Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Debt Consolidation and Refinancing » What is the difference between Debt Consolidation and Credit Counseling? I have a place in mind that does debt

What is the difference between Debt Consolidation and Credit Counseling? I have a place in mind that does debt

consolidation but charges a $40 fee. They also do credit counseling (which I don’t need.) I just need to lower my monthly payments because of high interest. I don’t want a service like credit conseling to effect my credit score. Any response would be appreciated.

I definately don’t need any credit counseling as much of my debt was accrued through phenomenal interest.
I just want to have one payment a month with the lowest possible interest.

RELATED POSTS:

  1. CREDIT COUNSELING and DEBT CONSOLIDATION VIDEO: What you need to know before you sign up www.CreditRepairPublishing.com CREDIT COUNSELING and DEBT CONSOLIDATION What you need to know before you sign up. “(NPR News, May 15,...

  2. Debt Consolidation Florida – Consumer Credit Counseling FL debtreliefmiamiflorida.com Debt Consolidation Florida – Consumer Credit Counseling Florida. Debt settlement, Debt management, Debt negotiation. A Horizon Debt Group...

  3. Debt Settlement: Your Alternative To Bankruptcy, Credit Counseling or Debt Consolidation www.DebtmericaFreedom.com Debt Settlement video series focuses on credit card debt relief using Debt Settlement as an alternative to Bankruptcy,...

  4. I need a reputable credit counseling coumpany for mandatory pre-filing bankruptcy counseling. Who did you use Don’t give me a “debt management” of “consolidation” solution as I will report you as a SPAMMER. I have already...

  5. Credit Counseling Miami – Debt Consolidation Miami debtreliefmiamiflorida.com Credit Counseling Miami – Debt Consolidation Miami. Debt settlement, Debt management, Debt negotiation. A Horizon Debt Group 123...

Written by

Filed under: Debt Consolidation and Refinancing · Tags: , , , , , , ,

2 Responses to "What is the difference between Debt Consolidation and Credit Counseling? I have a place in mind that does debt"

  1. bdancer222 says:
    Som debt consolidation/credit repair companies charge you fees and then trash your credit. The get your creditors to settle for less by not paying them till you’re a couple months behind then threatening bankruptcy.

    Check with Consumer Credit Counseling Services (CCCS): http://www.nfcc.org/ . They offer free counseling and can look at your finances and advise you how to proceed.

    If you are just looking to take out a loan to pay off you debt, it’s just shifting your debt. You end up paying more interest over the longer term. Many people end up running the credit cards right back up so you are even deeper in debt.

    If you really work at it you can pay off all that debt. Make a strict budget. Eliminate all the extras — cell phone, eating out, new clothes,etc. Put every penny you can squeeze out of that budget on the highest interest rate debt, while making minimum payments on the rest. When the highest interest rate debt is paid, move to the next till they are all paid.

    You can pay it all off in 2 or 3 years. Even faster if you get a second job and throw that at the debt.

Leave a Reply

Connect with Facebook

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player