Does realy debth consultation works ,what is the cach ,is any one knows how does it works. thank you?

Question

I have almost 50000 debth and try to consulata it and i was wundering wha is the cach in this kind of buissiness.

Answer 1

The catch is you will get into a LONG term note with the debt restructuring company and quite often they set up interest only payments (or very near that with little principal). They pay off your debts but you will be into them for LOADS of interest over a LONG period. It is best to contact your creditors directly and negotiate payments with them - be up front about your situation.

And then, BUDGET AND GET DISCIPLINED IN YOUR SPENDING! (only emphasizing the importance)

You can recover - it takes time and sacrifice though.

Best of luck.

Answer 2

1

Answer 3

The best way to consolidate your debt is to refinance your home and include your debt. You will get a better interest rate on these bills then the rate they currently are at... It could help you save a lot of money per month.
Do not do a Credit Counseling Service. They hurt your credit, costs a lot of money in the long run, and mortgage lenders like myself look at them as a Chapter 13 Bankruptcy.

Answer 4

I suggest you educate yourself about debt and how to pay it back yourself. Debt Cons. will ruin your credit just like if you filed bankruptcy. Bankruptcy is rarely the answer.

Read: Total Money Makeover by Ramsey
And
Your Money Counts by Dayton