Debt consolidation services?

[kazson]

Anyone used one and it worked for them?? im just asking because i heard a ton of them were scams

my credit card bills arent getting any smaller with my little 50 dollar payments every month lol

 

[Greg S]

Don't bother all they do is stuff you can do for yourself, like call up the credit card compnay and ask for a lower rate then pay the bill for you and you pay them, plus a service fee. If your credit is still in good standing you can call the credit card company and ask for a lower interest rate. If they won't give you one then tell them you are going to change companies and move your money to someone else's bank. Also if you are getting 0% introductory card offers transfer you balance to one of these for the promotional period so that you are only paying principle instead of interest.
The usual obvious stuff helps as well, don't use the credit card so that what ever you pay makes it go down, over pay each month so that it goes down faster. Make lunch instead of going out and buying it every day and put that money aside to pay down the card.

 

[evilmonkeyMSP]

not true in all aspects... I worked for one. The CC is more willing to talk to a CCCS company & work through them to lower rates & payments. Depending on the company you go through (reputable or not) will determine if you get screwed or not. If you want to check one out go to www.nfdm.org. I worked for them for 2 years & they are there to help the client & abide by all laws set against debt management Co.s

also if you have any ?s I can answer them as I am a Certified Consumer Credit Counselor.

Don't bother all they do is stuff you can do for yourself, like call up the credit card compnay and ask for a lower rate then pay the bill for you and you pay them, plus a service fee. If your credit is still in good standing you can call the credit card company and ask for a lower interest rate. If they won't give you one then tell them you are going to change companies and move your money to someone else's bank. Also if you are getting 0% introductory card offers transfer you balance to one of these for the promotional period so that you are only paying principle instead of interest.
The usual obvious stuff helps as well, don't use the credit card so that what ever you pay makes it go down, over pay each month so that it goes down faster. Make lunch instead of going out and buying it every day and put that money aside to pay down the card.

 

[+ friction]

I used Credit Counselors of America...the cards quit calling me, and my interest rates went down. I was very immature at the time, so the simplicity of one payment really helped out as well.

Eventually I paid off my car and used it to take out a lump sum loan, thus paying off my other debt. I say give it a whirl.

 

[Killer]

say goodbye to your good credit.

 

[MP3intheSTL]

say goodbye to your good credit.

That's not true!
It's better to make an effort to pay your credit cards off with payments on time than making late payments each month.
Credit card companies would much rather see the money you owe them than filing Bankrupcy on your credit cards! (Then they don't receive any money.)
I say get some quotes from a couple debt consolidation companies.
sit down and see how much you are paying each month now and see it will really help you out.

 

[+ friction]

I think he probably meant to either hide the credit card(s) or cut them up...simply stop using them unless there is an emergency.

Easier said than done for many of us, though.

 

[evilmonkeyMSP]

werd....we are the nation of spending what we dont have!!!

 

[Roywhitep5]

im 21 and still dont have one. luckily i financed my car so that should do some good