What should I do about being overextended
Date: Tue, 12/20/2005 - 11:25
Hi kobarnes Based upon your payment pattern in the past, it i
Hi kobarnes
Based upon your payment pattern in the past, it is entirely upon the lender's interest on how they want to treat their borrowers. $60,000 debt is also not a small amount and a thought will be given on it before they extend any benefit to you.
If you use a consolidation program at this point, you will get a reduction in the rates of interests in comparison to what you will pay on your own. Besides, this program will combine all your debts into one amount and you will be drawing only one check to your multiple creditors.
Late fees and other financial charges are waived off in this program. So, you can see a reduction in the total amount of your debt and a reduced amount will be put in front of you.
http://www.debtconsolidationcare.com/benefits.html
Not only you will get the above mentioned benefits, the consultant will analyze your financial situation and then lay the best payment plan that you can afford. Thus, you will always be regular in your payments and there won't be any calls from your creditors. In my view, since the total amount of debt is quite high, you might consider yourself for professional help. It will be more helpful to you in the long run.