Should I call one of those debt consolidation companies and see what they can do for me? How does that work? What will that do to my credit? How long will it be affected for? Will I still be able to use credit cards?
2007-04-21 11:54:17 · 2 answers · asked by nycoolman 2 in Business & Finance ➔ Taxes ➔ United States
Use a REPUTABLE debt consolidation company.
I used this one http://greenpath.com/ and paid off over $35k worth of debt in just over 3 years. Now my credit score is mid 700's.
2007-04-21 11:57:08 · answer #1 · answered by ValleyR 7 · 0⤊ 1⤋
DON'T CONsolidate at all. That simply renames the debt but does nothing to pay it off. More people that CONsolidate end up running up MORE debt because they keep spending more than they make. Get yourself on a budget. pay the minimum on every debt except one. Put every thing you can squeeze out of the budget towards that debt. When it is paid off, start attacking the next debt. When you are done, you will never borrow again.
2007-04-21 13:20:41 · answer #2 · answered by STEVEN F 7 · 0⤊ 1⤋