should i consolidate?
Date: Thu, 11/20/2008 - 10:32
I have a few things on my credit like an old phone bill and payday loans. then there are things pending like a bank and a car that i can just not afford to pay. i just moved to az from co and just found a job. it dose not pay much but i want to take care of this stress and start over.
Consolidation will only be able to take care of unsecured debt l
Consolidation will only be able to take care of unsecured debt like credit cards. Anything like a car (which is considered secured), will not be covered. I'm assuming that these are all in collections at this point. I would start by pulling all three credit reports and see where you truly stand with all of your debts. Check to make sure there aren't any errors. Also, check to see what the dates are for 1st delinquency and also the first major deliquency. If these are old, they may be passed SOL and they should be disputed with the bureaus to be removed...this will mean they can no longer collect this debt. I hope this helps in figuring out a starting point for you :)
