SavingsTalk.com

saver · 10-31-2007, 02:06 PM

I have over 10,000 worth of credit card debt and a personal loan of 2600 with Beneficial. I am thinking about consolidating it and wondering if anyone has had success with this. I did not want to get a loan but rather do a consolidation with a company that will lower my interest rates and monthly payments. I have so many cards and really think it will help to have just one payment. <br />Can someone recommend a company to me and tell me why they have worked for you--NO SETTLEMENT COMPANY'S--I know these are bad news and I don't want my credit ruined.<br /><br />Thanks<br />

coolio · 10-31-2007, 02:06 PM

I used AmeriaDebt and no problems. They consolidated two card, lowered my interest rate and my credit score is still outstanding.

banelli · 10-31-2007, 02:06 PM

I suggest you use the John Comuta program. Well worth it. My family reduces its debt by $30,000 per year. This includes my mortgage. I will be debt free in 4 years.

einstein · 10-31-2007, 02:06 PM

I used Debt Counseling Corporation. They have been great--I spoke with several companies before I went with them. I researched with the BBB, the Banking Departments, the Attorney General--and word of mouth. I was recommended to them and now I recommend them. They helped me with a budget and gave me a lot of really helpful information. Not only did they lower my interest, lower my payment and consolidate the 11 accounts I had, they followed up with me--I thought that was important. That follow up gave me the information and motivation to keep going and keep making the payments the way I was supposed to.

Here is thier website--I would recommend checking them out
http://www.debtcounselingcorp.org

200pips · 10-31-2007, 02:06 PM

Having been there I did as follows:

Went to United Way and Better Business Bureau approved credit counselour - many of UWay sponsored agencies are free if you income qualify.

Got a copy of my own credit report - cost about $20 from Experian or a major credit rating company. Before I go to borrow I want to see what they are looking at and have my own copy in hand. The lower the credit rating often the higher the interest rate.

Went to four reputable banks starting with the ones where I had some account - checking, savings, car, whatever and laid out my case and took four offers and then took the best one.

If you own a home, you can get an even betyter rate by consolidating the debt and securing it by a lien on your home provided you have at least $15,000 to $20,000 in equity in the home.

I hope this helps!

Michael G. - New Haven

Hope this helps.

Michael G. - New Haven

ivory · 10-31-2007, 02:06 PM

You need a written budget. Otherwise, this is all for naught. Write out ever single penny coming in and every single penny going out. This is how the rich do it. (REALLY).

List your debts, lowest to highest (in balance). Pay the minimum on ALL of them except the lowest balance, pay the lowest balance off, first. Disregard interest rate as it's immaterial. Your goal is to wipe it (ALL) out.

Cut up the cards. Pay cash. Build some wealth. Setbacks pave the way for comebacks.

broker · 10-31-2007, 02:06 PM

DCC-Debt Counseling Corporation. i see that someone else up on the list used them to. they did all that and now i am in such a better spot.

DPG · 10-31-2007, 02:06 PM

You don't want to pay fees to consolidate. Do it yourself: http://www.usaindebt.com/2007/10/02/getting-out-of-the-debt-hole-part-one/

10-31-2007, 02:06 PM	#1
saver Greenhorn Join Date: Jun 2006 Posts: 34 Rep Power: 6	Debt Management Program/ Consolidation? I have over 10,000 worth of credit card debt and a personal loan of 2600 with Beneficial. I am thinking about consolidating it and wondering if anyone has had success with this. I did not want to get a loan but rather do a consolidation with a company that will lower my interest rates and monthly payments. I have so many cards and really think it will help to have just one payment. <br />Can someone recommend a company to me and tell me why they have worked for you--NO SETTLEMENT COMPANY'S--I know these are bad news and I don't want my credit ruined.<br /><br />Thanks<br />

10-31-2007, 02:06 PM	#2
coolio Greenhorn Join Date: Jul 2006 Posts: 21 Rep Power: 6	Debt Management Program/ Consolidation? I used AmeriaDebt and no problems. They consolidated two card, lowered my interest rate and my credit score is still outstanding.

10-31-2007, 02:06 PM	#3
banelli Greenhorn Join Date: Jul 2006 Posts: 44 Rep Power: 6	Debt Management Program/ Consolidation? I suggest you use the John Comuta program. Well worth it. My family reduces its debt by $30,000 per year. This includes my mortgage. I will be debt free in 4 years.

10-31-2007, 02:06 PM	#4
einstein Greenhorn Join Date: Oct 2007 Posts: 13 Rep Power: 0	Debt Management Program/ Consolidation? I used Debt Counseling Corporation. They have been great--I spoke with several companies before I went with them. I researched with the BBB, the Banking Departments, the Attorney General--and word of mouth. I was recommended to them and now I recommend them. They helped me with a budget and gave me a lot of really helpful information. Not only did they lower my interest, lower my payment and consolidate the 11 accounts I had, they followed up with me--I thought that was important. That follow up gave me the information and motivation to keep going and keep making the payments the way I was supposed to. Here is thier website--I would recommend checking them out http://www.debtcounselingcorp.org

10-31-2007, 02:06 PM	#5
200pips Piggy Bank Join Date: Jul 2006 Posts: 54 Rep Power: 6	Debt Management Program/ Consolidation? Having been there I did as follows: Went to United Way and Better Business Bureau approved credit counselour - many of UWay sponsored agencies are free if you income qualify. Got a copy of my own credit report - cost about $20 from Experian or a major credit rating company. Before I go to borrow I want to see what they are looking at and have my own copy in hand. The lower the credit rating often the higher the interest rate. Went to four reputable banks starting with the ones where I had some account - checking, savings, car, whatever and laid out my case and took four offers and then took the best one. If you own a home, you can get an even betyter rate by consolidating the debt and securing it by a lien on your home provided you have at least $15,000 to $20,000 in equity in the home. I hope this helps! Michael G. - New Haven Hope this helps. Michael G. - New Haven

10-31-2007, 02:06 PM	#6
ivory Greenhorn Join Date: Jul 2006 Posts: 10 Rep Power: 0	Debt Management Program/ Consolidation? You need a written budget. Otherwise, this is all for naught. Write out ever single penny coming in and every single penny going out. This is how the rich do it. (REALLY). List your debts, lowest to highest (in balance). Pay the minimum on ALL of them except the lowest balance, pay the lowest balance off, first. Disregard interest rate as it's immaterial. Your goal is to wipe it (ALL) out. Cut up the cards. Pay cash. Build some wealth. Setbacks pave the way for comebacks.

10-31-2007, 02:06 PM	#7
broker Greenhorn Join Date: Jul 2006 Posts: 39 Rep Power: 6	Debt Management Program/ Consolidation? DCC-Debt Counseling Corporation. i see that someone else up on the list used them to. they did all that and now i am in such a better spot.

10-31-2007, 02:06 PM	#8
DPG Greenhorn Join Date: Jul 2006 Posts: 10 Rep Power: 0	Debt Management Program/ Consolidation? You don't want to pay fees to consolidate. Do it yourself: http://www.usaindebt.com/2007/10/02/getting-out-of-the-debt-hole-part-one/

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