Ok peeps Im going to need some help!

[0ne_sik_notch]

I know I'm not the only one in this situation, but I am going to look into debt consolidation I just hit 20k in debt with no job it has been hard to pay any of it. The help I'm looking for is if you or anyone you know who has gone through any debt consolidation companies, I would like to here some feed back, or if you have seen any local debt consolidation offices shoot me a pm


Now I leave this for open discussion for all that want to fix their debt and become debt free.

 

[wickedstangs]

I know the Navy base uses.

Cons
1. It will show up on your credit report as financial help..


Pros
1. One Payment all consolidated
2. Reduced Monthly Payments
3. Some Creditors will reduce interest rate

 

[Gibs]

I have sent people to Family services for these type things and yes they used that program. Yes it appears on your credit as having financial help. Most of those that I have sent have had all interest rates or amounts due lowered. It is expected that you dont open any credit during the payoff process. That is why they put the note on your credit report. You can quit at any time, but then the original rates and such come back into play.

They have worked wonders for people.

I have thought about it just to stop myself from starting anything new and so that I actually pay stuff off instead of just trading in and uping my limits...LOL I am not in trouble though so they advised against me using them.


Gib

 

[sdsubzero4]

I have used debt consolidation before and the balance and interest rate are reduced pretty good amount. It will show on your credit report for 3 years when I went through it. Its awhile ago but I think I used Consumer Credit Services, too.

I don't know of any good ones right now. But if I hear any I'll let you know.

 

[Tommy]

It affects you the same as a bankruptcy would, in terms of showing up on your credit, and reflecting on your score. A bankruptcy and debt consolidation both are similar, BK's now obligate you to repay your debt, unlike the past were it can be just wiped off.

on a positive note, bk's last 10 years on your credit profile, consolidations last 3-5

 

[0ne_sik_notch]

I have used debt consolidation before and the balance and interest rate are reduced pretty good amount. It will show on your credit report for 3 years when I went through it. Its awhile ago but I think I used Consumer Credit Services, too.

I don't know of any good ones right now. But if I hear any I'll let you know.

did it help you out? im thinking of doing it when i finally get paid

 

[sdsubzero4]

did it help you out? im thinking of doing it when i finally get paid

Yes. It helped and made a huge difference.

 

[wickedstangs]

Yes. It helped and made a huge difference.

Post the one you used for others...

 

[Lordgufi]

indeed because i'm soon to be in the same situation... i'm paying minimums on multiple cards/loans in order just come out on the safe side. sort of a " good for now screw me later " situation

 

[beejay31000]

i know how that all feels. i just got everything payed off this deployment....well, except for the wifes truck. thats still another 28k. got about 20 payed off tho

 

[0ne_sik_notch]

dang you should have the truck paid off befor the end of the year
taxes are all yours

 

[sdsubzero4]

Post the one you used for others...

Its been a long time, I mean almost 10 years ago. But I believe its call the Consumer Credit Counseling Service. But I'll check to see if I still have any of the paperworks.