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 Posted: Wed May 23, 2007 7:03 pm Subject: New to this Forum and looking for help!!!!! |
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Today I finally acknowledged that I am in over my head with this debt, and I need help:( I searched for a debt consolidation forum and I found you all! I'm a little confused about the whole sign-up process..so an agency will call me in the morning?
Ok, moving on to my situation. I'm a college student graduating in august(with student loans to pay back 6 mos. after graduation--you guys know the deal) Anyway,I charged a business venture on my credit card ($2,500 something like that), and things didnt going as planned. I got behind on my payments, then it got turned over to the collection folk who now call me everyday like 7-8 times a day. I got the guts to call them back yesterday pretending to be a relative on my behalf( I'm that desperate!) and they wanted me to give them a settlement amount which i dont have. The bill is up to $4,170 b/c of interest. I also have a $635 phone bill that is in collection. I want to be debt free and I am willing to do what it takes. I have no idea where to begin. What's the deal with this debt consolidation? I'm a working college student, and I can afford to pay a monthly fee to get the bills down. Is consolidation the way to? Does joining a debt management Program negatively one's credit report? Someone please help me!!!!!! I dont even know where to begin with this!
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mustgetfree
Joined: 23 May 2007
Posts: 5
Debtcc Points: 150
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| Posted: Wed May 23, 2007 7:06 pm Subject: |
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debt consolidation may have a negative impact on your credit report but to be honest if you are already that far behind, your credit isn't all that great at this point and the best thing to do is to get back on track and this may be your best option.
_________________
Passion...it is born...and though uninvited, unwelcome, unwwanted...like a cancer, it takes root. It festers. It bleeds. It scabs...Only to rupture and bleed anew. It grows...it thrives...until it consumes. It lives...and so it must die....in time.
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Leah
Debt Samaritan
Joined: 04 Mar 2007
Posts: 2333
Debtcc Points: 50556
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| Posted: Wed May 23, 2007 7:08 pm Subject: |
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First off welcome, and I think someone will be contacting you about your options in debt consolidation. If they're calling a lot and it's getting annoying you can request they only contact you through mail, that way you don't have to "be a relative on your behalf". I know the longer the debt goes the more it will cost, and eventually the more they will want to settle, however thats not always a good idea. If you could try and make a payment plan with them maybe they would go for that?
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d2dtk
Joined: 17 May 2007
Posts: 154
Debtcc Points: 2005
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| Posted: Wed May 23, 2007 7:08 pm Subject: |
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leah you beat me to it ...
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d2dtk
Joined: 17 May 2007
Posts: 154
Debtcc Points: 2005
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| Posted: Wed May 23, 2007 7:18 pm Subject: |
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where do I begin with debt consolidation? I'm pretty green behind the ears on this subject. Are there any "newbie" threads on this forum with FAQ's or something?
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mustgetfree
Joined: 23 May 2007
Posts: 5
Debtcc Points: 150
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| Posted: Wed May 23, 2007 7:20 pm Subject: |
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do collection agencies do payment plans? When I mentioned it to them, they were like no, they need settlement amounts
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mustgetfree
Joined: 23 May 2007
Posts: 5
Debtcc Points: 150
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| Posted: Wed May 23, 2007 7:21 pm Subject: |
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some are open to payments others arnt.
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d2dtk
Joined: 17 May 2007
Posts: 154
Debtcc Points: 2005
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| Posted: Wed May 23, 2007 7:22 pm Subject: |
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Also, can I give the debt consolidation people more than the required amount as far as re-payment? Why do some of them say you have to commit 3-5 years? What if it doesnt take that long to pay it off?
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mustgetfree
Joined: 23 May 2007
Posts: 5
Debtcc Points: 150
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| Posted: Wed May 23, 2007 7:23 pm Subject: |
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Faster you pay it off the better, but if you could pay more then what you say, why not pay it off entirely, or offer a good settlement.
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d2dtk
Joined: 17 May 2007
Posts: 154
Debtcc Points: 2005
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| Posted: Thu May 24, 2007 9:41 am Subject: |
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I want to work with Consumer credit counseling Services? Where do i go to find information about them?
_________________
Register today to cash in debtcc points.
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Guest
Debtcc Points: 100
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| Posted: Thu May 24, 2007 9:50 am Subject: |
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Surely somebody knows something about this. Is CCCS a national company or what? I'm lost. 
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mustgetfree
Joined: 23 May 2007
Posts: 5
Debtcc Points: 150
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| Posted: Wed Sep 05, 2007 10:59 am Subject: |
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I'm not sure if I would go with cccs. I checked into them and they were very costly at the time. I think you can do better. Have you thought about getting a free consultation here?
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eleroo
Joined: 06 Jun 2007
Posts: 1227
Debtcc Points: 14309
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| Posted: Sat Sep 22, 2007 4:16 am Subject: |
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Hello mustgetfree,
Congrats on taking the first steps! Have you registered for a free consultation here, on this website? I got a call two days after I registered, and we got my consolidation plan going right away... 
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stefan
Joined: 16 Sep 2007
Posts: 201
Debtcc Points: 2569
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