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Credit Card Bill Consolidation

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Jeremy Said:

Has anyone here dealt with a fraudulant credit card consolidation company?

We Answered:

There are literally thousands of them...

If your friend sent them money then there is a paperwork trail that he has copies off or at least can get the paperwork from his bank if he used his bank account to transfer money.

Go to rippoffreport.com and enter any name that sounds familiar or run a generic search on their site for " credit card consolidation scam"
Then sift thru the messages and articles that come up until you find something that fits the profile or sounds familiar.

Antonio Said:

Are there any good, legitimate credit repair, bill consolidation companies?

We Answered:

Run, and run away fast if the say negotiation, or debt settlement.
You pay them thousands of dollars, and they do little for you.
They leave your bills unpaid so that your creditors will get nervous and settle.
(They don't tell you this - you continue to make the same monthly payments).
Your credit gets ruined, and sometimes you end up in court anyway if the creditors don't settle.

Google debt settlement company
complaint, rip-off, scam
It will open your eyes as to what these companies really do.

You can easily do this yourself.
Go to your library or bookstores and get a book on debt / credit repair in the finance section.
They will tell you step by step how to negotiate, settle and reduce interest rates.
Easy to do when you have a book that tells you what to do in detail.

If you are in serious trouble contact NFCC.org
It's a non profit organization - at no cost to you.
They will require you to make an appointment at a local office.
You will have to take all your bills, they will shread all your credit cards. Within 3 years, you could be totally debt free.
The DMP program is well known by creditors. You could see your interest rates drop down to nothing, once a creditor knows you are under their plan.
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Richard Said:

Debt Consolidation Loan For Bad Credit?

We Answered:

You need to have good credit to get a real debt consolidation loan..

Debt consolidation also refers to a risky practice of debt settlement: deliberately defaulting on your credit cards to try to force your creditors to settle for less.

Stay away from any "debt consolidation" company that promises to cut your debt and payments in half through debt settlement....This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. You pay a monthly fee to a debt consolidator....this entire fee goes towards building a settlement account and to the consolidator's fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances...You can never predict how your creditors will respond to the deliberate defaulting of your accounts...they might settle at 50%...or they might serve you a summons, take you to court...and if they win, you could be looking at wage garnishment.

Georgia Said:

How can I get debt consolidation with hospital bills and non credit card debt?

We Answered:

Call the hospital and see if they have any programs that can help. Last month when I ended up in the ER with my gallbladder we got put on a payment plan where we only pay off $28 a month until the bill is gone. The surgeons office also worked out a plan where we actually only have to pay half of what the bill would have been (because my dingbat husband cancled our health insurance back in May *smacks head against wall*).

Kurt Said:

Considering credit card debt consolidation, would this be a good choice; recommendations who I should use?

We Answered:

transfer the balance to a new card with 0% INTRO APR for balance transfer. pay the monthly minimum on time to build up your credit rating. make sure read all term related to rate. once the intro period near the end transfer it again.

Sylvia Said:

Credit Card Debt Consolidation?

We Answered:

There was a lady here crying that she gave care one consolidation company 3,000 dollars. After 3 months, they had not paid any of her bills. She seemed confused.

Be careful.
Other advise I've seen here is that you can do this on your own. Call each company, and threaten to close your accounts unless they can lower your interest rate. Also get your credit report at annual credit report . com
(if they charge you = it's not free) no need for a score - that's a waste of money.
Once you get your report dispute things.

That's about all these companies do for you.
Good luck.
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