- This topic has 0 replies, 1 voice, and was last updated 8 years, 10 months ago by Anonymous.
- June 10, 2011 at 4:05 am #340647AnonymousInactive
I have approximately $ 2000 of credit card debt that I absolutely need to get paid down. i talked to consumer credit counseling services, a debt consolidation company, and this is what i was told:
Basically they would cut my payments down to about $ 130 a month total for 3 cards by getting my interest rates lowered to between 6 and 10% approximately. I would pay it off in 2 years instead of 8 as i would now without consolidating. he said the $ 130 a month payment included a monthly fee of $ 49 directly to the credit counseling service for their help and services. Is that the normal thing when consolidating? Is that legitamet? I would only be paying $ 80 or so a month on the actual credit card debt and that doesn’t seem like very much to me.
Anyone have any knowledge in this area? Is consolidating a smart thing to do and does it hurt your credit in any way? Is there a smarter way to do it?
LONG-sorry and thanks!
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