Need to pay off debt fast
Date: Fri, 05/30/2008 - 13:34
It would be nice to consolidate the debt into one payment with less then 66% going to the charges, I have talked to them, all they say is "this is the lowest we can do" well, 28% is NOT low. So they are not helpful, then there are the yearly fees which hurt any progress I have made paying them off.
I have worried about it hurting my credit, which is worse, a little hit to get these things paid off, not looking for a hand out, free money, all I want to do is pay off my debt and they are not helpful at all, they do not even try to make it easier.
For awhile I was not sure I could do anything about this because
For awhile I was not sure I could do anything about this because of my lack of income.
It sounds like you would likely benefit from Consumer credit cou
It sounds like you would likely benefit from Consumer credit counseling .They would be able to get you set up with what is called a debt management Plan or a dmp.
With a debt management plan you will repay all of your accepted creditors over a newly negotiated contract and terms. The Credit Counseling agency will negotiate with all creditors to accept a lower interest rate " usually around 6-10 % ", waive late fees and over limit fees and spread your payments out over 4 to 7 years. You will repay 100% of your current balance with a payment that typically runs about 3% to 4% of your total debt. I hope this helps. Have a great day.
PS...Be sure to look any company up you are considering doing business with on the BBB to make sure they have a good track record :D
Wanted to note, I did read a few past topics, just wanted to add
Wanted to note, I did read a few past topics, just wanted to add what is going on personally if that changes anything, if I'm able to, I am seriously thinking about a program to pay these off quicker, at the current rate I pay just $50 more each month would reduce the time to pay off my debt by 25 months.
Those are some high interest rates. Can you ask them to reduce
Those are some high interest rates. Can you ask them to reduce the rates?
Best of luck.
I have, they are not very helpful, they act like that is the bes
I have, they are not very helpful, they act like that is the best they can do, 28% is not the best of anything.
My credit to debt ratio is too high, I'm at about 92%, slow going getting it down with 66% being wasted on charges each month.