Consolidate Debt Consolidate Credit Card Debt

If I do not have a perfect credit score and I am past due in some credit cards what is the best company to consolidate debt with so I can make one payment?

hi, these links sometimes do seem to help people in trouble, hope there's something in there that helps you out!
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck.

2006-10-29 10:20:17 by ben

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

Obviously, I would like a low(er) interest rate. I just have 3 high interest credit cards, and I would like to consolidate so I can just make one payment per month.

Please do not consolidate or use a debt reduction company . 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. Student loans are the only debt that can garnish your wages for non payment without taking you to court first. Just list them out on a piece of paper or a spreadsheet and follow the plan. If you work the plan, the plan will work for you.

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.

2009-10-26 17:26:30 by Westy13

Price: $4.95 $4.95

Just had a major surgery and racked up some major credit card debt while being out of work. Just looking to see where I could start now that I am going back to work.

If you are able, take out a home equity loan. Pay off the credit card bills with the proceeds. Then pay off the home equity loan as quickly as possible. This is a win-win situation. You get the credit card bills paid off, plus the interest on the home equity loan is a tax deduction.

Or, you could line up the credit card bills by 1)interest rate, 2)highest amount owed to lowest amount owed, or 3)lowest amount owed to highest amount owed. Whatever way you line them up, start paying them off.
I preferred the lowest amount owed to the highest amount owed. I paid the most money to the lowest balance, then paid the remaining bills just above the minimum required. As the lowest bill was paid off, I then applied that same amount plus the minimum to the next highest bill. As that bill was paid off, I then applied that amount plus the minimum to the next bill, etc.
Now Susie Orman would disagree with this method, but I found great satisfaction in seeing the bills disappear more quickly than if I had paid off the highest interest rate bill (regardless of balance) or the highest balance bill first. Plus, I think when you have big bills hanging over your head, you need to see progress as quickly as possible. It really gives you a boost to see those bills drop off the face of the earth.

Good luck!

2007-05-05 12:40:50 by metro7

Price: $16.99

I owe about $12,000 in credit card debt and I wanted to make that my year's goal to pay it off, but a lot of the websites I find require that you own a home, or charge a huge interest for someone to "negotiate" with your creditors to bring down interest. Does anyone know of a good resource where I can just consolidate the debt and make one reasonable payment?

You can go to a bank for a signature loan. Enough to pay one or two cards. By taking out the loan you may pay 12% interest; and retire a credit card at 23% interest. Make the payoff of your loan over 3 years and place the extra monthly cash against another card, the highest interest payment.

OR Pay the minimum on all your credit cards and the balance into savings. Look for a house, when you find a place you can afford to buy YOUR RENT MONEY WILL WORK FOR YOU. The purpose is credit control not the "castle of your dreams".

2007-01-23 12:33:50 by RunsWithKnife

Consolidate debt? Too many credit cards? How can I eliminate debt with out it hurting my credit/fico score?

Do the consolidators companies hurt your credit?

Debt consolidation will hurt your credit. It is placed in your report when you enter a program - which indicates that you needed (or thought you needed) help.

If your not behind - just put yourself on a program and use the "debt snowball" to get out. Give yourself a timeline that gets things paid off as quickly as you can.

Just make a spread sheet with all of your balances. Make minimum payments on all but one card. Work to get that one paid off ASAP. When its paid off, work on the next one. Start with either the highest interest rate card, or the lowest balance card.

If you get offers for 0% on balance transfers, etc., transfer the balance. BUT, make sure you destroy the old card so your not tempted to use it. In fact, its a pretty good idea to just destroy the new card when you get it. You don't want to end up in the same problem. One of the keys to getting out of debt is to not create more debt. Kind of makes sense, but many people overlook this step.

Good luck.

http://www.no-debt.net

2008-04-21 12:27:36 by Don't you get it??