Counseling
Date: Fri, 08/07/2009 - 07:20
The service you are looking for is known as a Debt Management Pl
The service you are looking for is known as a Debt Management Plan with a non-profit consumer credit counseling company. Your accounts will all stay current . Plus they will be able to get you one payment but at much lower interest rates ( usually around 6%-10% ). When shopping around for a good credit counseling company make sure they have their 501(c) 3 Non profit business license. Typically if a company does not have this license, they are unable to receive the benefits of lower interest rates for their clients.
You also want to be very careful about the company if you choose
You also want to be very careful about the company if you choose one. I checked with one about a year ago, and the proposal they sent me was for a payment that was $18 a month less than I was already paying, and some of the interest rates andpayments were higher than I started with.
They also had a clause in the agreement that I could not drop out of the program early, or pay off the balances early.
There are a lot of them that seem to only care about getting you to hire them and collecting their monthly fee.
