Credit Repair Information

brentineros asked:


DEBT CONSOLIDATION AND MY CREDIT SCORE

LOY

cris_romy asked:


I have a debt for 20000 in credit cards I need to consolidate them into one payment.. What are the advantages and disadvantages with these companies??. How can I choose the right one/?? Waht should be aware of?? thanks..

KEENER

just here asked:


If so, do you recommend it? What should I look out for? How does it work??

SAYLOR

ABIGAIL asked:


I ran out of cash meeting uninsured broken arm surgury, then started using credit cards. Did the low rate transfers and all that stuff. Now back to work, but could not make payments last few months. Hounded by their phone calls all the time. Have not answered their calls. But I am now working again and can start making payments. I am ready to contact the credit card companys. Before I do, I would welcome any advise (or benefactors, Ha,Ha). Totally, by rough calculations I owe about $80,000.
As an after thought, I am aware there were changes in the bankruptcy laws but do not know the specifics. Is bankruptcy a good option. Basically I have zero assets, no real property.

In closing, who is a reputable debt consolidation company, is bankruptcy a viable alternative, or is their an an alternative I do not know of? Thank you for your advise.

P.S.
Spend $10 for a non-slip pad for your bathtub. Money well spent !

GADDY

PizzaTony asked:


This is related mainly to my personal business, and personal finances. Any help on this, or an organization to help with credit card debt consolidation, would be greatly appreciated.

SWISHER

SHOP GIRL asked:


My friend and her husband have a huge credit card debt (42,000) and she recently had to stop working due to a difficult pregnancy. They cannot make their payments any longer. The debt is in her name only and they are considering a credit card debt consolidation company but she is wondering would it affect her husbands credit if she filed it in her name only. Anyone been through this or have advice? Serious answers only please…they are having a really rough time right now.

MCCLUNG

shauna asked:


Whats the best place for this type of loan? Banks?

BUFORD

Daniel Major asked:


Unfortunately, it always seems like that there is a never ending supply of credit card bills flying into our letterboxes. It is not uncommon to feel as though we are no longer able to control our debt and if you are feeling like that perhaps it is time to consider credit card consolidation.

The use of credit card consolidation can help you breathe that much easier about your credit card debt as it eases you back into the driving seat. The problem is, and there is no denying it, getting into debt was the fun part because you had been spending borrowed money on whatever you like and whenever you like without worrying about the consequences. It is when your credit lines become exhausted or your minimum payments become too high to afford that the problems begin and your debt becomes unmanageable, it is no laughing matter and it is time to take steps to rectify this problem.

But why use consolidation? Well, there are a multitude of different reasons, but here we will highlight the best five that might make you want to consider credit card debt consolidation.

Manageability of Debt:

Consolidation works by combining all your debt into one easy to manage debt; meaning one bill and one repayment each month instead of countless bills arriving at different times and all with different repayment dates. The benefits of this are obvious. The last thing anyone needs is a credit history with black marks and with a large number of creditors to keep track of each month it can be easy to miss a payment and by doing so be detrimental to your credit score.

Reduced Payments:

In many cases, by consolidating your debt, your single monthly payment, will likely be a lot lower than what you were paying previously.

Why is this? Quite simply, as is often the case with consolidation, you will receive a much lower interest rate than those rates you were experiencing with your original creditors.

Improved Credit Score:

If you have reacted to your situation before your credit score has been affected by missed payments, congratulate yourself on taking preventative action. However, if you are looking at consolidation to get you back on track after defaulting on payments your credit score will already have been adversely affected; Consolidation will help you to start making your payments on time again and your credit score will reflect this as a positive and thus improve over time.

Consolidation will put an End to Harassing Phone Calls:

Once you have started the consolidation process and your payments are being made on time every month, the calls from your creditors will stop. The anxiety often experienced by this constant harassment can be unbearable so when the calls stop it makes life a whole lot easier again. No more important calls missed because you were too worried to answer the phone because it may have been a creditor calling!

Credit Card Consolidation can Eliminate Debt Quickly:

Once you start the consolidation process, you could find that your debt will start to be paid off much more quickly than before especially if you take steps to pay as much as you can afford each month! In fact, you can use certain methods of debt elimination to work alongside a credit card consolidation loan that could have you free of debt in as little as three short years!

Conclusion:

Credit card debt can be controlled and cleared effectively when you deal with it using the right tools and the 5 reasons above should be enough to show that credit card consolidation loans are the perfect tool for the job.



ACOSTA

drogers43111 asked:


Is there way to consolidate my credit card bills and get a lower payment without affecting my credit?

TOTH

Sharla asked:


Anyone have a good site with a listing of credit card debt consolidation providers?

WENTWORTH