nikki asked:
I’ve become over whelmed with my credit card debt and I’m getting those phone calls because I’m missing payments and such. Anyway I’m looking for a credit card debt consolidation company that doesn’t ***** people over, anyone know of any from experience or just know a good one?
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I’ve become over whelmed with my credit card debt and I’m getting those phone calls because I’m missing payments and such. Anyway I’m looking for a credit card debt consolidation company that doesn’t ***** people over, anyone know of any from experience or just know a good one?
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#1 by Judy - November 14th, 2009 at 06:13
Be careful.
You are better doing this yourself.
First get a book called credit repair for dummies from your bookstore.
If not, call your local consumer credit councelling service (something like that). Look it up in your phone book, not the internet.
I’ve heard nightmares about debt consolidation companies.
Do your google research before considering these. Some are pure scams.
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#2 by physicist - November 17th, 2009 at 05:46
Most of these places are scams. Call you credit card companies and tell them that you are in danger of bankruptcy and you would like to work out an alternate payment plan. The regular customer service people usually can’t do this, ask for loss prevention. They will probably freeze your account so that you can’t use it anymore and then set up a payment plan. They want to avoid you being pushed into bankruptcy because then they lose their money.
#3 by exotx - November 20th, 2009 at 13:33
I would not go to one of those specialized companies. Go to your trusted bank (or a credit union in your area) and apply for a debt consolidation loan. This is a loan that typically has a lower interest rate than the individual cards you carry, making this single loan a better trade than having multiple revolving accounts (i.e. credit cards). You get the loan and use it to pay off your cards, then you make just that one payment back to the bank. A regular old bank can do this and is likely more safe than some fly-by-night credit card consolidation company that you’ve never heard of. First try your own bank or some other local ones. Also try your local credit unions, as they sometimes offer lower loan rates and have higher approval rates. Go to to view loan rates in your area.
#4 by saved_astronaut - November 23rd, 2009 at 22:47
self help may B best.
#5 by Happiness Lies Within Us - November 26th, 2009 at 16:02
Try they aren’t that bad (7% for me) and definitely quick.
The Idea is to find a loan at less interests than you pay now, and fixed interests.
Credit cards can have high interests so it shouldn’t be difficult to beat them, depending on your credit score.
Whoever you go with, you should always check if they belong to the American Bankers Association at or at least the the above people do.
#6 by clepto - November 28th, 2009 at 17:30
when you go to these scammy companies you end up losing even more, reason is because whatever the consolidated you’ll have to claim on your taxes, so say you owed $30,000, Company consolidated it to $5000, your going to have to claim that 25,000 when you do your taxes. Its like you made $25,000 that year,
Be Weary Weary Careful
#7 by James E - December 1st, 2009 at 16:40
123debtsolutions are a good firm, I know 1 or 2 people that are happy with their services.
Any they are reasonable, i.e. wont try to squeeze you
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