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Bills are out of hand!!!

Date: Tue, 09/05/2006 - 09:14

Submitted by anonymous
on Tue, 09/05/2006 - 09:14

Posts: 202330 Credits: [Donate]

Total Replies: 12


Need Major help with my Credit Card Bills. I am looking into consolidating, others are telling me to go to a debt settlement speciallist. Dont know what to do. all i know is that My bills are piling up.


Welcome! :D There is a simple and easy to understand answer to your question at http://www.debtconsolidationcare.com/forums/comparison.html If you signed up for the free credit counseling,talk to your counselor about each option,then see what best suits you-Good luck.Also read in other posts and threds about others who have gone through what you are going through and see what they are doing to become debt free :D ...Karen


lrhall41

Submitted by Bossy4455 on Tue, 09/05/2006 - 10:02

( Posts: 5854 | Credits: )


Jm, how much is the total amount of your debt? Calculate your monthly income and expenses and analyze your financial status. If you can manage with the consolidation payments, this program will be a good choice. Settlement program is helpful for those who have huge amount of debts and are unable to make the monthly payments. This plan reduces the total debt by 40% to 60%

Find more information about this program in the debt settlement article. You will get a broad overview while comparing with the consolidation plan.


lrhall41

Submitted by anthony on Tue, 09/05/2006 - 10:18

( Posts: 456 | Credits: )


My bills are so out of hand but it is not credit card bills and all because we got these little small loans to help pay the monthly bills, then getting a little more out of hand trying to pay the small loans with the regular monthly bills having to renew and up the small loans we are getting no where trying to pay these things off. I can gaurantee we have payed more on these small loans than what our house itself is worth, and a lot more than what we payed for my used '95 vehicle. Quite sad when all seems to be piling up once again and unable to renew anymore of the loans cause we've already taken care of that just a few months ago. So I very much know what your going through jm.


lrhall41

Submitted by billyandstarlasmom on Tue, 09/05/2006 - 10:23

( Posts: 20 | Credits: )


Ari, I differ from your point. Settlement can be an option for those who are unable to make the monthly payments in the consolidation. The payment plans in settlement are quite affordable and the ultimate objective is to erase the debt. I agree this will stay in the file negatively, but at the same time, it is important to pay off the debt also for improving the credit slightly after the account is paid off.


lrhall41

Submitted by anthony on Tue, 09/05/2006 - 10:47

( Posts: 456 | Credits: )


I like to give people the info on both,but I have tried both and consolidation worked better for me.It just seemed that settlement wasn't going to help me a whole lot,maybe at the time,but it bit me in the butt later on my scores!Of course my debt wasn't tremendous like some I see here,so they may benefit more the other way for huge debts... :D Karen


lrhall41

Submitted by Bossy4455 on Tue, 09/05/2006 - 10:52

( Posts: 5854 | Credits: )


You're quite welcome anthony! Your good experiences with settlement programs are important to this forum. I admit that while I have experiences from within, doesn't mean I know everything, and that my word is gospel.

Guest, you're also welcome. Don't let your search end there though! Keep your mind open to other consolidation companies. Read some of the forum topics about consolidation companies and get a better idea of which ones are good and which ones are bad.


lrhall41

Submitted by Jedi Mistress Ari on Tue, 09/05/2006 - 15:06

( Posts: 2192 | Credits: )


Basically Ari, I stress on any debt management program that sounds helpful to the person in need. Realistically speaking, someone not making any payments and not having enough source of income can look towards filing bankruptcy. That may be the best cut according to his individual situation. Those who can roll with good income in the future can look towards consolidation or settlement. Anything that sounds helpful at that point to the person is the right move. Thinking in long terms is equally important, but being stress free.


lrhall41

Submitted by anthony on Tue, 09/05/2006 - 15:44

( Posts: 456 | Credits: )


That's a good point of view to share. I share a similar philosophy that there is a different program that is right for everyone. When I collected student loans, I picked up on a pattern. People who were still renting and had small children were perfect candidates for rehabilitation. People who owned their homes and didn't have children were best suited for settlement. It all depends on what your goals are, where you stand right now, and what you have for resources.


lrhall41

Submitted by Jedi Mistress Ari on Tue, 09/05/2006 - 17:01

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