does debt consolidation damage your credit?
Jul 18, 2009 in
Credit
me
im thinking about doing it im not that far in debt about 5,000 but i just dont have the funds to pay my credit card bills anymore. what are some good debt consolidation places & do they charge up front fee’s? how much would a monthly payment 4 my debt be?
im thinking about doing it im not that far in debt about 5,000 but i just dont have the funds to pay my credit card bills anymore. what are some good debt consolidation places & do they charge up front fee’s? how much would a monthly payment 4 my debt be?
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3 comments
Aaron on July 20, 2009 at 4:46 pm
Larie. I own a debt credit consultation business and we would really need to hammer out some details to figure out what your payments would be. it matters what your credit score is as of this moment. what type of loan you are getting and so on and so forth.
If you would like some free advice and me to look into your situation a little deeper email me. I am always in the mood to help people who ask
Im Aaron
Ankita on July 21, 2009 at 6:49 am
If you really need some help, I will suggest you a site. Where you can get your Consultation free of Charge! No credit check required to get started with your free debt consultation.
Anjell on July 21, 2009 at 12:52 pm
1. Order your credit reports from the 3 bureaus
If you’re ordering for the first time, get your score (for a fee) from Equifax as their scoring matters most.
2. Make copies of your report and put the originals in a binder. On the photocopied reports use a highlighter and check for any incorrect, outdate, false, etc…info
3. Download a dispute letter(s) from the credit bureaus website and list anything that is wrong. Mail them to their office(s). They have 30 days to reply.
4. If they will not remove something that is not yours or too old (> 7 years) as them for a debt validation. This may take an additional 30 days.
5. Once the ‘baddies’ come off, take care not to let any of your other accounts fall into that predicament.
6. If you haven’t already make sure your existing accounts are current and paid on time ALWAYS.
7. Get a secured credit card with or for like $500-1000 or more if you can and use it sparingly. Charge like $50 on the card each month and pay it in FULL and on TIME. Make sure you do this for a minimum of 6 months so that you estabish a positive repayment history.
8. Problem with just letting them ‘fall off’ is that they may never. You may get sued before that…that’s where you suddenly get a summons to appear in court and a judgment for collection against you.
For the 2 collection items…pay them but get a ‘pay for delete’ from the collectin agency in WRITING…they’ll delete it after you pay and it will help your credit score