I would like to consolidate 3 credits into one loan in order to better manage the debt. AMEX Card, Visa Card and CU Line of Credit all 3 totaling $53,000. Is this possible? I have talked to a few of companies so far since April and they all tell me it will mess up my credit for a short period. I don't mind it if it's not like a bankruptcy. Please let me know if this is possible. Thanks a lot, Russ
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.