what is the best way to consolidate credit with a poor credit score?

Answer 1

The very first thing you need to do is get all your bills together and include collection accounts of the last 2 years. Second get a copy of your credit report. Now the real work will begin. Start by calling the collection agencies that hold your past due accounts tell them you want to make a settlement. The collection agent will tell you a figure. Now remember before the actual call figure that you can afford 50% of what you owe to be your bottom line and 65% being your top. They should come within that figure. If they don't and they are higher start negotiating and tell them that you can only afford this. Usually this works. Make sure they will send you a letter stating that you paid the account off once the check or money order clears their account. Give it 2 weeks after you sent the check.

Next take your current bills and split the minimum payment into 2. Mark these payments on a calendar. As soon as you get the bills you will pay the first half of the 2 payments. In 2 weeks you will pay the 2nd half. This reduces your debt and the amount of interest built up over a 14 day cycle instead of a 28 day cycle. You will be amazed how fast your bills will dwindle and get paid off. You can do this with utility bills too. Also this will build your credit score back up within 3 months. DO NOT GO TO CONSUMER CREDIT COUNSELING SERVICES.

They will bring down your credit scores and it will be like filing a chapter 13 bankruptcy. They don't tell you that the credit card companies will still report them late although you are paying the Consumer Credit Counseling service on time. It is easier to do it yourself.

Look at the credit report and see what collections and dead accounts that are not updated for over 2 years. Go to the credit reporting companies web site and dispute these accounts stating that they need to be removed. At first maybe around 20-50% of those accounts will be removed then the second time you dispute the remainder only 5% will get removed. In the meantime you are rebuilding your credit as stated above.

Answer 2

don't be conscious for loans by ability of a economic employer until eventually it is your human being. you will see that if a number of your charge playing cards with decrease expenditures of activity will help you move the soundness of one or 2 of your larger rated playing cards. also, in the intervening time as for a credit reduce strengthen and or activity fee relief on all playing cards. the upward push (in case you do not use it) will decrease your debt to income ratio which could strengthen your credit status. The decrease activity fee may help extra or your charge flow to the precious until eventually you paintings all of it out. Your credit status is respectable and also you are able to purchase a house with that score in case you're taking care of your debt properly. in case you do this you pays off your playing cards from the fairness in the residing house and then be ready to jot down off the activity you pay on your taxes.

Answer 3

Consolidating your credit will do nothing until you change you habits of spending. Try dedt snowballing, its the only thing that will really help you.

Answer 4

go to an agency who deals with that. You will be surprised how they can work with the credit card people and reduce your debt or get lower percentage. They will work with you but also make you see where you did a mistake in going overboard. They changed my daughter's lives.