credit card debt appox. 20,000
Date: Tue, 08/15/2006 - 10:38
My net income took a $700 monthly decrease in 2002. I found myself relying on credit cards. I am now sitting on appox. 20,000 worth of debt. Don't own a home so can't use home equity. Still paying off a car (13 mos to go) and child support for 5 more years. HELP!!!!
Hi fjl3112 Do you now have a steady income to make the payme
Hi fjl3112
Do you now have a steady income to make the payments in the consolidation plan? The program will be fixed as per your financial situation but make sure that you don't hurt the plan. The counselor will inform your credit company that you will be making the payments under the program. They will propose them to offer some repayment benefits by lowering down the interest rates. If you default in your payments in the plan, the facilities might be withdrawn from you and you will be squared back to zero with high interest rates and late payment fees. Talk to a consultant for a detailed explanation before getting started with the plan.
