2006-10-04 10:04:13 · 12 answers · asked by k_zarz_24 1 in Business & Finance ➔ Personal Finance
Some are good and some are bad, as with everything in life.
Here's some reading that will cover some of the points, all free
http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
http://credit-cards.ebookorama.com
good luck!
2006-10-04 17:22:20 · answer #1 · answered by ken_voss12345 4 · 0⤊ 0⤋
What kind of debt do you have? Do you own a house? I am a mortgage banker at a top private mortgage bank. I probably see 5-6 debt consolidations through mortgage refinance every week. The client usually ends up saving hundreds of dollars a month, gaining tax deductible interest payments, and paying a rate that is less than half the rate of their credit cards. All are big wins for the consumer. I obviously love to talk shop so feel free to email me for further advice.
2006-10-04 10:07:27 · answer #2 · answered by J O 3 · 0⤊ 0⤋
Some are good, some are bad. Treat them as you would any other industry. The Better Business Bureau should be a first stop. Make sure that the company has a satisfactory rating with the BBB.
You may wish to try speaking with a credit counselor before taking on more debt. I recommend finding one in your local area.
2006-10-04 11:46:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you are considering debt consolidation, you need to do your own research. It depends on your financial situation and you need to work out which is the best route for you.
The most important step you need to take is to resolve to get out of debt - don't use debt consolidation as a way to keep on spending! Get help if you need it to work out a budget and a plan to repay all your debt until it's gone.
This website has a lot of useful information and resources on this subject.
I hope this helps. Good luck!
2006-10-04 11:18:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I think most of them want to charge you money and extend your payment times out forever. That is how to make money which is what they are in business for. It costs money to advertise.
I am sorry you are in debt. Try to learn to enjoy life without spending a lot of money. I run. I walk. I listen to the radio. I do not eat a lot of meat.
2006-10-04 10:08:37 · answer #5 · answered by jude2918 3 · 0⤊ 0⤋
They aren't. Many, if not most, will cause more damage to your credit than good. I've had dozens of clients who have done this and none of them have had a good experience. You'd be much better off to save your money, figure out a plan and implement it yourself.
Good luck!
2006-10-04 10:13:07 · answer #6 · answered by personal_finance_101 3 · 0⤊ 0⤋
Some, usually the non-profit ones, are okay. Check with your local BBB and your state human services for referrals. Stay away from anyone advertising on late night TV.
2006-10-04 10:06:29 · answer #7 · answered by daoco 4 · 0⤊ 0⤋
Don't waste your money on them. Most of them charge you something for their "service". You can talk to your creditors yourself and have your rates reduced. Pay your creditors directly. You don't need a third party to charge you to do the same thing.
2006-10-04 10:15:05 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Actually they are not. Like those people that helped you get into debt to help themselves, these are no different.
2006-10-04 10:12:08 · answer #9 · answered by Tneciter 3 · 0⤊ 0⤋
i do not know of the other companies but have knowledge of debt solutions, they are good, honest and do the job that is expected........
2006-10-04 16:14:20 · answer #10 · answered by churchonthewayseniors 6 · 0⤊ 0⤋