Can anyone refer me to a good debt consolidation center?
May 28, 2009 in
Personal Finance
rain20four7
I have all sorts of debt. 3 closed checking accounts and one closed savings account, a closed credit card account, and four bounced checks. Does anyone know of a solid debt consolidation firm that can help me? Most won’t handle overdrawn bank accounts, and I can’t find one for the life of me. The total debt is somewhere around $7,000. The sad thing is that I am a college student who got in trouble with gambling, and now I’m trying to come clean. Please advise! Thanks in advance!
I have all sorts of debt. 3 closed checking accounts and one closed savings account, a closed credit card account, and four bounced checks. Does anyone know of a solid debt consolidation firm that can help me? Most won’t handle overdrawn bank accounts, and I can’t find one for the life of me. The total debt is somewhere around $7,000. The sad thing is that I am a college student who got in trouble with gambling, and now I’m trying to come clean. Please advise! Thanks in advance!
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7 comments
Heather W on May 31, 2009 at 2:59 am
To be honest with you, you can do it yourself and get better results. Debt consolidation centers provide a service that simply doesn’t give creditors the option to call you. They will cease and desist all phone calls and correspondence with you. YOu are the best person to handle your bills. You simply sit down figure out what you owe and what you can afford to pay each month you tell each company what you can afford to pay them and then you stick to that arrangement. If you don’t the creditor will not work with you. Most creditors would rather have something verses nothing at all. Contact them and try it before you seek counseling.
Consolidation is when you get a loan that covers all of your debt and you make one payment. Usually the best way to do this is by refinancing your home.
Lexi on May 31, 2009 at 9:40 pm
yup! been there done that! Try Genus!!! I was sooooo over my head when I first went to them. I had school loans, a computer loan, medical bills piling up sky high..they take anything over 200 bucks…and you can add any bill that you can’t vouch for..only u CAN’T use a house or auto notes…and as for how much they ask for, for helping you? they ask for donations. I agreed to pay them $10. buck a month for them helping me out. You have to give all the info of the bills…you have to cancel all credit cards you plan on adding to this program…They will send out letters to each one telling them what you can afford and what you can’t, they have to agree with this plan (and I didn’t have NO problems getting them to agree to Genus) and I wound up paying only 145 bucks a month total for over 10,000 bucks I owed altogether…they cancel all late fees, all finance fees and any other hidden fees! took over two years to get this down, but it was so worth it! good luck!
mia2kl2002 on June 1, 2009 at 9:03 pm
Best thing to do is find your local Consumer Credit Counseling service – it is government funded. They give you loads of information about debt, and they will put you on a debt repayment plan that will lower your interest, eliminate late charges, and get your bills paid off. You pay them once a month to take care of the bills. They get a small monthly fee, but you pay less than you did before. You have to cancel all your credit cards, and what a relief it is.
DON’T CONSOLIDATE. All that does is create another bill, because you will still be free to use those credit cards. It won’t save you much money on interest, either. Bad idea.
M. T on June 2, 2009 at 7:58 pm
You maybe on your own for this one. I’ve found an interesting site for getting out of debt and investing. it has helped me investwithtovar.coom One thing they suggest is to immediately start a savings account for emergency funds. I was there once also. good luck.
Hoa N on June 5, 2009 at 2:21 am
You can do it yourself, only you can rescur you from anything else if you are truly want to do it. Your credit already ruined,so do not worry the debt. Focus on your study, do not paying attention the debt right now. They know you are a student, their chance of getting you is slim to none.Let them turn over to collection agency and maybe they may settle for less and ask your parent to help you out
fisrt, do not gambling no more
second, focus on your study
third, let them settle your debt with less,ask your folks to chip in
do not use credit card for awhile
In the mean time, learn how to invest the right way
It is the lsson learned, when you got out of this hole,do notgoing back in, it is hard to get out of this mess
Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.
… >… university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:
fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy
technical analysis==(chart+indicator)>> when to buy
Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live
At the age of 32. my 401k is amassed 71,000.00 and 30000.00 in taxble account. by follow simple rule
David D on June 5, 2009 at 5:12 pm
There is some useful advice here.
jititi j on June 7, 2009 at 7:24 am
Ways to Consolidate Debt