Debt Consolidation
Date: Fri, 06/03/2005 - 08:02
Hi kimb515Welcome to the forums. Please do not worry as it i
Hi kimb515
Welcome to the forums. Please do not worry as it is the responsibility of your agency to negotiate with your creditors and reduce or eliminate the financial charges and make you debt free.
The debt consolidation companies have a very healthy relation with the creditors and will help in eliminating your debt within a fixed period of time.
Quote:
Also, will it hurt my credit more to enter into consolidation or to let the already past due payments go for another month or two before I can start catching up on my own. |
The debt consolidation program is designed to reduce the debt of the consumers over a certain period of time. It appears in your credit report and gives the impression that you have taken the responsibility to pay back your debt. All the multiple payments are consolidated into one easy monthly payment and hence there is no chance of missing any payment.
It is nice on your part that you have taken the positive step to reduce your debt and hence lead a debt free life.
Please keep posting your comments and suggestions in the forums for the benefit of the community members.
Regards
Roxette
Welcome to the community. You should sign up and become a member
Welcome to the community. You should sign up and become a member here. :D