Posted: 5/31/2013 7:33:48 PM EDT
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I have about $10k in credit card debts. I had a high paying job but got laid off and had to use the credit cards to pay off a couple bills and gun lay aways before I lost them. I've been trying to find work ever since but no ones hiring.
Has anyone tried consolidated debt creditors? Do they ruin your credit more than a credit card would? |
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I personally know 2 people that were over 50k in debt, and used this company successfully...
Consolidated Credit Counseling Services They require you to give up your current credit cards, and they negotiate a substantially lower rate to pay your cards back, and put you on a monthly payment plan where by you make ONE low timely payment to them, and they disburse your individual payments to the various banks/cards....saving you the stress of having to make multiple payments. It works, if you work it. |
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Quoted:
I personally know 2 people that were over 50k in debt, and used this company successfully... Consolidated Credit Counseling Services They require you to give up your current credit cards, and they negotiate a substantially lower rate to pay your cards back, and put you on a monthly payment plan where by you make ONE low timely payment to them, and they disburse your individual payments to the various banks/cards....saving you the stress of having to make multiple payments. It works, if you work it. Affkuate offer, nice. Get paid about $50 if I fill it out? 
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Quoted:
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I personally know 2 people that were over 50k in debt, and used this company successfully... Consolidated Credit Counseling Services They require you to give up your current credit cards, and they negotiate a substantially lower rate to pay your cards back, and put you on a monthly payment plan where by you make ONE low timely payment to them, and they disburse your individual payments to the various banks/cards....saving you the stress of having to make multiple payments. It works, if you work it. Affkuate offer, nice. Get paid about $50 if I fill it out? Huh? The thing that hurts your credit rating the most is late payments. If you go through the program, you're required to make your 1 monthly payment to them on a set schedule so they can disburse all your bank card payments on time. This ends up leaving you with an improved credit rating due to months of on time payments. |
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+1 You could also make yourself available to your neighbors for odd jobs etc. I've never gone more than 2 months without work. Sometimes had to bite the bullet and take 2-shit jobs until I found something better. Best of luck with your TEMPORARY situation. Don't quit. ETA - I used one of those agencies about 20 years ago, only to realize that I could've handled the negotiating on my own, and saved the small fee to the agency. |
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we used a company called Greenpath. Not sure if they are just local to me or a national deal . We were in a similar sit as the OP and were able to pay off just over 20k in 3 years, credit scores stay the same (high 600 for us both) and then went up. The one thing that our account person said that was odd about us was that we had come in BEFORE we had ever made a late payment etc. We were paying our stuff on time but realized that we were in trouble as we were depleting our savings.
They got us like 1 percent interest on our cards, lump them into one payment and dispurse the money to the various banks on time so there are no late fees etc. Went from having minimun payments of over 800 a money on our own to paying Greenpath just under 600 a month so we "saved" money in our budget. They do it all as electronic deductions from ur checking account so once everything is set up there is nothing to worry about doing. IIRC at the time they chaged $50 a month for the service. Best part is that we are credit card free for the past 3 years and bank money each month. Just checked our credit scores last month and we are both over mid 700's. 
Good thing about greenpath is that you had to come up with a budget that worked, show that you were working it and they give you all kinds of support/counselling (if you want) to go at the root problem. heres a link to them.http://www.greenpath.com/ Hope this helps J- |
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I usualy have not gone this long without work and I've been doing odd jobs for a lawyer but its not enough to pay the bills. I have a Class-b CDL and I am thinking about getting a class-a and being a OTR truck driver.
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+1 You could also make yourself available to your neighbors for odd jobs etc. I've never gone more than 2 months without work. Sometimes had to bite the bullet and take 2-shit jobs until I found something better. Best of luck with your TEMPORARY situation. Don't quit. ETA - I used one of those agencies about 20 years ago, only to realize that I could've handled the negotiating on my own, and saved the small fee to the agency. |