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Looking for Debt Consildation Company

Date: Mon, 08/06/2007 - 10:12

Submitted by anonymous
on Mon, 08/06/2007 - 10:12

Posts: 202330 Credits: [Donate]

Total Replies: 3


I'm looking for a debt consolidation company to help me out with some troubles.

I currently have around $15,000 in debt to American Express, which has been sent to a debt collection agency, allied interstate.

I have ran excel models, and at the apr % that they jumped me up to, it's 32% a month. After running an Excel model, that's a huge amount of interest adding to the principal each month exponentially. It's too much and I can't afford it.

I have paid Allied Interstate a total of $3,000 over the phone when I finally talked to them a few times. Basically their employees use scare tactics and were very rude about the situation. I asked them for advice as what other alternatives I have, and basically they are telling me the only thing I can do is get a new loan.

I also have around $3,000 in debt on two other credit cards, but when I have a job shortly, I can pay those off in full in about 4 months or less time.

I am currently 22 and living at home, and I would like to clean up this debt before it spirals out of control.

Thanks in advance for any help,
Nick


You are right about being careful about Allied, they do use scare tactics and other means to get you to pay. Have you looked at the Ranking Chart on this site? It lists companies in the different states. Whoever you decide to use, please check them out with the BBB, and others who have used them. If you didn't sign up for the free credit counseling, you may want to do so, and at least see what they have to offer. Feel free to ask questions, and you can also search on this site for Allied, and see what others have done concerning them..Good Luck..Karen :D


lrhall41

Submitted by Bossy4455 on Mon, 08/06/2007 - 10:27

( Posts: 5854 | Credits: )


I just checked the Ranking Chart bossy, and I will be calling three of them tommorow.

I know that when the debt is consolidated, to small payments and lesser interest, which is what I am desperately needing.

However, once they come up with a payment plan, if I pay more than the limited amount (I currently work in Food & Beverage, so we make alot of money in 'season' where I live), will that be applied to the principal and allow me to get out of debt faster?

Thanks again,
Nick


lrhall41

Submitted by on Mon, 08/06/2007 - 14:30

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