Why is it that debt consolidation agencies cause your debt to go up if you sign with them?
Question:
Answer:
To boost your credit score:
The first thing you will need to do is call the three major credit reporting agencies and request a free copy of your credit report.
www.equifax.com
www.experian.com
www.transunion.com
Then once you get those in the mail (7-10 days) there will be a dispute form attached to the reports. Fill those out for every negative account on your report regardless. Fax, mail go online whatever it takes to get those submitted as quickly as possible. Then those companies must answer your dispute within 30 days or it is removed from your credit report completely. So that will eliminate some things, hopefully.
Then make sure you pay all your revolving accounts to below 50% of your credit limits.
Make sure that you make all your payments no more than 20 days from the date it is due.
Good Luck!
Here's the deal. They are classified as non profit because they don't charge a fee. However they make their money by requiring you donate X amount of dollars a month to support their business.
They're actually a great idea. They have the ability to either reduce your finance charges if not eliminate them so that you are actually paying down your debt. In addition to that they have the ability to lower you monthly payments. Overall you're benefiting from using them even though it may cost $20 a month.
I think they're a good idea if you need some negotiating, like to get fees removed, lower interest rates, etc. If you don't need the negotiating but need help seeing how to manage and pay off your debt yourself, see this debt elimination calculator...
http://debt.bizcalcs.com/calculator.asp?...
One of the problems with lowering you monthly payments is that it usually takes longer to get it paid off and getting it paid off should really be the goal.
May be I Can Help You:
Just try:
http://www.proloanz.com/debt_consolidati...
http://www.mortgagerefinancingatlowrate.
http://www.topamericanmortgage.com/debt-...
http://www.apply4less.com/debt_consolida...
They Will Definetly Help You
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