2007-04-23 08:40:53 · 8 answers · asked by knowitall 1 in Business & Finance ➔ Credit
No, they don't. We used Consumer Credit Counseling Service (CCCS) to pay back a bunch of credit debt incurred before my wife and I got married. Since paying off all the credit, we have never been turned down for anything because of a credit score. In fact, we have bought a house and both had great credit scores.
What you really need to think about is how much worse your credit score is when you have a bunch of credit cards with unpaid balances. That makes your credit score drop. If you are going 30, 60, or 90 days past due on credit bills, that makes your score drop. If you have the kind of debt that makes you think you might need help, get the help. It's better than getting dragged down by your credit. Plus, folks like CCCS will help you to budget better and help you learn to better navigate financial waters and credit use.
2007-04-23 08:47:47 · answer #1 · answered by Been There 4 · 1⤊ 1⤋
Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is a straight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
2007-04-25 20:54:00 · answer #2 · answered by gabriel jones 4 · 0⤊ 0⤋
YES! Usually you can pull yourself out of a debt problem with a plan. A good budget, an extra job, sell the car or the toys (ATV, boat, etc), etc.
For a good plan read The Total Money Makeover by Ramsey. His plan has changed our life. For once we have money left over each month and we choose to pay extra towards debt and get the debt off our back. For once we have money in the bank for emergencies. For once we feel like we can breath!
Debt consolidation is a rip off and it doesn't treat the problem- over spending. It is proven that most people that do debt cons are in more debt 6 -12 months after the debt cons because they didn't learn to control their spending.
Do yourself a favor, educate yourself and get out of debt! You will feel better!
2007-04-23 08:51:30 · answer #3 · answered by mldjay 5 · 0⤊ 0⤋
yes, you can consolidate your debts on your own:
Consolidating debt is an ideal way to reduce your amount and tenure of debt. You make a single payment to one lender on a certain date and this will help you clear off the debts faster. But the fact remains that debt consolidation is not easy all the times.
2007-04-24 00:41:24 · answer #4 · answered by See Saw 3 · 0⤊ 0⤋
My sister went to one of these places and they lowered her interest rates and was suppose to have her credit score back up if she made so many payments on time....
2007-04-23 09:01:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Yes and you might as well be filing Chapter 13, which would likely save you money or your best bet, Chapter 7.
2007-04-23 08:45:32 · answer #6 · answered by J - A 3 · 0⤊ 1⤋
your credit's already messed up if you have to consider them
2007-04-23 08:44:14 · answer #7 · answered by Anonymous · 0⤊ 1⤋
yes
2007-04-23 08:44:02 · answer #8 · answered by Anonymous · 0⤊ 0⤋