Can I pay the consolidation with a single payment

Hi

Welcome to the forums.

The consolidation companies offer monthly payment schemes to the consumers so that they don't have pressures in repaying the debt. Easy installments are offered so that they can pay the debt in a course of time.

If you are willing to pay the debt in one single payment, you have to inform the consultant about your move.

Regarding the other benefits, consolidation program is designed for improving your financial worthiness. Your total debt will be reduced that will eliminate the financial charges, late fees. Thus, you will be offered an amount that will be much easier to pay towards this account. The consultant will negotiate with your creditors to cut the rates of interest in this program.

Once your account is completely paid, the creditors will update your file with the bureaus. Your accounts will be shown as 'paid' or 'paid as agreed' giving a favorable view to your future lenders. Take a free counseling in this website and discuss your case with the consultant. He will offer you better options so that the debt gets repaid faster.

Regards
Roxette

will my credit be ruined after consolidateing if so what will my credit score be.?

No, your credit won't be ruined if you enroll in the consolidation program. These types of programs are designed to give your credit a good shape and help you in retaining your credit worthiness. Its main objective is to restore a good credit rating and entering into this program will make it happen faster and more securely.

Your credit report might be having some negative entries which need to be recuperated. debt consolidation program will cover all the unpaid accounts in the program, making regular payments to the creditors and as a result provide you a better financial rating.

Your credit scores are constantly revised through the payments that you make towards your debt accounts. If payments have not been regular or the accounts are charged off, credit scores are adversely lowered. But scores get enhanced with the timely payments and if the accounts remain current.

It is the responsibility of the debt consolidation company to make regular payments to your creditors. Do some researches before you choose the consolidation company as your accounts will be handled by them thereafter.

You can take a free counseling in this website to know about debt consolidation program and the consultant involved in it.

Regards
Roxette

I want to make a single payment to the debt mamagement agency. I believe this is possible if I make the full payment. How about that?

I would need the agency help me talk to the creditor/collection agency for a settlement. As at this time, it is in collections and my credit history is screwed, I cannot afford to have them on my record anymore. Are there companies that do this- Help me settle for 'Paid as agreed' for a fee, atleast.

Hi

Yes, there are consolidation companies that will help you in negotiating with your collection agencies and take care of your accounts.

Inform the consultant that you want to make a full payment instead of paying it in several months. All types of arrangements are possible, you just have to inform the consultant about your intentions.

After you register yourself in this site, you will be referred to the debt consolidation company operating in your area. The consultant will call you for a free discussion about your debt accounts and make the needful arrangements.

After you have paid the accounts, the collection agency will update your accounts with the bureaus and your accounts will be shown as 'Paid as agreed'. This will give your credit a favorable view to your future lenders.

Regards
Roxette