Finally a Realistic Way to Get Debt Relief
The 5th in a series of educational videos from the MoneyHarvest Institute. We help change lives for the better and empower people to have Prosperity Thinking. More about us and our non-profit Christian Credit Counseling Services at www.cccfree.org
Duration : 0:5:38
I’ve heard positive and negative stories about people using them to help reduce credit card debt. Looking for good examples of help.
i would not use one — i would work the problem out myself by downsizing my life style and just work throught the debt!!!
The 3rd in a series of educational videos from the MoneyHarvest Institute. We help change lives for the better and empower people to have Prosperity Thinking. More about us and our non-profit Christian Credit Counseling Services at www.cccfree.org
Duration : 0:4:33
Christian Credit Counselors is a national non-profit association dedicated to helping consumers achieve financial wellness through counseling and education. Established in 1990, Christian Credit Counselors has helped over 2 million individuals achieve financial security. Christian Credit Counselors is one of the top members of the American Association of Debt Management Organizations (AADMO). They are also HUD approved, Fannie Mae Certified and a United Way partner. They manage clients across the country. Personalized and confidential consultations are available in person, by phone or online. Visit Christian Credit Counselors at www.ibudget.org or call 1-800-557-1985. (more)
Duration : 0:2:34
The 4th in a series of educational videos from the MoneyHarvest Institute. We help change lives for the better and empower people to have Prosperity Thinking. More about us and our non-profit Christian Credit Counseling Services at www.cccfree.org
Duration : 0:4:13
I have never been late on credit card payments, as a result, I was given and have very high balances, and can no longer afford even minimum payments. I want to close all these accounts and see if I can negotiate a payment plan and minimize high interest rates.
My question is, am I better to resolve it with the credit card company direct, or use a debt counselor service?
PS: To complicate this situation, I got these credit cards using a ss# of my deceased father, which I know is wrong, and I know it is a crime, I just need to resolve it so it will quit causing me the severe financial problems and legal worries that I have (karma penalty perhaps, and I’ve asked for forgiveness). Thanks for your help or suggestion on how best to resolve the problem.
Initially, I would have told you that a credit counselor will be able to negotiate significantly smaller interest rates and payments for you, but in reading your entire question, I would advise you not to call any unnecessary attention to the situation, as what you have done is illegal, as you know. I’m afraid you’ve really painted yourself into a corner here. If you call the credit card companies, you may be forced to pose as your father if they are in his name. That could open a whole new can of worms. So, the best advice I can give you is to start with the account with the smallest balance and pay as much as you can on that to pay it off, while making the minimum payment on your other ones. After that one is paid, move on to the next biggest balance, and so on. Don’t close the accounts when they are paid off – this does more damage to your credit than leaving them open with a zero balance. It will take a lot of time, but be patient and you’ll get there. Good luck!
A co worker of mine said that she had several thousand dollars in debt and she said she is only paying a fraction.
Sounds too good to be true….
and.. she said that it was free from the state of california..
Yes … this does happen. There are a lot of variables though. How much do you owe? Does the creditor think you can make the payments as they are or will you default? I have a friend that did this through Credit Management. The good thing is…. the interest is cut.
If you have several debts, the management company combines and negotiates them and you make one payment per month. You cannot incurr any new debt however. Ultimatley you pay a lot less. And the monthly payments are much easier to manage.
Usually the management fee is part of the monthly payment and you pay a small setup fee at the beginning.
There are some bad people out there though. Be careful who you deal with.
Hope this helped
The 1st in a series of educational videos from the MoneyHarvest Institute. We help change lives for the better and empower people to have Prosperity Thinking. More about us and our non-profit Christian Credit Counseling Services at www.cccfree.org
Duration : 0:5:38
The 6th in a series of educational videos from the MoneyHarvest Institute. We help change lives for the better and empower people to have Prosperity Thinking. More about us and our non-profit Christian Credit Counseling Services at www.cccfree.org
Duration : 0:5:24
Like the debt counselors that work with your creditors to reduce your monthly payments. Does that look bad on your credit? Has anyone ever done this?
No they are not loans. They work directly with your creditors to lower your monthly payments. They don’t loan you money.
Hi, It will not look bad on your credit report as long as you are paying the consolidated payment on time. Debt consolidation is a way to ensure that your credit score comes to proper level as well as ensure that you manage your finances better. A few articles that might help are given below.
Debt Consolidation – Get Out Of Debt
http://www.askaquery.com/Answers/qn1643.html
How to Hire a Debt Counselor?
http://www.askaquery.com/Answers/qn1584.html
What is Debt Relief?
http://www.askaquery.com/Answers/qn1583.html
Debt Management and Building Wealth
http://www.askaquery.com/Answers/qn1581
Building Wealth by Reducing Debt
http://www.askaquery.com/Answers/qn1578.html
How to Manage Your Credit Card Debt?
http://www.askaquery.com/Answers/qn1579.html