DMP IN NC??

I was looking at the ranking chart here for the consolidation companies in NC. Found some tips that might be worth sharing.

http://www.debtconsolidationcare.com/northcarolina/

So does anyone know who the best and worst are to go to for a consolidation loan, even with bad credit?

I am trying to find that out myself..

Why people with bad credit should not take a new loan, especially for paying the current debts?

A good loan company looks at your credit scores before extending credit. The interest rates are fixed according to that. If you have high scores, you get the competitive interest rates from the lenders. If your scores aren't good, the lenders will press their rates on you because they know your weak point.

Some banks will ask your property to be pledged against the loan. In case, you miss one payment, their is every chance that the lender will possess your property for recovering the loan. In that case, you end up losing your asset.

There are many flyers advertising loans with bad credit. Research on the company properly because most happen to be a scam. They ask for upfront money before depositing the principal. Once you send the money, they will ask for more and you'll never see the loan. Needless to say, your checking account is already exposed to the scam company.

The crux of the matter is to have good credit scores. Pay off your existing debts through other means like you can do it on your own by preparing some arrangements with the lenders. Or use some professional debt management program. Start paying the small accounts, they will be updated in your credit file and this improves the credit worthiness. Once you have good scores, you hold a better financial identity. Look for possible errors in the credit report. They also hurt the credit ratings. Dispute the incorrect entries with the credit bureau and get it updated. This also increases the scores.

Do you have any idea of a good credit counseling company in NC??

So the best that I can do is to write/email them and let them know that I am back on my feet again and will start making regular bi-monthly payments to them, since I get paid twice a month. And like you said... start with the smaller ones. The smaller ones will actually make feel like I am making progress when the last payment is made.

Yea, that's what I would suggest. Like I said, one of my payments is only $15 mth.