Debt Consolidation Care Answers
Debt Consolidation Care Answers

 

Debt consildation: Is it my option?  

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I have over 60,000 dollars in credit card debt. I am interested in finding someone that can give me some direction. I want to pay my debt but need some direction. I am a professional and have a good job and would like to do this without damaging my credit if this is possible

asked Jul 29, 6108 11:00 AM

Anonymous
Best Answer
9
best answer

Hi Schn_debt,

Welcome to the debt consolidation care forum. I understand the trauma you are undergoing with debts amounting to over 60,000 dollars. But don't worry. We are here to help you overcome your debt crisis. In your condition debt consolidation is the ideal solution. With debt consolidation your debt amount can be reduced to a great extent and your late fees and taxes can be totally eliminated. Debt consolidation consolidates all your unsecured debts into one single amount and restructures the payment scheme in easy monthly installments. Your credit score faces the least amount of impact with debt consolidation whereas with bankruptcy it is reflected on the report for the coming ten years. Thus debt consolidation is the ideal choice in your case. By enrolling in debt consolidation programs you can get rid of debts in the minimum span of time and with the least impact on your credit score.

answered Jul 29, 1658 11:00 AM

15 Answers

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Quote:

It is a very good idea to get a handle on your debt before you enter the real world. because bad credit can be a hindrance for many thing such as buying a house or obtaining a job.


It not only puts a bad credit report but also creates a psychological imbalance as one always feels down before he starts thinking about the future.

Roxette

answered Apr 20, 2005 09:42 AM

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Quote:

Originally Posted by mntreder
HI: I am also new to this debt consolidation thing...I guess my biggest question is if there is a given amount of credit debt you need to have to be able to consolidate. I dont have as much as some of these people, but Im a college student and my credit cards are pretty much just taking interest from me and no principle is getting paid off. I dont want to start off my "real" life with bad credit or huge debts...but it feels like the credit card companies have backed me into the wall...

Matt


Some companies do have a minimum but many others do not. I tried to consolidate $4,000 before. Some companies would not take me because they considered that debt too small. Other companies did not have a minimum and had no problem with helping me consolidate. Most companies usually charge fees so be prepared for that on top of your monthly payments.

It is a very good idea to get a handle on your debt before you enter the real world. because bad credit can be a hindrance for many thing such as buying a house or obtaining a job.

answered Apr 20, 2005 12:44 AM

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Hi mtreder,

Welcome to the debt consolidation care forum.icon_biggrin.gif


Curtail your credit card usage as much as you can. Plastic money or credit cards can be a trendsetter in today's age, but can often prove to have negative implications in life.

The problem you are suffering from is not new amongst the young age group and there are several ways to come out from this trap.

Surrender your cards, which you can do without. Don't spend unnecessarily and try to use cash instead of credit cards.

If the debt amounts are suffocating you, then it is ideal to enroll yourself with a debt consolidation program and clear your debts in due time. You will have to pay an affordable monthly installment, which I'm sure will be much easier for you.

Control your temptation with credit cards and I'm sure you will be able to lead a tension-free life and have a clean credit report.

Keep in touch and share your experience with other members of the forum.

Cheers,
Jason

answered Apr 20, 2005 12:17 AM

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Hi Matt,

People at your age just get tempted to anything and that is the reason for having such huge debts. Anyways, it is something that you have learnt and looking at you, many more might get cautious and try to avert such situations. Now, I am sure that in future, you will come up as a much more responsible and balanced human being. Anyways, now that you need to make your credit card payments, just register yourself for a debt consolidation program. This way, if you have a regular flow of income, then it won't pressurize you much financially and at the same time, the payments will get paid monthly, thereby reducing your chance of a bad credit report.

You can go through this site http://www.debtconsolidationcare.com so that you can understand the pros and cons of this program and make yourself completely knowledgeable. You can register yourself for free and one counselor will get in touch with you and then make your first move towards a debt free world after his consultation.

Keep in touch
Roxette

answered Apr 19, 2005 12:13 PM

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HI: I am also new to this debt consolidation thing...I guess my biggest question is if there is a given amount of credit debt you need to have to be able to consolidate. I dont have as much as some of these people, but Im a college student and my credit cards are pretty much just taking interest from me and no principle is getting paid off. I dont want to start off my "real" life with bad credit or huge debts...but it feels like the credit card companies have backed me into the wall...

Matt

answered Apr 19, 2005 10:40 AM

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Hi fallenmacleod

debt consildation and debt management don't differ much from each other. It's the pretty same thing and sometimes called with different names. It's the way you look at it and the time you need the most. However, you make yourself well informed going through this page at http://www.debtconsolidationcare.com/debt-management.html

Remember to make your move faster so that your interest doesn't keep on souring higher like the thermometer.

Take care
Roxette

answered Apr 18, 2005 02:12 PM

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Roxette,
Thank you so much for your advice but I am still confused. Is debt conslidation the same as debt management? If not how do they differ? I was trying to fill some stuff out on the DCC main site but I am using my mom's computer and no longer even carry my credit cards in my purse but keep them in my safe at home and so I couldn't fill out my entire debt since I don't have access to all my account numbers (my mom used to be on my accounts as well). Again any help is most wanted.
Fallen MacLeod

answered Apr 16, 2005 06:41 PM

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Hi fallenmacleod

I know what you mean. But if you look at the other side of it, then you can't keep your dues just like that as the interest will keep on souring high. You need to choose for something like debt consolidation sooner or later until the time you get a secure job. Moreover, you can opt for debt reduction program if it suits you because most of your principal amount will get eliminated by choosing this program. Or else, you can surf through this site and consult the counselors who will guide you to the best route.

Have a look at this site http://www.debtconsolidationcare.com as it can show you some brighter side of this whole thing.

Thanks with regards
Roxette

answered Apr 16, 2005 05:55 PM

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I just signed up for this today and I'm not sure what I'm doing. What I am sure of is that while I have a good job I don't have enough money to cover all my expenses when they come due and my credit cards ( I have 4 of them) are the biggest chunk of my budget. I have roughly $10,000 or more in credit card debt, sadly most of that was needed things like grogeries and gas for my vehicle and my husband's vehicle back when I was at a dead end job. I'm unsure if debt conslidation is for me, or if I need another route. My credit rating is still fairly good (I think) and I really don't want to damage it as my husband and I would like to get a house of our own to start a family in (we currently live in an apartment.) Any advice is VERY much appreciated.

Sincerely,

Fallen MacLeod

answered Apr 16, 2005 05:44 PM

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If you are having a good job at your end and have decided to pay off the debts, then you can definitely go for debt consildation as it won't add much pressure into your daily life. However, try to reduce your expenses to the minimum as this program will only work at the best if you are having a control over yourself. Otherwise, it might add more to your problems due to your regular unruly spending habits.
Consult this site for more details as it will be of tremendous help to you. I have achieved best results being handled by the people working in this site.

http://www.debtconsolidationcare.com/


Regards
Roxette

answered Jul 29, 5845 11:13 AM

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