Debt And Credit Counseling
The Debt-Free Millionaire: Winning Strategies to Creating Great Credit and Retiring Rich
Anthony Manganiello (Hardcover) Wiley 2009-08-10
Condition: New
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ISBN13: 9780470455760
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Answers
I have approximately $2000 of credit card debt that I absolutely need to get paid down. i talked to consumer credit counseling services, a debt consolidation company, http://www.cccsstl.org/ and this is what i was told:
Basically they would cut my payments down to about $130 a month total for 3 cards by getting my interest rates lowered to between 6 and 10% approximately. I would pay it off in 2 years instead of 8 as i would now without consolidating. he said the $130 a month payment included a monthly fee of $49 directly to the credit counseling service for their help and services. Is that the normal thing when consolidating? Is that legitamet? I would only be paying $80 or so a month on the actual credit card debt and that doesn't seem like very much to me.
Anyone have any knowledge in this area? Is consolidating a smart thing to do and does it hurt your credit in any way? Is there a smarter way to do it?
LONG-sorry and thanks!
Don't touch it! Instead go to www.daveramsey.com
He is a financial giant. Great advice there. Read Financial Peace , Total Money Makeover both by Dave Ramsey.
Most debt consolidation companies do nothing better than simply ruin your fico score in order to settle your debt. If you really want to work with ...
I have approximately $2000 of credit card debt that I absolutely need to get paid down. i talked to consumer credit counseling services, a debt consolidation company, http://www.cccsstl.org/ and this is what i was told:
Basically they would cut my payments down to about $130 a month total for 3 cards by getting my interest rates lowered to between 6 and 10% approximately. I would pay it off in 2 years instead of 8 as i would now without consolidating. he said the $130 a month payment included a monthly fee of $49 directly to the credit counseling service for their help and services. Is that the normal thing when consolidating? Is that legitamet? I would only be paying $80 or so a month on the actual credit card debt and that doesn't seem like very much to me.
Anyone have any knowledge in this area? Is consolidating a smart thing to do and does it hurt your credit in any way? Is there a smarter way to do it?
LONG-sorry and thanks!
I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.
Price: $24.95
Hello, I am in desperate need of some advice as my situation is just getting out of hand. I used to have a credit score of almost 800 about 2 years ago. Now I dont even bother to check my score anymore. I made the mistake of getting some rental properties with ARMS. As time passed, bad tenants, rising interest rates and a recent wedding have REALLY put me upside down. I have tried and tried everything. A couple of my properties have nearly been foreclosed on. I have tried those firms that dispute credit issues but thats not helping out. The thing is, my revolving debt is really not that bad, I only have two revolving accounts, but they are maxed out. I just need to catch up on them and also straighten out my mortgages. I have thought of consumer credit counselling and wanted to know its pros and cons, any advice would be grateful. Thanks!
There is an article here about debt consolidation counseling which may help you.
I wish you luck!
I have about 3,000 in credit card debt from Citi and Discover. Both have been charged off so the damage is already done and I am 20 years old and I had to use this to pay for college and I wanted to try and make a small payment plan so I could defintley afford the payment but both collection agencies are asking for over 100 each month and I can't really afford that right now. I filled out this online application for Consumer Credit Counseling Service and they set up a plan where I pay 85 each month and out of that 15 goes to Consumer Credit Counseling Service and there also a fire deposit amount of 120$ which includes a file setup fee. Should I continue to do this or try and talk with the collection agencies about lowering the monthly payments or find another Service? I just want something that I can afford. Please help. Thank you
hello - sometimes the name Consumer Credit Counseling Service which is a non profit service can be confused with other debt payment services that are for profit - i suggest you go to www.nfcc.org/ National Foundation for Credit Counseling to see if the service that you are using is accredited. CCCS can not make a creditor do anything but they have positive relationships with many creditors that may benefit you - collection agencies are difficult to work with - it may be that the original creditor will take back the debt from the collection agency after some payments are made - maybe - maybe not - true CCCS will want you to do what is in your best interest - be sure that you are working with a true CCCS!
Does anyone know how good is Consumer Credit Counseling Service??? I have a credit card debt of 10000 so I called them and they told me, they will charge me 35 usd one time fee, after that they will settle a low interest rate and low monthly payments for me and they will charge me 7.5% of the monthly payment being sent to my debtors until everything is paid off.. Does anyone know how good is Consumer Credit Counseling Service??? any opinions out there???..I need help since my cards are already 8 months past due..
I used them several years ago and was debt free in 36-months I highly recommend them.
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New credit-card law in effect
In the last 12 months, 103 people seeking help with credit card debt and budgeting concerns have contacted the Abilene office of the nonprofit Consumer Credit Counseling.
In his law practice, local bankruptcy attorney Kevin Willhelm said he’s seen an increase recently in clients.
“In more cases than not, credit card debt plays a factor in the situation that my clients find themselves in,” said Willhelm.
A new law, the Credit Card Accountability, Responsibility and Disclosure Act of 2009, offers several provisions designed to protect consumers.
Among changes that took effect Monday, young people under 21 seeking a credit card now must show an ability to repay balances or have a co-signer before obtaining a card.
Consumer Credit Counseling Services Warns Homeowners Who Walk Away ...
ATLANTA GA, February 22, 2010 — Homeowners who are considering “walking away” from their home to avoid making their mortgage payment need to know that their mortgage company may try to file a lawsuit to recover the amount owed on the home.
In addition, homeowners who sell their home for less than the amount they owe – a process called a “ short sale ” — may be sued for the unpaid balance, even after the sale of the home. Finally, homeowners with unpaid home equity loans or second mortgages may also face legal action if they “walk away” from an unpaid mortgage or conclude a short sale.
“My advice is that no homeowner should ever simply “walk away” or “turn in the keys” without receiving a document that absolves them of all liability,” said Frank Alexander, professor of law at Emory University School of Law and a member of the board of directors of Consumer Credit Counseling Service (CCCS) of Greater Atlanta.
...News
New credit-card law in effectAbilene Reporter-News - Feb 23, 2010
Washington Post 103 people seeking help with credit card debt and budgeting concerns have contacted the Abilene office of the nonprofit Consumer Credit Counseling. New credit card rules to go into effectKey to new credit card laws: understand bills, expert saysConsumers React to Changing Credit Card Laws - -all 2,029 news articles »
Savannah Tribune - Feb 23, 2010
Its mission is to provide professional and confidential counseling, debt management, housing counseling and consumer credit education to the community.WCAX - Feb 23, 2010
"My typical client has somewhere in the $25000 in credit card debt range," he said. Fife, a counselor with the Consumer Credit Counseling Service of NewDallas Morning News - Feb 20, 2010
The Guardian"If you had no idea of how damaging minimum-payment syndrome is, you get it now," said Todd Mark, vice president of education at Consumer Credit Counseling Consumers Will See Credit Card Reform Starting MondayCredit card changes on the wayNew credit card rules start Feb. 22 - -all 762 news articles »
BigNews.biz (press release) - Feb 19, 2010
Credit counseling is one of the processes you need to go through when you need to clear off your debts. However, how do you define the best consumer credit Senior citizen debtHow to Build Good CreditCredit Card Debt Relief Options Explained by TotalDebtRelief.netall 79 news articles »
BigNews.biz (press release) - Feb 23, 2010
Live-PR.com (press release)At CC2, our team of professional experts has a custom built program that could enable you to avail bad credit debt consolidation counseling services. Credit Card Debt Consolidation Loans Consolidate Credit Cards To Get Rid Of Debtsall 66 news articles »
Atlanta Journal Constitution (blog) - Feb 22, 2010
That's the word today from Consumer Credit Counseling Service of Greater Atlanta, which is warning homeowners they may be sued by the mortgage company if Homeowners Need to Consider Possible Legal Issues Before Deciding to 'Walk all 9 news articles »