Debt Consolidation Homepage

Question: Is debt consolidation work?

(Posted by: tbone420 on 2010-07-16 07:21:32)

I got over 10000 in debt and i can only get part time work

Posted by: Jay P on 2010-07-16, 07:31:33

It really doesn't. all it does is shift debt from lots of places to one place. The terms are generally horrible and they charge huge fees. If you think about it, they have a business that depends on lending money to people with bad credit and high debt. They only way you can do that is the charge high interest and get some profit up front.

Posted by: mslider2 on 2010-07-16, 09:05:41

Yes, and no. Depending on the company what they usually try to do to "hook " you is offer to consolidated all your accounts/ debt into a lower monthly payment. Lets say that you owe 10 companys 10,000 each and pay 1,000 a month to each, you would pay them off in 10 months. But debt consolidation lets you lower your payment to 500 a month It not only takes twice as long to pay it off but then you have their fees and interest to work with. Your best bet is to pay off the debts that are the highert interest and penelties first, then concentrate on the smaller amounts.

Posted by: Katelyn Randolph on 2010-07-18, 06:49:07

Hey It is possible to get rid of debt, but you have to know exactly how to do it.There are many websites , that offer that service, but unfortunately most of them are scams. Last year I found a web site that helped me to save more than 30% ... They are one the best websites . If you really need help, I would recommend you DebtProExpert.info ... They really know how to help you. I really hope this will help you