Should I do debt Consolidation?
Date: Thu, 05/28/2009 - 09:23
Hello, I'm a 21 year old single parent. During my pregnancy I was high risk so I was not able to work. The only support I had was from my parents so for one reason or another I just got alot of credit cards to make ends meet. Before my pregnancy my score was 621 I only had 3 cards. By the end I had 10. My total debt now is $5900. My monthly income is 1600.00 my rent is $650 Phone $124 Utilities and a student loan payment equal about $160 at the most give or take. At this point I want to be done with credit cards atleast all the ones that I have and get back to the point where I was pre pregnancy. I'd just like to be able to make one payment per month would take so much off my shoulders. At this point I have 10 credit cards. Out of 10, 2 are over the limit but I continously make payments on all of them. None are in collections or past due. I'm only 21 so I don't plan on buying a house or needing excellent credit for atleast another 4-5 years. Would debt consolidation completly ruin my credit? My credit score now is a horrible 520 so its not like it'd take a deep plunge I really need advice. Thanks!
I would get in contact with Superior or Ram Financial Services.
I would get in contact with Superior or Ram Financial Services. These are not consoldation companies but settlement companies. Settlement helps you to rid of your debt without having to get a loan to pay them off. This allows you to qualify for the program without a good credit score. Settlement does mess up your credit but if you are at a 520 it should do much more damage then what has already been done. I wish you the best in finding a solution that works for you.
