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 Posted: Thu May 15, 2008 7:56 am Subject: How much unsecured debt can I get consolidated? |
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I have used credit way too much and now find myself with $140,000 in unsecured debt. I make a good salary ($180,000/year) and want to get the debt consolidated. I do not have equity in my house so that is not an option. Any suggestions?
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ts72722000
Joined: 15 May 2008
Posts: 1
Debtcc Points: 12
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| Posted: Thu May 15, 2008 8:03 am Subject: |
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I would suggest a Consumer credit counseling program called a debt management Plan or dmp. The Credit Counseling company will negotiate with all creditors to accept a lower interest rate, waive late fees and over limit fees and spread your payments out over 5 to 7 years. You will repay 100% of your current balance with a payment that typically runs about 3% to 4% of your total debt. Typically your interest rates will be as low as 6-10% depending on who your creditors are. The good news is that it doesn`t affect your FICO score and once you complete the program it drops off your credit report you were ever in a program.
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mobile0311
Joined: 05 May 2008
Posts: 1350
Debtcc Points: 7169
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| Posted: Thu May 15, 2008 3:38 pm Subject: |
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You probably want to speak to a debt counselor. promotional content deleted - Jason and fill out your info on the page and a debt counselors will contact you within 24 hours.
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JyBrd0403
Joined: 09 Mar 2008
Posts: 5
Debtcc Points: 112
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