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Debtconsolidationcare.com - the USA consumer forum

Young And In Debt

Date: Wed, 01/11/2006 - 18:52

Submitted by etyler19
on Wed, 01/11/2006 - 18:52

Posts: 11 Credits: [Donate]

Total Replies: 16


I am in debt and I need to know what would be the best way to go.. I am in debt total about 15,000$.. I currently lost my job and was unemployed for about a month.. now bill time is rolling around and im out of money. Would i be able to get a consolidation loan with not owning a home? I am going to start putting all my extra money to paying off my debt. HELP !! :(


You should talk to the counselers on this site,the consultation is free.Debt consolidation sounds like your best bet,that way each of your creditors will receive something each month,you will save on late fees and interest will be reduced.The best thing is you only have to make one payment to the consolidation company each month and they take care of making your payments.You will see your debt going away alot faster,than if you tried to do it on your own.They will have a consolidation firm get in touch with you after you finish your free consultation.
Make the call,its free. 800-601-1579
Good Luck


lrhall41

Submitted by twokidtwocat on Wed, 01/11/2006 - 22:08

( Posts: 602 | Credits: )


Until the recent bankruptcy laws, bankruptsy was my #1 business. Now ,I still have people that come to me on a daily bases. I would like to be able to send them to a debt relief or consolidation company that will not take advantage of them & won't mind paying a finders fee or % to our company.


lrhall41

Submitted by on Thu, 01/12/2006 - 05:42

( Posts: | Credits: )


etyler19

Hi, welcome to the forums! One thing I do want to mention is that getting a loan to pay off your debt is a bad idea; because you'll still be in the hole whatever you took out. consolidating your debt is basically just combining your total debt, and making it one affordable payment for you to make each month. But the only way it'll work is if you put your best efforts towards it. Having no job, will possibly hurt the program when you are unable to make a payment for 3 months. Creditors will begin to assume you aren't being serious, and pull from the program and reapply whatever interest fees they took off.

A representative should be calling you about the program if you have already signed up on this site. They'll go over the details and answer all questions you may have. You've already taken the first step by asking help.

Good luck on your job hunt.

Regards-
Mike


lrhall41

Submitted by Teleport on Thu, 01/12/2006 - 05:42

( Posts: 1388 | Credits: )


Jdeofy

Welcome to the forums.

You can join the affiliates program offered by us and start earning money for each referral sent by you.

Please view the affiliates section in our website and know the procedure of joining the program. Details are given at:

http://www.debtconsolidationcare.com/affiliate/

Please forward your further requests to me at [email]mike@debtconsolidationcare.com[/email]

Regards
Mike


lrhall41

Submitted by Mike on Thu, 01/12/2006 - 08:41

( Posts: 1317 | Credits: )


Yes etyler19, the term 'loan' represents the amount borrowed as credit from the lending company. Since the company is advancing you money, they will ensure that you don't impose any threat to them. So, they will keep your property equivalent to the loan amount as security. This collateral can be used if you are unable to pay them back.

Whereas, in the consolidation program, you are not keeping your property as collateral. You will be paying towards your debt accounts by using money from your monthly income.

The consolidation program has many benefits attached with it. You will get a reduced amount from your lenders because the late fees, financial charges and other related charges are completely wiped off. The consultant negotiates tactfully with your lenders to reduce the total amount.

If you have multiple debts, all your bills will combine into one amount and you will draw only one check to all your creditors. You will pay the money to the consolidation company who in turn pays to your multiple creditors.

A person uses such program so that the interest rates with the lenders can be reduced largely. Most of the creditors charge between 15% - 28% for revolving the credit. But, after taking this program, the rates of interest will slash down and range between 5% to 15% depending upon each case.

If you miss your payments in this program, all the benefits extended to you by your lenders will be permanently withdrawn and you might have severe problems in repaying the account. It is better to be dedicated towards the program so that the accounts are paid in full and ultimately your credit file improves.

There are some other benefits of using a consolidation program. I was reading the page given below. I thought of bringing it to your attention as well:

http://www.debtconsolidationcare.com/benefits.html


lrhall41

Submitted by david on Thu, 01/12/2006 - 12:43

( Posts: 1229 | Credits: )


Lack of proper research on a particular company results such horror stories. Be aware about the company by checking them in the BBB and the FTC. You can also get some important information in the local AG's office. Since the consumers file all their complaints about a particular company in these places, it will be better to go through their websites and have a detailed study about a particular company.

If you have signed up in this website after entering your contact information, you will get a call from the consultant in your area. You can have a better understanding about this program and know the procedures on how to get started. Remember, the company will put the contract in writing and everything will be duly signed after you have given the consent to it. This way, there won't be chances of any complaints against the company.


lrhall41

Submitted by david on Thu, 01/12/2006 - 14:23

( Posts: 1229 | Credits: )


Every type of industry has some good companies as well as bad companies. Because of the bad ones that are existing, you won't stop using the good ones with whom you are in a contract.

It's just like you have to be cautious before giving your money to an agency. I also have taken the help of a consolidation company referred by this website. I have inquired about them from all sources and have everything in writing from them. Maybe, I have strengthened my grip on the company for sure.


lrhall41

Submitted by david on Thu, 01/12/2006 - 16:15

( Posts: 1229 | Credits: )


Some lenders will appreciate you calling them and making payment arrangements. You can expect some of the lenders to be harsh if they place the call first. So, it will be better to contact them first and place the request.

Professional help can be an option when you fail to get the desirable results of your negotiation. The consultants are specifically trained for these negotiations and offer you fair deals.


lrhall41

Submitted by david on Sat, 01/14/2006 - 13:11

( Posts: 1229 | Credits: )