nycitaliano9
Senior Member
- Location
- North Babylon exit 51 lie
Debt Consolidation I Need to Find a good Company to help me Consolidate everything
Debt Consolidation (Help )
- Thread starter nycitaliano9
- Start date
- Location
- Howell, NJ
1 800 stop charging everything :lol2:
I had called these people some years ago, and they helped me tremendously. Although we ended up using their refinance debt instead. But do ask questions please. If I recall correctly they are "Non for Profit".
The telephone number for the debt consolidation company is 1 800 887 3328 and be sure to ask for Tina Kay. The name of the company is A-Family Budget Counseling, Inc.
Best wishes...
The telephone number for the debt consolidation company is 1 800 887 3328 and be sure to ask for Tina Kay. The name of the company is A-Family Budget Counseling, Inc.
Best wishes...
- Location
- Nueva York
How is he supposed to get a low-interest bank loan when the man is in debt? Odds are his credit is shot. Im sorry nycitaliano, best of luck to you buddy. :hug:
Well lets see, he did not indicate that his credit was shot. I'm going by information that has been supplied. Not everyone that is in debt are behind and have late payments. I was in debt when I was 21, which to me meant I maxed out a few credit cards and had a student loan, BUT I didn't have late payments. So, I took out a low interest bank loan and paid off the high interest cards and my student loan.
People in debt get loans to consolidate everyday......they are even called consolidation loans
Last edited:
Well lets see, he did not indicate that his credit was shot. I'm going by information that has been supplied. Not everyone that is in debt are behind and have late payments. I was in debt when I was 21, which to me meant I maxed out a few credit cards and had a student loan, BUT I didn't have late payments. So, I took out a low interest bank loan and paid off the high interest cards and my student loan.
People in debt get loans to consolidate everyday......they are even called consolidation loans
So relax Jethro.
it's not just late payments...it's also the ratio of income to revolving debt (credit cards)...Even if you make all payments on time, the more revolving debt you aquire, the lower your credit score is. In most cases where people need to consolidate credit card debt, the score isn't up to par for a personal loan from a bank.
In order to get approved for a personal loan w/ no colladeral, you have to have a really good credit score. Years ago when i got out of college i had alot of credit card debt. Even though i made all my payments on time, my score was 700. A 700 credit score was not enough for me to get a loan without a cosigner.
Most of the "consolidation loans" out there are just a more attractive name for "2nd Mortgage"
Last edited:
nycitaliano9
Senior Member
- Location
- North Babylon exit 51 lie
Thanks for your Info guys
Im look at this Company : http://www.creditsolutions.com
Does anybody Know anything about them.
Im look at this Company : http://www.creditsolutions.com
Does anybody Know anything about them.
nycitaliano9
Senior Member
- Location
- North Babylon exit 51 lie
Spoke With the people Of WWW.CreditSolutions.com
This Is the type of deal they got for me.
Debt $9000 they will Knock it down to $3600 and charge me 15% So thats $4950 $138 x 36 months
Total Savings Of $4000
What You Guys think
This Is the type of deal they got for me.
Debt $9000 they will Knock it down to $3600 and charge me 15% So thats $4950 $138 x 36 months
Total Savings Of $4000
What You Guys think
Man, just do it cautiously! You better go over the contract with a fine tooth comb. For about $4-500.00 you can have a lawyer look it over and see what he has to say.
So they will knock $5400.00 off your debt and then charge you an interest rate of 15% for the other $3600.00. It does sound good, but why and how? Something smells:fish:y. Also, some of these debt companies require you to close those credit account, part of the contract. You really don't want that. Closing all your accounts negatively effects your credit.
So they will knock $5400.00 off your debt and then charge you an interest rate of 15% for the other $3600.00. It does sound good, but why and how? Something smells:fish:y. Also, some of these debt companies require you to close those credit account, part of the contract. You really don't want that. Closing all your accounts negatively effects your credit.
nycitaliano9
Senior Member
- Location
- North Babylon exit 51 lie
Thanks but these accounts are already closed i just need them payed of so i can start fresh
- Location
- Marine Park
WHat they do is negotiate your debt. I know an attorney that does this and also does credit repair. Essentially they both do the following:
"Hello, on account # xxxxxxxxxx, yeah you're never going to see that money. How about we give you 65 cents on the dollar?"
The rest becomes a charge off, etc. Not the best for your credit but if they are closed with an open balance it's already negative. Once all is said and done he then goes about disputing every last negative thing on your credit. Then does it again, every 24 hours.
WHen you dispute anything on your credit, the secured party has either 24 or 48 hours to respond to the credit agency. They don't have to prove anything, just respond "Yes, that's not a mistake." If they fail to respond in that time period it will be expunged from your credit. Over the course of 6 or 12 or 18 months of disputing something every single day, eventually it will all be removed. Then you will have no credit, which you can slowly build back up.
That is it in a nutsack.
"Hello, on account # xxxxxxxxxx, yeah you're never going to see that money. How about we give you 65 cents on the dollar?"
The rest becomes a charge off, etc. Not the best for your credit but if they are closed with an open balance it's already negative. Once all is said and done he then goes about disputing every last negative thing on your credit. Then does it again, every 24 hours.
WHen you dispute anything on your credit, the secured party has either 24 or 48 hours to respond to the credit agency. They don't have to prove anything, just respond "Yes, that's not a mistake." If they fail to respond in that time period it will be expunged from your credit. Over the course of 6 or 12 or 18 months of disputing something every single day, eventually it will all be removed. Then you will have no credit, which you can slowly build back up.
That is it in a nutsack.
nycitaliano9
Senior Member
- Location
- North Babylon exit 51 lie
Thanks but
"Non for Profit". will only get your cards to drop intrest for you and then charge you a fee
I can get intrested droped on my own why pay for it.
Thanks anway
How did you manage to close your accounts if they had balances on them?
Like the common thread here, I too was in debt when I got out of college. Too much traveling and partying. I didnt have problems with late payments so I was able to get a loan, at a higher interest rate than I would have preferred, and paid everything off. I then paid off the loan in 2 years. Everything worked out.
Just make sure if you go with that company to read, read and re-read everything. You dont want to make it worse for yourself.
And a final piece of advice: This might not be the best hobby to keep if you are trying to get your finances in check. A few frags here and there easily add up to a months payment on a loan.
Good luck.
Like the common thread here, I too was in debt when I got out of college. Too much traveling and partying. I didnt have problems with late payments so I was able to get a loan, at a higher interest rate than I would have preferred, and paid everything off. I then paid off the loan in 2 years. Everything worked out.
Just make sure if you go with that company to read, read and re-read everything. You dont want to make it worse for yourself.
And a final piece of advice: This might not be the best hobby to keep if you are trying to get your finances in check. A few frags here and there easily add up to a months payment on a loan.
Good luck.
- Location
- Hudson Yards
Just checked their Better Business Bureau rating and it doesn't look good. The BBB has fielded over 500 complaints about them in the past year.
"Complaints are regarding dissatisfaction with the company's service and misrepresentation of the results of the debt negotiation program. Specifically, customers complain that paying the company fee and following the debt negotiation program does not reduce debt, as stated by company representatives. As a result of the program, customers complain, they have an increase in debt, due to late fees or additional interest and negative credit reporting. The company resolves complaints by offering refunds or refering to the Client Services Agreement for explanation. Although the company resolves most of the complaints it has failed to correct the underlying reason for the complaints.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
The Bureau processed a total of 528 complaints about this company in the last 36 months, our standard reporting period. Of the total of 528 complaints closed in 36 months, 407 were closed in the last year."
"Complaints are regarding dissatisfaction with the company's service and misrepresentation of the results of the debt negotiation program. Specifically, customers complain that paying the company fee and following the debt negotiation program does not reduce debt, as stated by company representatives. As a result of the program, customers complain, they have an increase in debt, due to late fees or additional interest and negative credit reporting. The company resolves complaints by offering refunds or refering to the Client Services Agreement for explanation. Although the company resolves most of the complaints it has failed to correct the underlying reason for the complaints.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
The Bureau processed a total of 528 complaints about this company in the last 36 months, our standard reporting period. Of the total of 528 complaints closed in 36 months, 407 were closed in the last year."
Sponsor Reefs
We're a FREE website, and we exist because of hobbyists like YOU who help us run this community.
Click here to sponsor $10:
