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I am single guy, with a house, looking to lighten the load on my wallet. I was hoping to combine a small loan, an old credit card bill and my mortgage into “one lower monthly payment” like all the ads claim, but I want to know if there is a down side. Also, I am about as financially challenged as they come so keep any responses in easy-to-understand terms. Thanks!

2 Thoughts on Anyone have any horror stories from using a debt consolidation company?
  1. Reply
    sherri t
    October 30, 2011 at 4:11 am

    Go for it. They have helped me out tremendously!

  2. Reply
    ft3535
    October 30, 2011 at 4:14 am

    I have two stories….
    one is a family did this and they ended up in much worse trouble a year later….they had to get in touch with an attorney and the attorney general to get them out of the bad consolidation companies grasps…and then they went with a company the attorney helped them get…

    and now the second story, is also from the first story…they had more debt after the first company messed with their credit and added much more charges onto the families bills…but the one the attorney helped the family get…LOWERED the monthly outlay of money for the family and it is working fantastic for them NOW….
    so please be careful, very careful on who you work with….email the Attorney General and ask about the companies you are thinking of using to see if they are OK to use…not all are good to use…
    do your home work first, and before you sign, make sure you know what your getting into, they will all try to sweet talk you into signing their papers…

    good luck

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