logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

We are considering debt management

Date: Fri, 08/18/2006 - 21:55

Submitted by anonymous
on Fri, 08/18/2006 - 21:55

Posts: 202330 Credits: [Donate]

Total Replies: 2


We are considering debt management. We know that we would benefit from it. I guess we are worried about our credit and how it will be affected, we own our house now but would like to move at some point. Just now sure how that will be affected. We did contact one agency, and the man suggested to me to contact our credit card companies and try and lower our interest rates first, since we have never been late on a payment. He thought since my husband makes a good income that we shouldn't do a debt consolidaiton. So, I called the companies, some of them lowered and a few would not because of our high debt. Now I am feeling maybe we shouldn't, but know that it would help. Also don't know who to go to. Any suggestions would be greatly appreciated.


Welcome to the forums. :D debt consolidation is the best choice. There are many options to consolidation. You will have all cards combined into one monthly payment and many times the credit card companies will lower or even eliminate the interest. It will affect your credit score a little, but once you complete the program, your credit score will rebound.


lrhall41

Submitted by Not so Lucky on Sat, 08/19/2006 - 06:51

( Posts: 3041 | Credits: )


Hi osbahr

Don't include those accounts in the plan for which the creditor has already lowered the interest rates. Your husband has a good income, he will be able to meet the consolidation payments along with these ones.

Not all credit companies accept payment proposals from the customers at the first call. You will have to push them if there is any possibility working with you. If they remain unshaken of their words, include those accounts in the plan.

Consolidation program doesn't hurt. The good thing in your credit report to happen is to show the accounts as paid off. If you can do that with some professional help, sounds good. It's better than leaving the accounts delinquent.


lrhall41

Submitted by keystrokes on Sat, 08/19/2006 - 12:21

( Posts: 495 | Credits: )