2007-10-17 15:20:31 · 11 answers · asked by ohioleele 2 in Business & Finance ➔ Credit
wow, sounds like you really need to talk to someone and find out your best options. I had 23000 worth of credit card debt and felt like the world was coming down on me. I did a lot of research and finally came across this company Debt Counseling Corporation. the counselors there are great--really know what they are talking about. My counselor helped me with my budget and then also recommeneded the debt management program to me. this has saved me--i say it over and over!
they reduced my interest, consolidated it and lowered the payment for me. I paid my entire debt in full! so it didn't affect my credit in a negative way. They are NOT a settlement company--stay away from those--they are bad news! check them out --they will help--and it is a free call!
here is their website: http://www.debtcounselingcorp.org
2007-10-17 23:21:59 · answer #1 · answered by Blondie 3 · 0⤊ 0⤋
If a person has accumulated a large amount of credit card debt due to multiple credit cards, the need for a proper counseling for credit card debt consolidation can't be understated. Credit card debt consolidation counseling helps a person get vital insights into the facts that can help him get control over the credit card debt.
Credit card debt consolidation counselors are experts with a good knowledge of debt management, budgeting and behavioral patterns of credit card holders. These services are vital for those struggling to manage their credit card debts. Also called credit counseling or debt counseling the credit card debt consolidation counseling brings immediate relief to a credit card holder.
A person seeking credit counseling can get it from two types of organizations. The professional or commercial organizations, and the non-profit organizations. As depicted by its name or categorization, the commercial organizations charge money for their credit counseling sessions and consolidation help on the other hand the non-profit organizations offer free of charge services. Just because the non-profit organizations are free, it doesn't undermine their quality of service. The persons associated with such organizations are thorough experts and have lived the trauma of being under credit card debt themselves and hence bring their vital experience to the credit card holder.
When a person approaches a credit counseling agency, the first thing it will do is to take stock of the situation and get various facts about the credit card debt. The credit counseling agency collects data about the income, expenditure and spending habits. It will guide the credit card holder about budgeting benefits and try to inculcate good financial habits. Read more from: http://www.credit-card-gallery.com/article/353,Credit_card_debt_consolidation_and_credit_counseling_great_tools_to_get_rid_of_credit_card_debt
2007-10-18 00:46:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Consumer Credit Counseling Services
2007-10-17 15:26:06 · answer #3 · answered by Beckers 6 · 0⤊ 1⤋
The answer depends on the kind of help you are looking for. Consumer Credit Counseling is a good start. You can call your credit card companes and try to lower interest rates or work out payment arrangements. You can pick up a second job to pay it off faster. You can consult an attorney for bankruptcy.
2007-10-17 15:34:58 · answer #4 · answered by Gatekeeper 4 · 0⤊ 1⤋
You can consolidate the debt with a home refinance, however you are trading a non-secured debt for a secured one on your most valuable asset, your home. You can just not pay it and eventually fight with them in Court. This can work if you know what you are doing, however it is not for everyone, dealing with creditors and Courts. The other way to go is file Bankruptcy chapter 13 or 7
2007-10-17 18:41:47 · answer #5 · answered by Anonymous · 0⤊ 1⤋
If that amount is more than your yearly income, you need to seek professional help from a credit counselor, and consider filing bankruptcy. If that's less than you make a year, you need to STOP using the cards and START making payments. If you got yourself into this, you should be able to get yourself out.
2007-10-17 23:19:00 · answer #6 · answered by zippythejessi 7 · 0⤊ 1⤋
Chapter 7?
2007-10-17 16:32:52 · answer #7 · answered by Josh 6 · 0⤊ 1⤋
sounds like you are beyond help and seriously need
to consider bankruptcy.
Consolidation Companies will purposely make you
late so they can negotiate, and then it just keeps
going downhill after that. Check Federal Trade Commission
Website
read thru creditinfocenter com
and if you have collection agencies up your butt
also read
buddhibbs com
2007-10-17 15:50:03 · answer #8 · answered by Anonymous · 0⤊ 1⤋
Where in the world did you get those kind of credit limits?
2007-10-17 15:25:49 · answer #9 · answered by Anonymous · 0⤊ 1⤋
daveramsey.com
go to his website and listen to his radio show. if he cant get you outta debt no one can. and it's free!
2007-10-17 17:50:11 · answer #10 · answered by heybulldog 5 · 0⤊ 1⤋