I am with credit counseling company for about 1.5 yrs now. they said they will pay off my debt in 4 yrs when i started. is it true? i did pay pretty good amount of money already. the balance went down to about 8500 within 1.5 yrs. my total debt left about 14000.
2007-03-04 05:42:11 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
If you've managed to pay off $8500 in a year and a half, I'd say you're doing a pretty decent job of getting that debt down. You've still got a ways to go though I see.
Hang in there. It took you a long time to get into the mess. It's going to take some time to get out of it. But you're on the right track.
Once your debt is gone, it will take some time for your credit score to go back up. It's sort of like when a friend does something horrid to you. It takes a long time before you trust them again. Same with the banks. As you continue to be a good credit risk, pay bills on time, don't run the credit cards up again, your score will improve. The main thing is to just keep paying this off and pay it on time and don't buy things you can't afford again in the future. I don't think you want to go through this again so you'll probably do a great job once you're back on your feet.
2007-03-04 06:06:33 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
Just keep doing what you're doing and you should be fine. The credit counseling companies are there to help you so keep doing what they told you. It's better for you to pay off your debt rather that file for bankruptcy. Good Luck.
2007-03-04 05:46:32 · answer #2 · answered by CctbOh 5 · 0⤊ 0⤋
Based on your info it sounds like what you're doing is working just fine.
2007-03-04 06:35:56 · answer #3 · answered by douglas l 5 · 0⤊ 0⤋