what's the name of a credible debt consolidation company for someone with under $10,000 in debt?

Answer 1

None. They all are just making money. All they can do is turn $10000 debt into ------$10000 debt - and a fee.

Spend Less. Earn More. If you have to work yourself out of it, you won't be as prone to get back into debt.

Answer 2

I'm confident that you might find every financial clarification at: loandirectory.info-

RE What's the name of a credible debt consolidation company for someone with under $10,000 in debt?

#EANF#

Answer 3

Debt Consolidation means lots of things in this business. If you want a loan - go to your own bank. If you want a credit counselor, I recommend Family Financial Education Foundation in WY - [phone], it is a Consumer Credit Counseling company. Tell Brent that Cherry sent you. I've put a lot of clients in their programs and they've done a great job of helping them.

You shouldn't be in a settlement company or consider bankruptcy as your debt is too low. I am a financial counselor for a settlement company.

Answer 4

All those companies do is; stop paying your bills until those debts go to collection. Then they barter with those debters to pay a portion of the debt. It does save you cash, because instead of paying 10K you will settle for 5-6K. However, your credit will get completely destroyed for about six years. Usually devistating for someone so used to having credit cards. I would recommend bankruptcy before debt counciling.

Ideally what you should do is pay the minimum payments on all the credit cards but one(the one with the smallest balance). Zero the balance on that one as quick as possible, then don't cancel it or use it again. Then go to the next smallest balance and pay off that one as fast as possible. Then the next one, then the next one. Before you know it the interest you are used to spending will be WAY less, because some cards will be paid off. Your credit score will sky rocket as well. So when your balance is down to 5-6K some of those cards you paid off will start sending offers for 0% interest for 1yr cards. Accept one or two of them, and then do a balance transfer from your remaining cards to the 0% interest cards. You can get 0% interest paid off quickly. If your confident you can't do that, then get a debt counciler. Cause if you can't pay your bills, credit isn't for you anyway, so it won't matter that your credit score is awful.

Good Luck-email if you have any questions.

Answer 5

I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.

Answer 6

I agree with pater. You may need to meet with a credit counselor rather than converting your debts to another debt.

I recommend finding a reputable credit counselor that you can personally visit.

Answer 7

a bank or a credit union