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Answers

What is a reputable debt consolidation company?

I fell behind on my credit cards when I had an emergency medical expense. Even though I have a steady job and income, they've raised the payments and dropped the limits so there's no chance I'll catch up. I want to do debt consolidation but most companies Google brings me are a scam. I know it ruins your credit, but 8 90+ past due accounts does that too. I've been unable to work out plans with them or find a second job. What is a reputable company?


For my debt issues I would go here: http://www.direct.gov.uk

They are extremely helpful and are a mine of Free relevant information about debt consolidation.

Another source of Free info

http://debt-help-debt.blogspot.com/

Array


www.debtconsolidationupdates.c om With the economy in trouble and more layoffs being announced every day, many people are looking for ways to stay ...

How much does it cost generally to pay a debt consolidation company?

I was wondering how much does it cost to pay a debt consolidation company to help you, because I want to know if it's worth it. I'm in so much debt making barely and I don't know what else to do. On payday I usually just have 100-200 dollars to myself because the rest goes to my bills.


Credit Counselors charge between $10-$50/month and get your interest rates cut a bit.

Debt Settlement companies usually charge about 15% of what you owe over the term of your program.

A mortgage debt consolidation will cost you from 1% to 4% of the amount you refinance.

What you should really look at is what is the total cost to get debt free, how long the program will take, and how low each can get your monthly payment.

Try to get a free consultation from someone, this page had a good review of your options and considerations so you choose the right path for your situation:
http://www.bills.com/blog/consolidate-debts/

what is the best debt consolidation company?

I am looking for the best debt consolidation company to help get me out of the mess I am in. Suggestions?


They are ALL SCAMS. Don't get ripped off.

Go see a local non-profit debt counselor. They will elp you with a budget and help you work with the creditors. No fast easy fixed.

Will any debt consolidation company include secured debts like cars and educational loans into the program?

Will any debt consolidation company include secured debts like cars and educational loans into the program?
Is it uncommon, does anyone know of one?

Is this the way that a debt consolidation company works? They reduce the amount?

What is a good debt consolidation company that will negotiate what you owe by negotiating with the creditor, and then you owe less than before to each creditor, but you owe them for one big new loan , to them for paying your debts?
So they are getting your debts down by negotiating and then give you a consolidation loan to cover the amount owed to them now?


go to www.payplan.co.uk
or citizens advice
i would never pay a company to negotiate my debts. if a company is doing this for you there will be a charge (thats why its registered as a company rather than a charity) for the service nothing ever comes for free.

Has anyone worked with any debt consolidation company that has worked or is working for them?

I am looking for a debt consolidation or debt relief company that is reputable and will do the job. I need to consolidate medical bills, pay day loans and credit card bills.


my sister used Consumer Credit Consuling Service and now her score is actually rising

Crystal River Announces Agreement to Restructure Its Outstanding Trust ... CNNMoney.com (press release)

Crystal River Capital, Inc. (OTCBB: CYRV) (the "Company"), a specialty finance REIT, today announced that it has entered into a binding letter of intent (the "Agreement"), pursuant to which the Company agreed to the terms on which the Company would exchange certain of its assets for the outstanding preferred beneficial interests (the "Trust Preferred Securities") of Crystal River Preferred Trust I, a Delaware statutory trust, that are held by certain collateral debt obligation vehicles (the "Preferred Holders"). The outstanding Trust Preferred Securities currently have an aggregate liquidation preference of $50 million.

Pursuant to the Agreement, the Company agreed to pay certain cash fees and to transfer or cause to be transferred to the Preferred Holders certain specified assets (collectively, the "Consideration") in exchange for all of the outstanding Trust Preferred Securities (the "Transaction"), which would then be cancelled and Crystal River Preferred Trust I would be dissolved.

Be Alert Debt Consolidation Scams Are Rampant

There are contrasting debt consolidation companies obtainable that are reputable companies and will take care of your accounts accordingly. Unforunately though there are many that are scams but appear great from the outside.

You can be gypped by debt consolidation companies in 2 manners. The first one is they state to you not to send in a number of payments while they develop you a settlement deal.Then they take your money that you’ve preserved for the resolution seemingly preserving it for you, but calendar months afterwards, come time for the resolution, the company skips out on you with your funds leaving you holding the bag as it were.

Another scam by questionable debt companies is when they acquire your funds and don’t make your payments as agreed. Finding Out with your lenders to make sure that they are getting paid is simple enough though some individuals just take it for granted that since the party acquired their money they’d induce the requitals as agreed upon.

On the other hand there are various parties out there that practice the appropriate things too, you just have to be thorough. In order to protect you money the most effective thing to do is research before you pick out a party. Make a point that any party you are thinking of cultivating a relationship with is documented with the BBB and doesn’t possess any complaints against them. You can likewise search the company on google or google blogs and discover what individuals say about the company. You should also make a point that they can be contacted by telephone.

You should also check and make certain you have selected a party that handles debt consolidation and not debt reduction. The differences are rather significant and a debt reduction company is going to kill any good credit you might possess. They get resolutions with all your creditors and you end up paying less to get out of debt. In The Long Run though you will end up paying through the nose because of the awful credit rating.

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