 Posted: Mon Jul 02, 2007 4:20 pm Subject: |
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If you enroll in a consolidation plan, all the debts will be combined under one payment plan at reduced interest rates. A debt counselor will call your creditors and fix a plan suitable for you. I have heard that most of the late fees are also waived off reducing the total pay off.
You will be benefited by the consolidation plan especially if you are unable to make payments on your own. When all the accounts are paid off, the creditors will update your accounts with the bureaus and your scores will go up.
A counselor from your area will be calling soon and discuss about your debts. Then, he will be able to guide on your next moves.
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Johnson4485
Joined: 22 May 2006
Posts: 399
Debtcc Points: 3960
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