Advice on consolidating Debts.
Date: Thu, 08/31/2006 - 04:03
I am loraine. I am new to this forum. I work in a Pharmacy store. I have credit card debts & student loan debt. I am suffering from these loans. I heard people saying whenever u get into debts consolidate them and get rid of them. I know it decreases your interest rate and no need to deal with lot of companies. But how far it is suggestible to consolidate all the debts into a single one. Because consolidating your debts may affect your credit ratings.
I surfed online through a no .of sites which are offering loans to consolidate all the debts into a single one with a possible low interest rate. Some of them are Links deleted as per forum rules - Mike and lots. Still i am not convinced by these people. If anyone can advice me on this, please.
Thanks
Loraine
Loraine Hi, welcome to the forums! By signing up on this s
Loraine
Hi, welcome to the forums!
By signing up on this site you registered yourself for a free consultation. Has the debt counselor called you yet? Consolidating debt is a lot better than just letting it sit there. If it becomes overwhelming sometimes that's the only option. By consolidating your debt, you combine all the debt into one montly payment.
Your conselor will work with your creditors to eliminate high interest rates, and some late fees, to bring your balance down. You will then make monthly payments to the counseling program, and once enough is saved up in your account, the counselor will dispense money to each creditor.
What is making you leary about entering such a program? Stick around in the forums if you have more questions. We're all here to help!
Regards
Mike
I think I'm confused right now. I signed up to receive a free cr
I think I'm confused right now. I signed up to receive a free credit counseling, but the only one who called is from Superior Debt which is a debt settlement company. I assummed I would be getting an independent counselor that would determine if I should do a debt consolidation or settlement. I'm not sure what to do now.
alicia
Perhaps, Superior debt relief was the best pick for you by the s
Perhaps, Superior debt relief was the best pick for you by the system. Anyways, you can find some more consolidation and settlement companies in the ranking chart. See if you are willing to work with any after checking for their feedbacks.
