PostHeaderIcon any suggestions on a debt consolidation company?


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I am looking for a debt consolidation company that isn’t out for money like the credit companies. I have paid off over half of my cards and lack another four, one of which has doubled my interest due to a “long term balance” When I explained I needed the inerest lowered again, since I have been trying my best to pay it off, and now they raise the interest, it will take me twice as long to pay off! I need help! I want to pay off my debt, but the 26% interest is what is killing me. They said they won’t lower the interest, until I pay half of it off. But how can I do that with the interest the way it is!

Any one who may have had some good experience with a debt consolidation company, could you please refer me??
Thank you.

4 Responses to “any suggestions on a debt consolidation company?”

  • RAY says:

    You have a couple of options. First of all, I am not sure what you mean by debt consolidation because a true consolidation means you are taking the total amount of money that you owe your creditors and getting one loan to pay them off and only having one payment. If your credit rating allows you to get such a loan (secured or non secured) it should lower your interest rate and allow you to get out of debt slowly but surely. If you have a 26% interest rate that they won’t lower, the odds are you have a bad credit score and the odds are slim you’ll get a debt consolidation loan without a co-signer or some kind of collateral. It won’t hurt to apply. What you might consider if a consolidation loan isn’t possible is a debt management program through a legitimate credit counseling agency like Consumer Credit Counseling. You will not be allowed to use credit at all until you are out of debt. It doesn’t help your credit but it doesn’t really hurt it either. Check out the website link below for a credit counseling agency if you want to go that route. Whatever route you take, get a plan to get out of debt as quickly as possible and immediately stop burying yourself further with thoughts of loans. Reduce your expenses and/or increase your income. You didn’t get in debt overnight so you won’t get out overnight either. Have a plan, stick to it, and live within your means.

  • brady ewart says:

    Credit card agencies when find excessive default in repayments and debt burden increasing with their client, refer the matter to a credit collection agency. This agency specializes in recovering debts. The usual process is that the credit collection agency starts calling you about the debt and its recovery. Many people simply run away from such calls. But, this is certainly not the right way to tackle the situation. At: http://www.credit-card-gallery.com/article/253,Stressed_with_credit_card_collection_agency's_calls_Stop_things_from_getting_worse_with_these_5_surefire_tips takes a look at simple steps that can save things from getting worse.

  • Ads says:

    I have good experience with a debt consolidation company. It is the best ever. You want to know who it is. Its me. I learnt everything I could about debt management and then I put it all into practice. I spoke with my creditors, stopped interest and came up with a repayment plan. Those very same creditors now have me at AAA rating and lend whenever I need it. This is how you and everyone else goes about debt management. It really is quite easy to do. My profile has more becuase I put my experience onto a site for others, and yes, its free.

  • june e says:

    Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.

    Use unsecured loans: If the equity in your home is not adequate or you do not own a home, go for an unsecured personal loan. These loans are more difficult to get, but once you are approved, you will benefit from the lower rate of interest with this type of consolidation loan.
    http://debt-trap.com/category/Debt-Consolidation-Basics.html

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