|
#1
08-05-2008, 12:08 PM
|
|||
|
|||
Debt consolidation=higher monthly payments?
Is it just me or is debt consolidation really not a help? Every company I have checked with, my payments will go up $200 per month. That is not very helpful to me. Any one have any companies to suggest.
|
|
#2
08-05-2008, 12:10 PM
|
||||
|
||||
|
Do you mean a debt management Plan when you say debt consolidation ?
|
|
#3
08-05-2008, 12:29 PM
|
||||
|
||||
|
If you are talking about debt management, I found the same thing. When I looked into debt management plans (consumer credit counseling), one of the places that I checked with, my payments would have stayed about the same, and another place, they would have gone up by about a third. They said, "yes, but you'll be out of debt sooner." Since I already couldn't handle the monthly payments, it wasn't a help to me either.
|
|
#5
08-05-2008, 12:33 PM
|
||||
|
||||
|
That is normal. Usually the payment are about the same or higher than what you were paying. If you are overextended and can`t afford a dmp than you may want to consider a debt settlement program.
|
|
#7
08-05-2008, 12:36 PM
|
||||
|
||||
|
I have never done either program. I work in the industry though. Neither program is better than the other. It really just depends on your budget and what you can afford to get out of debt.
|
|
#8
08-05-2008, 01:31 PM
|
||||
|
||||
|
As far as what we did, we ended up filing BK, unfortunately. :cry: We had hoped to save some money and do debt settlement on our own, but we were just too far in the hole and couldn't save enough money fast enough.
|
Linear Mode
