March 10th, 2010 | 
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stay away from these guys. Most of these companies if not all will trash your credit and charge you a nice fee to do it. A fee you could use to help pay off the debt. They dont do anything you cant do yourself.
What they do is not pay your creditors for months and then try and settle your debt for less. You can do the same thing. It doesn’t take anything special to do it.
Remember that if the company that you hire to handle your debt doesn’t pay your creditor. You and you alone are still responsible to pay it. they will sue you for it not the company that you hired. and since you are not the one talking to your creditors you will never know they are ready to sue you till you get a summons.
I would never do a home equity loan. You’ll owe more money on your house. Something happens and you cant make the payments. Goodbye house.
Posted in debt consolidating
Yourself because that service is free. Negotiating lower rates is easy. But debt consolidators have an advantage because they’re dealing with bulk. The money you will be pay to consolidation companies can go toward the debt instead of a service.
References :
http://www.creditmaintainance.info
Honestly, Primerica they are the easiest and have the best rates and you get to choose what debt consolidation method work best for you. If you want more info just E-mail me
References :
If you own a home, it is best to do a home equity line of credit. You will have lower interest rates and the interest is tax deductible just like your regular mortgage. The key to doing a home equity line of credit is to cut up the cards you pay off. If you don’t, you will be tempted to use them again and you will end up with twice the debt.
If you do not own a home, you should look for a personal loan usually with the bank you have a relationship with because you already have a history with them and may offer you a lower rate based on other accounts you have with them.
If you are looking for the best rate, try http://www.bankrate.com.
If one of your credit cards is offering a promotional rate to transfer balances, that is another way to go if you have enough room on the card to do so but be careful of transaction fees for doing the transfer and making your payment on time. Most of these promotions are terminated with even one late payment and it can be tough to get it back. Sometimes the company will waive the transaction fee if you ask but not always. The worst they can do is say no though right?
The biggest key to consolidation, and I can not say this enough, is to be cutting up those cards that you are paying off. Too often I see people pay off all of their debt and then rack it up again and end up doubly worse off than they were before….Good Luck!!
References :
http://www.bankrate.com
stay away from these guys. Most of these companies if not all will trash your credit and charge you a nice fee to do it. A fee you could use to help pay off the debt. They dont do anything you cant do yourself.
What they do is not pay your creditors for months and then try and settle your debt for less. You can do the same thing. It doesn’t take anything special to do it.
Remember that if the company that you hire to handle your debt doesn’t pay your creditor. You and you alone are still responsible to pay it. they will sue you for it not the company that you hired. and since you are not the one talking to your creditors you will never know they are ready to sue you till you get a summons.
I would never do a home equity loan. You’ll owe more money on your house. Something happens and you cant make the payments. Goodbye house.
References :
been there done that