Debt Consolidation Sources

Posts Tagged ‘credit score’

I’ve got about ,000 worth of debt between 1 credit card, a car loan and school loans (mostly school loans) and am struggling to pay the credit card. mostly, because at 15.9% and paying the minimum, it’s not going down. I’ve been told that debt consolidation is not the way to go and to check out debt management. My questions:
- If you go through a debt management company, does this impact your credit score?
- Debt Counseling Corp. claims to be free but I’m skeptical. Are there hidden fees with these places? They say they’re non-profit.
- I don’t want to pay for seminars, books, Website access etc. like Dave Ramsey’s site only to find out I’ve thrown more money away and am no closer to being debt free then I was before shelling out the cash.
- Has anyone undergone or is currently using debt management (lowered APR’s) and can recommend a reputable company? I know many aren’t legit.

This is my first step in figuring it all out – research. Any help would be great.

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!

Is it a good or bad? I worked with Creditors directly, but no use.. They never come down on the APR.. still 29.99%. I never missed on payments.. Only bad thing I did for 2 cards are I forgot to remove the automatic payment option from my old checking account in May and Jun.. With that mistake, they gone up on my APR’s and missing payments. They will review my account only after 12 months of ontime payments… ? So, I started working with various debt consolidation companies, they offered for 0 / 36 months which includes(0 for the company).. But in their terms, they cannot guarantee any.. Can we trust such of these companies? When I calculate, I am not even paying all to the credit cards…Not sure if its a good practice? What happens to the credit score and profile if continue with Debt Mgt companies? Please share if any had any past experience or any suggestions .. Thanks in advance

What can consumers do to get credit in todays world? A critical piece is knowing about your FICO® score, how it works, and how to make sure yours is the best it can be. Fair Isaac is helping consumers through a program that delivers FICO® scores free as part of online banking statements, and free information presented at www.myfico.com. Find out more in this short video from FICO™, the creators of the FICO® score that is used in most lending decisions in the US Darcy Sullivan of FICO™ interviews Mark Greene, FICO™ CEO, for this FICO Tech Talk.

What is the best company to go through for debt reduction/consolidation? I have about 6 credit cards and they are all at their max, and I am only 21!

Now before you go judging me and telling me not to spend my money on shoes, this was all for school, basic living expenses, and to help my family. Student loan companies wont loan to me because my credit score wasnt high enough and I didnt have a co-signer, and I couldnt get federal aid because the *said* my mom made too much (39k a year as a single parent of 3 kids, 2 of which are dependant, a mortgage and 2 car payments? dont think so!)

So… Who are the best non-profit debt relief groups to work with, coming from experience please?
also– does debt reduction show up negatively on your credit report, or does it just show up as a loan?