I wanted to know that if I enroll in the debt consolidation program, can my creditors take legal action against me? Thanks joness

If I enroll in the debt consolidation program, how will I know how much my creditors are paid. Will I be able to track my payments made in the program

What is the statue of limitations on all debts?

I have a somewhat decent credit rating (around 650)BUT major debt. :( As a single mom I struggle every month to make sure all of my creditors are paid ON TIME every month and I also make sure I pay a little more than the minimum requested. However, I can't seem to get the balances down b/c the interest rates are so darn high and anytime I make a little headway, I end up having to use the card again for some emergency or work/child related expense. I am under the impression that debt consolidation would have a negative effect on my credit rating. Is that correct?

My husband consolidated his student loans about 2yrs ago but missed one, or could not consolidate it or something. Basically, he got a couple of quite nasty letters about a debt he owed for an out of state school he attended. At that time, we wrote a letter stating that we could not manage to pay off debt in full but wanted to make monthly payments. We also asked for the debt to be reduced to the original amount (my husband is not sure what this amout was). We got a letter back saying they would not accept anything but the full amount of the debt, so at that point, we ignored it.

I heard from many that your website gives the complete information about debt consolidation and an unbaised opinion about all related matter. Thats nice to hear but my question is : is debt consolidation good at all? Few people still feel that it is not good, is it true? I want to take debt consolidation as an option, how should I proceed? With a lots of Luv Marc

i am looking for one company that i can consolidate all that i have in to one low payment. school laons, CC ,and settalments?

How does debt consolidation affect an excellent credit rating . Thanks

Will this have a bad reflection on my credit report?

Hi - I have another question about the actions of a CA. I have a revolving balance Amex card that was turned over to collections(not sold to), but I have since paid down the balance. I have also made large monthly payment directly to the Amex because of the unprofessional actions of the collection agent.