Debt consolidation?

Question:

Hello again guy's. I just wanted to share my experience with creditsolutions.com. I called and spoke to someone about my situation. The conversation started out good and went bad within a few minutes. First I was told there was no fee for the service and then it turned into %15 of the monthly payment. Then it was explained to me that my debt wouldn't be paid off every month by the company, but I would be putting a certain amount of money in a seperate bank account to be saved until credit solutions negotiated (settled) with my debtors. I need a resoltuion asap. If I saved the money myself I wouldn't need credit solutions. Does anyone know of a lending institution that will lend to someone with fair to good credit? I need a debt consolidation loan, not a settlement, which will reflect negatively on my credit report. I'm very disappointed. Thanks guy's.

Try Consumer Credit Counseling.Here is why.

Debt Settlement companies will destroy your credit.They keep your money and pay nobody until a creditor agrees. So what can happen is that this drags out the problem...And, they cannot guarantee anything.Also, you could get your wages garnished ECT.

Consumer credit counseling is a non profit which already has negotiated lowere interest rates...They are also funded by the credit card companies.You will see a nice drop in what you pay each month...This means that your credit score will not drop nearly as much as Debt Settlement...

Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.
http://debt-trap.com/category/debt-conso...

thanks for your experience. Opt for a debt consolidation loan. I found interesting information about your answer & options here. http://all-debt-consolidation-loan.blogs... Good luck!

Loans are great when you have good credit. Some credit unions offer reasonable consolidation loan rates.

If you are having financial troubles, then perhaps credit counseling would be a better choice. If you really need help with interest rates and lower payments, then you may wish to ask about a debt management plan. It consolidates the payments, but it is not a loan.

There is a great place to go with this. I was in a very similar situation.

This is getting help from real people without the use of banks or credit card companies. Good Luck!

http://www.prosper.com/join/lzc5wh...

Debt consolidation is an option, and you should look into it. Just be careful about WHAT you're getting into. Some plans, because of their higher APR rates get you into more trouble than you were.

Also, some lenders look poorly upon it later on. Some institutions believe that it really is a black mark. It will depend upon the types of deals that your particular company or lender work out, and of course, your own individual circumstance. For some with absolutely NO way out, debt consolidation is a welcome option.

Take a good hard look at all the options and plans offered, and don't let a single company pressure you into something you just can't do. Make sure that you're comfortable with the plan offered before you commit to it.

In any case, it doesn't hurt to investigate debt consolidation as an option. It doesn't cost you anything to find out more information about it.

If you want a place to start your investigating, there's information and listings for debt consolidation providers on the page listed below. You'll probably find something of use there:

http://axalda.info/debt-consolidation.ht...

Debt consolidation?

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