credit ratings.

You can also take some more professional counseling from the experts. They will call you up at your given number and find solutions to your debt related problems. Stand by your girlfriend's side and she will feel truly supported.

Regards
Roxette

[shopaholic5]

Definately just talk to a counselor that is referred to you by here...find out more info and what they can do for your girlfriend.

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