I have about $40,000 debt from 3 different credit cards and would like to know my options on getting rid of this debt, considering my credit scord is already down the drain. At this moment, I’m not concern about saving my credit score anymore. I can deal with the bad credit for 7yrs. Should I work with a debt consolidation company or stop payments and deal with the creditors directly? Hoping that they will reduce my balance. Any advice would be greatly appreciated.

I understand that no new credit lines can be open until debt is pain off using this service.

If you’re like many people, you worry that your debt is so big you’ll never pay it off. Every month you pay what you can, but paying the minimums on multiple cards and loans doesn’t improve the situation. Consumer debt consolidation may be the solution you need to help you get out of debt and stay there.

Types of Consumer Debt Consolidation Read the rest of this entry

With interest rates at lows not seen in decades it may be a good time for home loan refinancing. Of course that there are does situations that refinancing does not make sense and consulting a professional is at all times highly recommended. Refinancing your home loan can result in lower payments, can be employed for debt consolidation and creates the opportunity if using the equity for debt elimination

Obviously the main benefit of home loan refinance is having reduced monthly payments..  With interest rate as low as they currently,  its a good time. Making it more reachable for many.  With many existing homeowner just struggling to make ends meet. Lowering the monthly payment gives them the chance to increase their savings or use the extra money for other useful purposes, such as debt elimination.

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I’ve been wanting to do some debt consolidation and I tried applying at my personal bank but couldn’t get it. Does anyone know of a good place to go with fair credit?! How do people expect us to pay off our bills? I can’t do debt consolidation through a company because I’m only $7500 in debt and they require $10,000. Let me know! Thanks!

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I am really bad with paying bills and my credit has taken a hit these past couple years. I make enough money where I should be able to pay everything with no problem but for some reason I continue to struggle. Do you think a debt consolidation would be best for me and to help me improve my credit score? Does this really work?

With 125% home equity loans you can easily consolidate your outstanding debt even if you have not much equity left on your home. By applying for a 125% home equity loan you can get al the amount needed to consolidate all your debt and reduce the monthly payments you have to face each month significantly.

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Credit card debts are now commonplace and many individuals are looking for credit card debt assistance. The first step towards a debt free life is to start paying your bills on time and stop using your card. Consolidating your credit card debt has a lot of advantages.

1. Know how much you owe: An exact amount of how much you owe will help you come up with a plan to pay off your debt. The total amount that is due on your account multiplied by the interest rate gives you the amount that you will need to pay to your creditors. This is the amount you will need to pay off your creditors for borrowing that money. The longer you take to pay it off the higher will be the loan amount because of the interest rates being added to it.

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I make about $55,000/year and I currently owe approx. $34,000 in credit debt alone. That’s not including my car and student loans plus I still have rent to pay etc. I do not want to file bankruptcy if I don’t have to. I also would like to stay away from consolidation. My credit is average considering I have a high debt to income ratio, but I pay my bills on time.
Today, I was told by a company that they have something called debt management. I’ve never heard of that, but they said unlike debt consolidation where they lower both your interest rate AND balance, all debt management does is get the creditor to lower the interest rate. I would pay a monthly payment to the company and a monthly fee and they would make my payment for me.
At this point, I can only make minimum payments and my balance is going nowhere…Should I give debt management a try?
What are your thoughts and please state why or why not. They said this will not negatively affect my credit score.