Nov 7
is it better to pay off your credit cards with a debt consolidation or just pay it off yourself?
Posted on Saturday, November 7, 2009 in Personal Finance
tinkerbell_730 asked:
especially if you dont’ have the money to pay off the monthly balance? i have $8,000 worth of credit card debt and not sure if it was a good idea to get a debt consolidation loan to pay 3 of ‘em.
Crystal
especially if you dont’ have the money to pay off the monthly balance? i have $8,000 worth of credit card debt and not sure if it was a good idea to get a debt consolidation loan to pay 3 of ‘em.
Crystal
Nov 7
Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?
Posted on Saturday, November 7, 2009 in Credit
Heart asked:
When you consolidate debt, it shows all old debts as being paid, etc, but the one new debt ratio, which is the amount being owed to the consolidation company will be huge. QUESTION: Does It lower the credit score to have a huge debt ratio like this?
OTHER QUESTION: and you also want to have say, 3 credit cards, (3 of them is the number you want to have a good credit profile, right), then the debt consolidation companies close your credit cards or do they not? How does it work
Chad
When you consolidate debt, it shows all old debts as being paid, etc, but the one new debt ratio, which is the amount being owed to the consolidation company will be huge. QUESTION: Does It lower the credit score to have a huge debt ratio like this?
OTHER QUESTION: and you also want to have say, 3 credit cards, (3 of them is the number you want to have a good credit profile, right), then the debt consolidation companies close your credit cards or do they not? How does it work
Chad
Aug 19
Bank loan or debt consolidation program for credit card payoff?
Posted on Wednesday, August 19, 2009 in Credit
honhill asked:
Due to a family tragedy, my husband and I are currently in $26,000 of credit card debt. All of the payments are current and the cards are paid on time with the accounts still open (we are not still charging, though). We are looking to seriously pay this down before the interest eats us alive. My husband wants to take out a bank loan and pay the cards off that way, but I am wondering about the debt consolidation programs you hear about (I know some of those are scams and some are real). Any advice or experience?
Veronica
Due to a family tragedy, my husband and I are currently in $26,000 of credit card debt. All of the payments are current and the cards are paid on time with the accounts still open (we are not still charging, though). We are looking to seriously pay this down before the interest eats us alive. My husband wants to take out a bank loan and pay the cards off that way, but I am wondering about the debt consolidation programs you hear about (I know some of those are scams and some are real). Any advice or experience?
Veronica
May 10
What Do I need to Qualify for Debt Consolidation Loan?
Posted on Sunday, May 10, 2009 in Personal Finance
Ivan S asked:
Not credit counseling, but debt consolidation loan. Can’t find any good info on the web, so your educated opinion would be helpful. What are credit requirements, home equity requirement, debt service ratio and other factors?
Not credit counseling, but debt consolidation loan. Can’t find any good info on the web, so your educated opinion would be helpful. What are credit requirements, home equity requirement, debt service ratio and other factors?
If you know a good resource that would be very helpful as well!!
Thanks.
Jane
Aug 29
Is it recommended to use debt consolidation for credit card debt?
Posted on Friday, August 29, 2008 in Credit
m_snider9430 asked:
I am approximately $25k in debt, should I use a debt consolidation agency?
Lawrence
I am approximately $25k in debt, should I use a debt consolidation agency?
Lawrence
Aug 6
What exactly happens to your credit if you do debt consolidation?
Posted on Wednesday, August 6, 2008 in Credit
monkeyundermypillow asked:
I have $7,000 in debt and I have heard about debt consolidation. Does this negatively affect your credit rating? Do you get to choose how much you pay monthly or is there a set amount they make you pay? I live in Canada, if that matters.
Edwin
I have $7,000 in debt and I have heard about debt consolidation. Does this negatively affect your credit rating? Do you get to choose how much you pay monthly or is there a set amount they make you pay? I live in Canada, if that matters.
Edwin
Jul 25
How does debt consolidation work?
Posted on Friday, July 25, 2008 in Credit
KaTeLyN asked:
I am looking online to see if I can find a place that can consolidate my debt. All I am finding are places for credit card debt. Are there any places that just do general debt consolidation? I have only have two credit cards and the majority of my debt is medical bills, but it doesn’t seem like they take care of the medical bills according to all these websites. Any help is appreciated!!
Ron
I am looking online to see if I can find a place that can consolidate my debt. All I am finding are places for credit card debt. Are there any places that just do general debt consolidation? I have only have two credit cards and the majority of my debt is medical bills, but it doesn’t seem like they take care of the medical bills according to all these websites. Any help is appreciated!!
Ron
Feb 26
How can I get debt consolidation with hospital bills and non credit card debt?
Posted on Tuesday, February 26, 2008 in Credit
A B asked:
I have a bunch of hospital bills that really cost me in credit scores. I really want to try to consolidate it but I can’t find anyone who does debt consolidation without credit card debt. Any suggestions?
Melissa
I have a bunch of hospital bills that really cost me in credit scores. I really want to try to consolidate it but I can’t find anyone who does debt consolidation without credit card debt. Any suggestions?
Melissa