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Help for an On-Time-Payer

Date: Wed, 12/21/2005 - 08:08

Submitted by anonymous
on Wed, 12/21/2005 - 08:08

Posts: 202330 Credits: [Donate]

Total Replies: 3


How do you get help with consolidating unsecured debt for payoff when you are not behind on anything? I can't fathom that there is not a company that will take payments at a lower interest rate than 22-29% when I have a solid income and a good credit rating. My banks and credit unions will not touch my unsecured debt which was by the way accumulated for educaton expenses that they would not loan me money to cover. Is there any method that anyone knows of to get out of this situation? I can pay but I never get ahead because of the increasing interest. I have closed the accounts in question and I am paying regularly. Thanks in advance for any advice.


jsmith2037,

Welcome to forums. It's not necessary to have delinquent accounts to enter into consolidation program. There are some warning signs that alert you earlier enough. Once you get the indication that you might fall behind with your payments in a near future, you should think some ways to stay current.

Always protect negative entries to enter your credit report, because if you have an off-putting mark in your record, it will be there for next seven years.

You can undergo the free counseling session offered by this site. It will help you to decide how you should proceed.

You have mentioned in your post that you have some unsecured loans accumulated for educational expenses. Do you have any student loan? Student loans are completely separate issue and the consolidation process is also different from conventional ways. Please go through the link below to have a better insight-

http://forums.debtcc.com/forums/debt-tocollection.html


lrhall41

Submitted by 4u.bryan on Wed, 12/21/2005 - 09:09

( Posts: 819 | Credits: )


Thank you for your quick response. No--there is no student loan involvement here--just trying to get a handle on the consolidation and how to get it accomplished.


lrhall41

Submitted by on Wed, 12/21/2005 - 12:46

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Hi,

After you enroll in the debt consolidation program, the consultant makes prearranged debt repayment plans with most credit card and collection companies. You will be offered lower monthly payments at lower rate of interest that has been arranged with your creditor.

A considerable portion of your money is saved each month through this program because this monthly payment is lower than what the credit card companies' offer to you.

One of the benefits in this program is that all the harassing calls of the creditors and the collection agents are stopped. They will not call you anymore until and unless you miss the new monthly payment in this program.

All the credit card accounts that are included in this program will be frozen or closed with the intention that you don't build up new debt.

This program will be beneficial to you as you have high interest rates or have high credit card debts which are becoming very difficult to be managed. Depending upon individual case, the rates of interests offered will range between 5% - 15%. This program serves to make only one payment to all the debts that are included in the program.

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

Please let us know if you have any queries on this program.

Regards
Roxette


lrhall41

Submitted by roxette on Wed, 12/21/2005 - 13:13

( Posts: 4009 | Credits: )