19 years old in need of advice

Hi misfitsguy44

Welcome to the forums. As I can understand that your busy schedule and not getting the bills on time is the main reason for your debts rising higher.

Consolidation program will not only make your repayment process easier but will combine all the bills into one loan amount. You will be offered this service at a lower rate of interest. This will be beneficial for you as you will only have to cut one check each month and that will be paid to your creditors through the consolidation company.

Consolidation program will remain in your credit report as long as you are in it. It will be removed once you have paid in full to your creditors.

Or, you can get a private secretary for this purpose. :D . I guess she will take care of your bills properly.

Regards
Roxette

thank you very much. appreciate the help. so once i pay off all my debt through consolidation will my credit be bad? because i am looking into buying a house within a year or two

As the consolidation program will be appearing in your credit report, the lenders will be able to view it. But it will disappear once you have completed the payments.

Having a consolidation program does not hurt your credit in anyway. It puts an impression that you are trying to improve your financial standing. The creditors will appreciate your enrollment in the program because they will understand that you have taken the responsibility of paying the debt.

Once you have completed payments with your creditors, they will update your file with the bureaus and you will be able to maintain your financial worthiness.

The ultimate goal of the debt consolidation program is to improve your financial and credit standing and as long as you are current in the debt consolidation payments, you will be viewed more favorably than before.

sounds good to me! thank you very much! the wife will be pleased

Also, while you have taken this program, you will be getting monthly statements from your creditors as well as the consolidation company.

The creditors will send you a written statement of how much money has been deposited to your debt account along with the balance remaining. Simultaneously, the consolidation company will be sending you a break down of how your money has been proportionately distributed among the various creditors. So, you will be able to keep a record of your payments made to your creditors each month and the status of the accounts.

Regards
Roxette

Also,if you are not having money problems right now,only forgeting to pay,you might want to try online banking.Most banks will let you schedule recurring auto payments.You put all your bills in once and what you want the payment to be and they pay your bills for you the same time each month.You just have to remember to deposit you paycheck.I do all my banking online,and I love it.I dont do auto pay,but it is avaible at my bank.If you dont want to do auto pay you can just go online,click on bill pay,type in the amounts you want to pay each person,it only takes about 5 minutes.Again,consolidation will be on your credit report,and if you are not having money problems,I would not go that route yet.

I agree twokidtwocat..I even had my check auto deposited and I had so many payments auto payment WAS the only way I could ensure they were made on time. And alls I had to do was review it monthly to see that everything was paid (and see the pitiful amount leftover)