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 Posted: Mon Apr 09, 2007 5:39 pm Subject: What happened.... |
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My wife and I have aquired some recent debt and the interest rates from a number of companies is eatig us alive. We were recently married in June of 2006 and bought a house. So of course we had to have all the nessecities to make a home. However , we have found ourselves in a bind with all the high interest payments. Lets see what happens through debt counceling.
Glenn and Ena
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dollgirlmimi
Joined: 09 Apr 2007
Posts: 1
Debtcc Points: 59
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| Posted: Mon Apr 09, 2007 5:54 pm Subject: |
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Speak with different consolidation companies and compare their quotes. A good company will get the lowest interest rate from your creditors and waive off most of the late payment fees. See the ranking chart
http://www.debtconsolidationcare.com/ranking-chart/
Go to your state page. You will find the top rated companies listed there. Do you know how much you owe in total? Go through your latest credit report and bank statements. You will need these details while speaking with a counselor.
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weeswie
Joined: 07 Aug 2006
Posts: 384
Debtcc Points: 5743
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| Posted: Mon Apr 09, 2007 5:57 pm Subject: |
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Debt consolidation may be the answer if all of your creditors will work with the company. But if it has come to the point that you have nothing left or just not enough at payday you might want to consider chapter 13. I have a friend that just did that. The high interest credit cards and car payments were killing him. So he filed chapter 13. He got to keep everything and he now has a little left after payday.
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puddlejmpr
Debt Samaritan
Joined: 15 Dec 2006
Posts: 1190
Debtcc Points: 2672
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| Posted: Mon Apr 09, 2007 6:00 pm Subject: |
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Sorry to hear that you are having financial difficulties. Are both you and your wife working? Maybe an extra part-time job could help temporarily. Just a thought---keep focused---you won't always be in this situation.
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Lorri
Moderator
Joined: 27 Apr 2006
Posts: 1707
Debtcc Points: 20856
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| Posted: Tue Apr 10, 2007 7:41 am Subject: |
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Before jumping into bed w/ a consolidation company, you should see what you can do own your own. Call these companies and try to get them to work w/ you in the interest rates, etc. See how low you can get them own your own, as opposed to paying someone else to do it for you.
WHats the worst they could say? No we won't work with you...its worht a shot!
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sswett
Debt Samaritan
Joined: 26 Mar 2007
Posts: 414
Debtcc Points: 4788
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