What's the best debt conolidation program for bad credit?

Question

My girlfriend and I make only about 7.50/hr, average about 30 hours a week, so that's barely enoughto get by let alone support a kid. I dont know much about these programs and I realy don't wanto get scammed. The last thing I need are bigger holes in my pockets.

Answer 1

i an totally against debt consolidation you dug the hole get a ladder and get out on you own!!!

put all the bills in a stack and start at the top and say we can pay this many with out taking food from out mouth and lose the roof over our head == the next bill you pick up one of your wants gos -- cable tv
next bill payment is replaced by cell phone
next bill by the internet server (might as well hock computer while you are at it)
just keep going till you have all of your bills covered == and most important spend the extra 10 hours you are not working networking trying find full time 40 hour week jobs!!!

Answer 2

Debt consolidation is an option, and you should look into it. Just be careful about WHAT you're getting into. Some plans, because of their higher APR rates get you into more trouble than you were.

Also, some lenders look poorly upon it later on. Some institutions believe that it really is a black mark. It will depend upon the types of deals that your particular company or lender work out, and of course, your own individual circumstance. For some with absolutely NO way out, debt consolidation is a welcome option.

Take a good hard look at all the options and plans offered, and don't let a single company pressure you into something you just can't do. Make sure that you're comfortable with the plan offered before you commit to it.

In any case, it doesn't hurt to investigate debt consolidation as an option. It doesn't cost you anything to find out more information about it.

If you want a place to start your investigating, there's information and listings for debt consolidation providers on the page listed below. You'll probably find something of use there:

http://axalda.info/debt-consolidation.html

Answer 3

I would go to the library and borrow and read Dave Ramsey's book, the Total Money MakeOver. Several other books have some good advice on this as well, I do like his plan.

I think the other problem that is evident is that if you're making $7.50/hr, then you need to be thinking about another or a second job that can turn into a better future and career.

Answer 4

Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loanold loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so you’ll no longer have to deal with harassing phone calls and daily mail.

Answer 5

You are right to be wary. Most are scams, or at least, will charge you up the whazoo to set it up.