Consolidating debt through consumer credit counseling services? Info needed.?

Tips and Deals Forums Debt Management Debt Management Consolidating debt through consumer credit counseling services? Info needed.?

Viewing 0 reply threads
  • Author
    Posts
    • #340647
      Anonymous
      Inactive

      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!

Viewing 0 reply threads
  • You must be logged in to reply to this topic.
Register New Account
Reset Password