Comments for Fresh Start Debt Free

Comment on What’s better for consolidating credit card debt? by CALIFORNIA GOLD

CALIFORNIA GOLD — Sun, 06 Jun 2010 03:35:19 +0000

Don’t pay it off over a couple years; it will kill your credit. You need a lump sum to start with whether it be a personal loan or via a refinance of your home. Then, if the bills are delinquent, you should have professionals obtain the best possible settlements for you. Check out the free evaluation form at

http://www.totaldebtsolutionsllc.com

Comment on What’s better for consolidating credit card debt? by stopccdebt

stopccdebt — Sun, 06 Jun 2010 02:55:50 +0000

If you can get a loan at a low rate to eliminate all of your credit card debt, that is generally the best option. Your credit score may be lower due to your debt balances, though.

There are some unsecured loan options through your bank or credit union that would work best. Otherwise, you may need to get a home equity loan to get the best rates.

Comment on What’s better for consolidating credit card debt? by sarge927

sarge927 — Sun, 06 Jun 2010 02:01:19 +0000

When the banks wouldn’t give me a debt-consolidation loan I went with Consumer Credit Counseling Service of Ventura County, California. They got my creditors to lower my monthly payments (and the interest rate charged in some cases). The trade-off was I had to pay CCCS directly by money order every month and they charged $10.00 a month for their services. Not bad considering. There was no penalty for paying more than the minimum amount, but you had to let CCCS deal with your creditors if there was a question or a problem. Again, not bad considering. After two and a half years I was debt-free and CCCS helped repair my credit rating. Now I’m more careful about paying off my credit cards in full every month, but I would recommend CCCS to anyone. P.S.: Had a friend who went with Consolidated Credit Counseling Service and they screwed him over. Because of their incompetence he became 90 days delinquent and a bunch of his creditors demanded payment in full immediately. He had to borrow money from friends and family to keep them from putting a lien on his house. Don’t go with them — if they have to advertise on TV to drum up business they can’t be very good.

Comment on What’s better for consolidating credit card debt? by Jamz

Jamz — Sun, 06 Jun 2010 01:46:24 +0000

It depends on what you can handle. If you get a personal loan then your payment will most likely be higher than the minimum payments on the credit cards. But the upside to a personal loan is that the interest is fixed and the term is installment payments (you’ll know exactly when you’ll pay it off) vs. revolving account (endless payments) with the credit card companies.
The credit consumer counseling should be your last resort…if you can’t handle the fixed payment on a personal loan then go through a ccc. But why pay the ccc a fee to make payments for you. You could always phone the credit card companies and try to work something out with them, especially since they don’t want to charge off any $ amount on their books. If your account is in good standing then maybe they can offer you a better interest rate.

Good luck with your decision!

Comment on What’s better for consolidating credit card debt? by frogbfound

frogbfound — Sun, 06 Jun 2010 01:20:53 +0000

I personally am getting ready to go with cccs to help with my bills the only down side to going with one of these companies is that it is reported as slow pay on your credit report but that is better than a deliquency

Comment on What’s better for consolidating credit card debt? by jessigirl00781

jessigirl00781 — Sun, 06 Jun 2010 00:42:27 +0000

You might not get a loan depending on your credit. If you can maybe you should but depends on the debt. Sometimes just paying it off in the long run is better. I know it is hard but eventually you will break free from it.

Comment on How do I go about consolidating my credit card debt? by Rony

Rony — Tue, 01 Jun 2010 05:20:55 +0000

The Credit Score (also known as your MyFico score) is calculated with the following breakdown:

* 35% – Payment History
* 30% – Credit to Debt Ratio
* 15% – Credit History
* 10% – New Credit
* 10% – Credit Types in Use

The best is a smal personal loan consolidation. I found interesting information about your answer & options here. http://all-debt-consolidation-loan.blogspot.com/2007/07/loan-consolidation.htmlGood luck!

Comment on How do I go about consolidating my credit card debt? by Studly

Studly — Tue, 01 Jun 2010 04:51:11 +0000

First, let me give my standard warning about consolidation loans.

Many people have fallen into this trap. They take out a loan to pay off their credit cards….then turn around and run up the credit cards again. Now they are in twice the amount of debt, and end up filing for bankruptcy. I have seen this happen many times.

That said…

If you have a home get a home equity line of credit. The interest rate is low, and it’s tax deductible.

You can get a personal loan, but trying to get a $12k loan with no security may be difficult.

I’m not sure you will find a credit card with a $10k limit either, but if you can find one with a great interest rate, do that.

For now, pay off that card with the small balance as quickly as possible, then pay off the large debt.

Also don’t be afraid to call the credit card company up and ask them to lower the rate. Sometimes you will catch them on a good day, when they are acting human.

Comment on How do I go about consolidating my credit card debt? by raniokoye

raniokoye — Tue, 01 Jun 2010 04:40:38 +0000

Bad credit debt consolidation provides many benefits to the borrower like:

Unification of all debts into a low interest rate loan
Saving money that is paid as interest
Hassle-free processing
No harassment by lenders
Improvement of bad credit history

Bad credit debt consolidation can be obtained in two forms, secured and unsecured. Something many of us seek when we’re unable to get past all the credit debt which as piled up. Indeed, as the national credit debt burden grows, many creditors are pleased to work with people interested in resolving their debts.

for information on current lenders you can check out:
http://www.insightempire.com/badcredit.htm

Comment on How do I go about consolidating my credit card debt? by Marian K. (celebrate-family.com)

Marian K. (celebrate-family.com) — Tue, 01 Jun 2010 04:22:39 +0000

Try the DiscoverCard. They sometimes offer a 0% interest forever as long as you make the minimum payment and two purchases per month. They have been very good about not changing the terms of this agreement. For my two charges each month I purchase two yogurts or two gas purchases at about 50 cents each. Remember that your minimum payment will be about 2% of the total balance.

And once you have transferred a balance to a 0% balance card, you DO NOT want to use the card unless you have to. The reason being that any payments are applied to the lower APR balance first. So if you transfer to a 0% and then charge an additional $50, the $50 will accrue interest until the 0% balance is paid off.