PostHeaderIcon Debt Consolidation Companies. How do they work? If I consolidate my debt ($4500), they told me my payment?

will be 172 a month +25/fee. Will I still be able to use my credit cards…I’m confused.
i MEAN…can I still have access to them or will they close out..

4 Responses to “Debt Consolidation Companies. How do they work? If I consolidate my debt ($4500), they told me my payment?”

  • PanamaJack says:

    If you’re trying to get rid of your debts, why would you want to continue to use your credit cards?
    Go to and HEED THE ADVICE. It works!!

  • masterhersh says:

    These companies are ripoffs. You can get the same deals by calling the companies yourself. Even if they are a non-profit they still charge you. I used to work in collections and can tell you hundreds of horror stories. Call your accounts that you owe and negogiate a lower rate an payments and they will work with you. Then do auto pay on one card on one date for all the companies. This is waht these companies do, except they are often late makeing your payments and often end up messing up your credit even more!! Check out the

  • mariane says:

    You can negotiate with the company whom you owe money for a lower payment. Why do you want to start paying the consolidation company extra money.

    Secondly if it is the usage of the cards that put you in debt then what you should do is cut those cards and go through a course of money management.

  • coleblondehead says:

    Once you start settling with one of these
    companies, they will ask for all your
    credit card accounts and they will tell you
    upront you cannot use these cards for any
    reason, you can leave 1 out for emergen-
    cies but the rest have to be shredded and
    out of the question do not ever use them
    youre trying to get out of debt, you wont
    if you keep using them.

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