ANSWERS: 7
  • http://www.nfcc.org/ will have more answers for you.
  • the bad thing about debt consolidation is it pays off all your credit cards so you can start charging on them again. it doesnt take long and you are right back where you were before, only now your balance due is double what it was before. it would be better to make all your payments on time and concentrate on paying one off at a time. get a part time job and be serious about saving money and not eating out or getting massages and taking cash out for non essentials.
  • Debt consolidation loans consolidates multiple lines into one new loan or debt consolidation program - it typically involves a debt consolidation loan, but could also be referred to as a credit counseling program or other forms of debt resolution that do not involve a new loan. It is important that you know what your options are and what your goals are before choosing a debt consolidation program or company. When you consolidate your debt, the FICO recalculates your lending risk for the current period. It may adversely affect your credit rating for a short period. Anyway your score should also go up in the long run because most debt management programs teach you fiscal tips that will help you develop healthy money management habits. You will hopefully learn to consistently make on-time payments as well as keep your credit balances down to a manageable level. All of this will push your credit score upward over time. Source : http://www.bills.com/debt-consolidation/
  • It gets all the bad credit over with up front.
  • I can help you, I work for a debt settlement company, send me an email at mbardram@rapiddebtsettlement and we can discuss your situation and I can answer any questions you have. No gimmicks, just trying to help.
  • Debt Consolidation is the technique of gathering several credit card debt, loans and other liabilities and combining them into one. A debt consolidator thus consolidates all of his debt by taking out a single loan to pay off the debt as a whole. Our Debt consolidation allows you to combine all of your loans into one loan, usually at a lower negotiated interest rate...You can see the good debt consolidators like http://www.debtconsolidation123.net/
  • Don't be so sure it does. The idea is that all, many, or most loans are wraped into one package with one loan to cover all. Some loans may actually be reduced in the total amount. Be aware that such a service can be shown on your credit report and future loan may be at a higher rate because you used such a service. Also just because most loans are now at one place does not mean that you do not have to pay them and there are charges made to secure such a service. Much of what they do you can do yourself - proceed with care.

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