Debt Consolidation Sources

Posts Tagged ‘credit cards’

I had previously anticipated cost of living adjustments (COSA’s) for both the VA disability (I’m a disabled veteran) and Social Security disability. Thanks to the economy, my projections have been laid waste as the government has friezed those adjustments the last three years. Where I once projected having an extra 0 a month, I’m now finding myself short a month and I’ve been borrowing against my credit cards to make all my debt payments. Keep in mind that non-credit card creditors don’t care that I haven’t been getting the COSA’s and these bills (utilities, groceries, security, insurance, etc) keep increasing, not just annually, but some have increased monthly.
I have three credit cards: two of them charge around 21% interest and the third around 30%. I’ve tried to get the interest reduced and have succeeded in some cases, but after a period of time the rates go right back to what they were before. I’ve tried debt consolidation with my commercial banks (the bank I hold my mortgage with and the bank my checking account is with), but have been denied help by both.

So, I’m hurting.
My question is … Is there a debt management program that you can recommend that would help me out? One that won’t hurt my credit?

Or am I better off declaring bankruptcy?
I really want to pay all my bills and don’t want to leave my creditors holding the bag, so bankruptcy would be the last option if there were any other way.
If it helps, I’m a disabled vet (certified 100% thirteen years ago).

I’m wondering if getting a debt consolidation loan would be the best option for me and my husband. We just got married on May 22nd, both 22 and last month bought our first house. We also have very good credit scores; when we were applying for our home loan we both had 710+. The only thing is now we’re looking at all of our other bills that we have; it’s not TOO much, probably under 8k, but we’re really trying to get them paid off. Most of them have deferred interest right now which is good, but the expiration dates are coming up within the next 6 -12 months and we know we won’t be able to have them paid off by then and the interest rates on some of these things are very high.

Would getting a loan with a lower interest rate to pay off our credit cards be the best route to go? Any suggestions?
Steven, what you’re saying doesn’t even make sense. We already DID buy a house and we DID have the money to make a down payment. Because of that fact, now we DON’T have enough to pay all of our other debts before the interest kicks in.

I have between ,000 and ,000 worth of debt on 3 different credit cards. All of the credit card accounts have been sold to law firms. There is no way I can afford to make 3 different payments a month on these. What are my options? Should I go with one of those non-profit organizations to consolidate my debt? I do not own a home or any other property that could be used as collateral. I’m sure my credit is already shot so I’m open for all options.

My step-mother is a disabled vet, with a massive amount of credit card debt left over from my father passing away. She’s simply doesn’t have enough income from VA disability to pay for all the debt and has been waiting for almost 2 years to get her first Social Security hearing, which still isn’t until next month.

She doesn’t want to claim bankruptcy, she simply wants to consolidate a few credit cards and a small home equity loan into a single low interest account she can make large payments on. I believe in total, she has about 20k dollars worth of debt between all the accounts and is paying just over the minimum payments about 0 a month. She’s not really making progress with the current state of things.

Most of the debt consolidation sites seem to simply be bankruptcy attorneys, which is obviously not what she’s looking for.

We are in the Texas, so any state programs, federal programs or anything the VA might offer would be great. I’m looking for a non-profit or social service that can assist her, not just an attorney out to make some money off people who are already struggling.

I have a 750 credit score but want to consolidate 4 credit cards via a non-profit debt consolidation. The creditors will be paid off 100% and timely payments will be seen on my credit. But could any of this hurt me obtaining another mortage (my existing house will be solf) in a year or two if I need to re-locate and buy another house? Please advise!