Best Credit Card Debt Consolidation

I need to sign with someone ASAP I can not pay these cards anymore. I am really in trouble. What should be my first move?

If you really can't pay your bills consider filing for bankruptcy. If you hire a company to renegotiate your credit card bills it will hurt your credit anyways and you will have to still make some payments to your creditors.

2008-01-08 07:22:24 by mama

www.debtplan.org Debt Consolidation can Help avoid filing bankruptcy Eliminate creditor harassment Lower debt payments up to 50% Provide one ...

Whats the best place for this type of loan? Banks?

I'd say the best credit card debt consolidation loans are here

http://creditcarddebt-consolidation.org/

They have a bunch of companies listed - compare rates and see who offers the best deal. Also banks are good if your credit is great and you have collateral.

2007-08-25 19:31:50 by shauna

I've become over whelmed with my credit card debt and I'm getting those phone calls because I'm missing payments and such. Anyway I'm looking for a credit card debt consolidation company that doesn't screw people over, anyone know of any from experience or just know a good one?

Try http://personal-financial-help.solutions articles.com they aren't that bad (7% for me) and definitely quick.
The Idea is to find a loan at less interests than you pay now, and fixed interests.
Credit cards can have high interests so it shouldn't be difficult to beat them, depending on your credit score.
Whoever you go with, you should always check if they belong to the American Bankers Association at http://buyersguide.aba.com or at least the https://www.bbb.org the above people do.

2009-01-27 10:32:44 by nikki

If I let my cards slip for a while I don't know how much they've hurt my credit. I need credit card debt consolidation, will they accept me if my credit cards have been beating up my credit a little in the last month or 2?

Please do not consolidate. It is not free, they will lower your payments by increasing the length of time until you are debt free, and you will take a hit on your credit score. Or they negotiate your debt down after telling you not to pay for awhile adding another hit to your credit score. There is a better way.

A. Have a garage sale and sell anything that you no longer need or want.

B.Get a temporary part time job, if you have one, get another.


Here is a plan that can help you. If you work the plan, the plan will work for you:
1. Make a budget. Make the budget a week before you get paid. A budget is not a punishment! It is a tool which will free you from ever having to worry about money again. Put everything in your budget. Especially those annual, biannual, or quarterly bills like car registration, insurance, etc. Give every dollar you are going to bring home the name of where it is going. Add an "emergency fund" category to your budget for 25 dollars and save up until you have 1000-1250 dollars. Your emergency fund will help keep you from getting into new debt because of an emergency. If you can, set up a direct transfer to a savings account for your emergency fund. That way it moves automatically and you don't even have to worry about it. You must cut your spending and live on less than you make.

2.First get current on all of you debts and make no more late payments. Stop using your credit cards immediately. Do not take on any more debt. Credit cards are like quicksand only the death is much slower. Make a list of all of your debts in order of highest interest rate to lowest interest. Use cash only for your spending from now on.

3.Pay the minimum due on all of your debts and then put your extra money towards paying off the highest interest one first. After you get that one paid off, you put the money you were paying on debt #1 (the minimum payment and the extra payment) towards debt #2. That will pay debt #2 off faster. When that is paid off, you put all three payments towards card #3 and that one will be paid off pretty quickly. As an example:

To start :
Debt #1 (highest interest): minimum payment+ extra payment
Debt #2 (middle interest): minimum payment
Debt #3(lowest interest): minimum payment

Debt #1: paid off
Debt #2: minimum payment from Debt #1+ Minimum payment from Debt #2 +extra payment
Debt #3: minimum payment

Debt #1: paid off
Debt #2: paid off
Debt #3:Minimum payment from card #1+ minimum payment from Debt #2+ minimum payment from Debt #3+ extra payment.

That way, you will get them all paid off, on time, and pay the least interest. It will also help towards rebuilding your credit since you will no longer have any late payments. This works no matter how many different debts you may have.

4. After you get all of your debts paid off, add to your emergency fund until you have 6-12 months of income saved up. Put that emergency fund money into a liquid money market fund or into a Bank of America no-risk CD so that if you need the money you can take it out without penalty.

5a. When you have your emergency fund in place, add a category for "fun" to your budget. Save for a holiday, a vacation, a big screen, or dinners out, whatever goal you want. Remember to enjoy your life.

5b. When you have your emergency fund in place, start saving for your retirement. Join the 401(k) plan at work and contribute the maximum. Your employer probably matches at least part of your contribution so why give up free money? Open a Roth IRA and contribute the maximum on a monthly basis. If you start saving for your retirement now, you will probably retire a millionaire.

5c. When you have your emergency fund in place, start saving for your next car. Only buy cars, or other things that depreciate, with cash. Save up for a nicer car. That way you get the interest instead of paying the interest.

You can do it and it isn't as hard as you think. Just follow the plan.

2009-04-27 10:42:39 by SRL

free debt analysis and custom recommendations!

http://www.cccs.org/ try this one we work with them a lot I work for credit card co

2009-07-16 15:39:10 by ain