Debt consolidation for 8 different credit accounts
Date: Fri, 09/22/2006 - 11:20
I have about 8 different creditors, mostly credit cards, also a Dell account and a loan. Most of these are either in collection or several months past due. I have received offers from some of the creditors/collectors to settle the debt at well below the amount due. I am not as worried about my current credit (it is already very bad) as much as just getting these debts paid off... my question is would it be better to settle individually with some of these creditors who are offering me significant discounts on the debt, or to consolidate everything into one payment via a debt consolidator? My feeling is I wouldn't get some of the deep discounts on the debt if I consolidate, but not sure if that is the case.
I will first propose a plan to the creditors and know how much t
I will first propose a plan to the creditors and know how much they are willing to arrange on my payments. If it sounds good to my situation and can't get a lower pay off than the amount set by the creditors, I don't need a consolidation plan. But you should take a free quote from the consultant also so that you are able to compare your options. Have you talked with a counselor yet?
