is there a non-profit co. that will help me consolidate credit card debts?

Question

i want to be able to clear my debt. no one will lend the money to someone way behind on pmnts. i would like to make 1 monthly payment without struggling to make ends. but at the same time i would like name cleared after i repay the creditors. i dont want to do bankruptcy. the debt is around 8000

Answer 1

I went through Kimberly Credit. Do a search for their website. They were reputable, and all of my bills were paid ontime. Keep in mind, there are a few things you should know about credit counciling agencies. (non-profit)

1. They still charge you a monthly fee. (which is included in your payment)
2. The first months payment they keep, until you make the second month. (this can put a bad mark on your credit for missing 30 days)
3. There will be a note on each of your accounts stating "this account is being managed by a credit counciling agency" on your credit report. (This can impact getting credit while your using them and 6 months after you stop)
4. All of your accounts will be cancel if they are being managed by a credit counciling agency.

The only possitive outcomes were:

1. The interest rates were lowered.
2. The bills were paid off in a certain time frame.
3. I could cancel with them any time. (however, your accounts will remain closed!)

Answer 2

If you find a non-profit let me know so I can sign up too, LOL. The only nonprofit I know of is HUD but you can't get a consolidation loan from them. If you are a home owner, chances are you have equity (money) available to you that will allow you wipe everything out at once and allow you to skip a months worth of payments all together (including your mortgage). Not to mention by doing a refi-consolidation loan you can write off all the interest on that consumer debt that wouldn't have been able to otherwise. Check out www.thelendingcenter.com maybe they can help.

Answer 3

First, enable me provide my common warning approximately consolidation loans. many people have fallen into this capture. They take out a private loan to pay off their credit enjoying cards....then turn around and run up the credit enjoying cards returned. Now they're in two times the quantity of debt, and finally end up submitting for financial disaster. I surely have considered this take place many situations. That suggested... in case you have a house get a house fairness line of credit. The activity fee is low, and it is tax deductible. you may get a private loan, yet attempting to get a $12k loan with out secure practices could be confusing. i'm unsure you will discover a mastercard with a $10k decrease the two, yet once you will discover one with a brilliant activity fee, do this. For now, pay off that card with the small stability as right now as possible, then pay off the vast debt. additionally don't be afraid to call the mastercard organization up and ask them to decrease the fee. in some situations you will seize them on a robust day, while they're performing human.