Credit Card Debt Consolidation Help

I currently have about $4,000 worth of credit card debt..not a huge amount, but a burden on the brain nonetheless. I make about $1,100 a month (yes..I'm in college) and was wondering what a fast way to get my cards paid down would be.

Do debt consolidation loans hurt your credit? Right now they don't sound like a good idea.

Anybody have any strategies they use to get their cards paid down?

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They might or they might not have you on. It depends on many factors and how big the debt is.

2009-12-15 22:21:14 by Captainpoopypants

Visit: www.creditcardhelp.net You can get out of accruing debt by applying for a credit card consolidation loan and trade in your several high ...

A firm that you ve been satisfied with and helped you to eliminate your debt with a competitive rate (i,m florida , miami area)

A bank.

2006-11-08 11:28:13 by patosh

Price: $1.99

I need help with paying off my credit card debts. There are so many debt reduction /consolidation agencies that I don't know which one is good/authentic and will give the best rate (discount). For those who had gone through this experience, please advise. Thanks.

I wouldn't use any of them they are rip off artists. They take your money and do nothing, been there done that. Go to Consumer Counseling, in every city or county, it is free, non profit and they don't charge but they will contact all the places you owe money to and get you with lower payments and great ways of getting out of debt !! They are well known by all companies and acknowledge Consumer Credit Counseling as serious and good to work with .

2009-05-03 04:46:52 by hayati k

Price: $9.99

I have about $16,000 of credit card debt on four different cards with APRs ranging from about 11 to 14%. I am not working now but have a job overseas waiting for me starting some time in March. Could one of these credit card debt consolidation companies be useful for me? I've seen the advertisements and their claims that monthly payments can be reduced, but would this raise the overall amount I will pay? How could one of these companies be of use to me and how could I go about finding a good one? Any recommendations for a particular company? Thanks in advance.

These companies work by taking your payments, not paying the card issuer, watching your credit get trashed and then offering to settle at a discount. You will not get credit again for a long time and if future employers run a credit check on you, you may well be refused a new job. I would just contact the issuers and see if you can get the interest rates reduced. Then, after setting aside enough for the minimum payments on all the cards, I would pay down the card with the highest balance first, until it was fully paid off. And then I would move on to the next highest card.

If you want help, then the following company seems to be recommended by "experts":
National Foundation for Credit Counseling
(800) 388-2227
www.nfcc.org
Also known as Consumer Credit Counseling Service (CCCS)

Good luck.

2009-01-29 20:04:40 by davester

We went to apply at a credit union and the first time the lady said that we was approved of the amount that we asked for without collateral and that the next day we could fill out the forms and get our loan. The next day we went, it was a totally different woman and story. She told use that we was not approved at all for the amount of the loan that we have asked for but that they colud offer us another amount in which was not enough to pay off one of the four credit cards that we have. It's very, very fraustrating because we pay all our bills on time and we do make the mininmum payments on the credit cards which ranges from $50-$100 but that's not enough for them. We just want to pay off the credit cards and to build our credit back up again. What can we do? We need some help!!!
We don't own or rent a home and we have a personal loan (that we pay them on time) already with the credit union that we went to to apply for debt consolidation loan.

1. You can try again in a few months after making higher than just minimum payments. Once you pay down some debt, your score may be high enough to qualify.

2. You can make higher than minimum payments for several months, and then contact your credit card companies to request a lower rate. That can help you pay them off even faster, and it may lower your payment slightly if you need a break.

3. You can use the equity in your home to get a home equity loan. This can give you a much lower rate that may also decrease your income tax burden (ask your tax adviser). It does mean that you are securing what was once an unsecured debt with your greatest asset. If you are not a homeowner with equity, then this is not an option.

2007-02-07 07:17:18 by NoNo