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val21 · May 24, 2007, 11:13 PM

Hi I have a problem. Over the past years I have used my credit cards to and know I have some bedt and my payments are getting too much. What do you think about debt consolidation like debt free or any of the other stating that they will help you with your debt. And if they do work can you tell me of some that I could try. Thank you very much.

ballengerb1 · May 25, 2007, 08:48 AM

Most debt consolidation outfits charge a fee and you will still owe the same amount, maybe at a lower rate than your credit cards. If you could get a Home Equity Loan tied to prime your interest could be as low as 7!/8 percent.

FYNALEFREE · May 25, 2007, 09:09 AM

Originally Posted by val21

Hi I have a problem. Over the past years I have used my credit cards to and know I have some bedt and my payments are getting to much. What do you think about debt consolidation like debt free or any of the other stating that they will help you with your debt. And if they do work can you tell me of some that I could try. Thank you very much.

What I found is consolidation only stretches out the time that you pay and lowers your payments but you still payback the whole amount. I paid 3,495.00 and erased 40,000 in credit card debt through Integrity Debt Options - Home anthony luttrell helped me and I was not sued and my credit is fine not perfect but improving. If you have less debt like 18,000 or under you pay 2,495.00 and you can erase your debt legally. You can do settlement in 36 months or less your credit report reads paid as agreed I did this as well 2 years ago but I got maried and hubby has tremendous debt that I had to get rid of so I would not go crazy.

val21 · May 25, 2007, 11:24 AM

Thanks, I will look at ingegrity debt options. I did not want to do a debt consolidation but now I don't have very much of an option. I know I owe money and want to pay it and keep my credit. Thanks a lot.

FYNALEFREE · May 25, 2007, 11:49 AM

This is not consolidation this is for legal dispute or settlement.

val21 · May 25, 2007, 01:10 PM

Oh OK.

wynelle · May 25, 2007, 07:11 PM

Seriously? I would heck out someone like the Dave Ramsey Total Money Make-Over.

He has a series of steps that YOU DO--

First Make a Budget so you know where your money is going every month.

Second, stop anything and everything that is not a critical necessity to survive--so no more cable TV, no more magazine subscriptions, no more dinners or lunches out, use cheaper cuts of meat, etc.

Third, sell off everything you don't need to survive. Try eBay, garage sales, etc.

Fourth- take on a second job, or a third, and work it until you have gotten the debt under control

Cut up all the credit cards. NEVER use them again. Take the extra money you made selling stuff, plus the money you save by cancelling stuff and not spending on unneeded things, and apply it all to the largest debt. When that debt is paid off, then snowball those payments to the second highest debt.
'
'You can contact the credit card companies yourself and offer a settlement amount.

But you have to be willing to make serious changes in your lifestyle to prevent the debt from building up again.

FYNALEFREE · May 26, 2007, 10:47 AM

While this answer is a good one it takes time and discipline and I needed immediate relief from my situation so what did will not be right for everyone. Naesdebtrelief.com is for someone as disciplined without a lot of time that wants immediate relief then these other ideas will work really well.