Can u still file for debt consolidation after your bills have been sent to collection agencies?
Question:
Answer:
Okay if you really want an answer to this ...be ready cause here it comes..
Yes,HOWEVER... lets explore why you think that a debt col loan is what you need---
Debt Colsol loans are made for people who:
1. Owe more than 1 years income in revolving debt(credit cards).
2. Have not be able to make monthly payments on more then 1/3 their bills.
3. Have just gone through a major break up/divorce etc. (loss of income and ability to pay)
If you are not in these 3 categories then you need to contacted each of the creditors and work out payment plans and freeze the accounts in question DO NOT CLOSE THEM THIS WILL HURT YOUR CREDIT RATING EVEN FURTHER, if you do not do this asap you will have years of bad issues on your credit that will hold you back from so much in life-- like-buying a home, car,or boat etc. I hope this helps...
Remember you are only as good as your word or in this case your last on time payment
***here is a tib bit-- if you can not pay the minimum payment call them and tell them what you can afford-- they are willing to work with you if you give them a chance.
There is a lot of good info on this subject right here.
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