Anyone used a Credit card consoling services

**Tofer** · 10-27-2009, 08:29 PM

I finally have a job again, BUT in the last year of my run on unemployment my credit cards have gotten out of control. I make more than monthly miniumun payments but they are still MAXed out and I have a overall running balance that would buy a very nice new car off the show room floor. I haven’t been able to check my credit score since stupid chase took over wamu… but I can only assume its in the crapper. I’ve thought about doing the credit card consoling services, BUT my problem is this… I am that weird exception that has managed to rack up THOUSANDS of dollars in credit card debt, but still manage to pay enough off that keep my interest rates between 12-18%.... the few times I’ve gotten the telemarketer call saying that they can help by reducing my debt by lowing my interest rate, I ask can they beat 12 and they say.. umm no, we can do 22… So.. has anyone been in my boat before? How did you get out? What is the difference between “credit card consoling services” vs “bankruptcy”? I know bankruptcy will eff any chance I have of ever owning anything nice for the rest of my life… does going to a CCCS do the same? Is there anything I can do? At this point I’m honestly feeling that my life insurance policy out values my debt to networth ratio. I’m worth more money dead than alive….

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malteserunner · 10-27-2009, 08:46 PM

If you use a credit counseling service it will reflect negatively on your credit report. It allows creditors to see that you weren't able to keep up with your credit obligations on your own. It's doesn't reflect quite as badly as bankruptcy, but it is not something to go into without exhausting all other options first.

I would contact your credit card companies, and negotiate a payment plan with them. Tell them your situation, and ask them to lower your rates. They will often comply, because they are still getting money from you; if they don't help you out, you could file BK and they wouldn't get anything for your unsecured debt, this ending negatively for all parties involved.

As far as structuring a payment plan, you should pick the card with the lowest balance owed and pay anything extra to that one card. Make minimum payments on all the rest. When you have the first card payed off, close the account and put all extra money into the next lowest balance. Eventually with discipline and perseverance, you will be free of credit card debt. You should stop any sort of wasteful spending as well as suspend any and all credit card transactions possible. Best of luck with your challenge.

olharleyman · 10-27-2009, 08:53 PM

My friends parents used cccs before they knew what was what it screwed them as bad as a bankruptcy just did not show up the same on credit report. Make no mistake what you pay them to do you can do yourself for free with some searching and studying and without the mark from them on your report friends dad said it shows up like a bankruptcy and does the same thing to your credit.

They got out of cccs and did some research into combining all their cc debt into one payment without cccs and worked it all out on their own it took a couple years but they are now back to a 750 credit score and no one is the wiser about there hard times prior.

I will see if they can get me the info on how they did it and pass it on to you

TubedYota · 10-27-2009, 09:01 PM

Just do it yourself. I had a problem with one and I'd suggest not to do it.

**Tofer** · 10-27-2009, 09:03 PM

thanks for the replys... I have contacted my credit card companies... tehy will not budge on APRs. thats what i was afraid of.. cccs will eff me just as hard as go BK but i still have to pay money..

malteserunner · 10-27-2009, 09:10 PM

Quote:

Originally Posted by Tofer

thanks for the replys... I have contacted my credit card companies... tehy will not budge on APRs. thats what i was afraid of.. cccs will eff me just as hard as go BK but i still have to pay money..

If they aren't budging on rates right now, you probably aren't too far behind on your payments. The people who are getting the breaks on rates are the card holders the creditors are about to lose. At this point, you should just have a solid payment plan in your budget and push yourself to get rid of the debt.

You can do it!!!

**Tofer** · 10-27-2009, 09:17 PM

exactly... i'm NOT behind on payment... i pay MORE than minimum.... i am just upto my eyes in debt.

203Cree · 10-28-2009, 01:19 AM

Stop paying extra on all of them. Pick the low balance card and pay all the extra on it while paying the minimum on the rest. Once you have the low balance card payed off, apply it's payments twards the next lowest balance card. It takes time, but that's the simplest way to pay it all down without over extending yourself.

AND, not that I'm condoning it, but if you get one card freed up quickly you do have something to fall back on if something happens again. Right now you have nothing and won't have much to speak of until they're all paid for. Put a pencil to it and see where you end up. I've never had cc's, but my fiancee does and she got her butt in a sling. That's how we're taking care of it on her's and it's working out quite nicely.

tmcorbin · 10-28-2009, 03:10 AM

https://www.daveramsey.com

My wife and I have been through this guys classes. But you can buy his book and do the same thing. So simple you wont believe it. The kind of stuff our parents should have taught us. Now we pay cash for everything. Still have a little bit of one card left to pay off, and we have slacked on that some, need get back on top of it. But anyway, Dave has helped so many out that it is crazy.

1st step is to sit down and write out a budget, give ever dollar a name, and from here on out use only cash.

2nd step is to pay the min on everthything until you have put away a $1000.00 emergency fund.

3rd step is to pick the creditor that you owe the least to, attack that amount with every available dime you have. When that is paid, close the account, then transfer all that to the next one.

It is not a fast fix, and is painful, but with disapline several people that do not make a lot of money have paid off so much in a year that it will make you sit back and say wow.

Paying cash is nice, when you have $20.00 in your wallet, it is harder to buy things with it than it is to just whip out the old plastic and buy it.

Check it out. good luck.

Ironmike4x4 · 10-28-2009, 05:07 AM

Tofer: I HIGHLY recommend the "snowball effect" as 203Cree and tmcorbin recommends. It's a concept Dave Ramsey highly preaches about. You will have to make sacrifices along the way as far as cutting the cable/internet/phones and etc but in the end it will really be worth it. The following is the short and sweet version of what he recommends:

1. Save $1,000 as fast as you can for an "emergency fund" in case you lose your job or need a trip to the emergency room.
2. Pay off the lowest balance quickly while maintaining the minimum payments on others.
3. Once you pay off the lowest balance the pay on the next lowest but keep the minimum payments on the rest applying what you were paying on the first lowest balance. Then "snowball" from there until you've paid off everything
4. DO NOT open anymore credit cards or go into more debt, this defeats the purpose.
5. Start an "evelope fund" For entertainment, vehicle maintenence, etc but put a small portion in them every month. Do not use them for anything else other than what it was designed for. My wife started one for Christmas and we now have over $1,200 to spend this year for gifts.

My wife and I are enjoying the benefits very much. Thankfully we started earlier about 2 years ago and now with our first time home buyer's program will pay off her car in a few months with the 8K refund (we've ammended our taxes to get it earlier). The money we've been spending on her car payments will go for everything else 4Wheeler, extra house payment, etc. If you stick with it long enough it will actually become fun once you see the dark cloud of debt shrink and you've built more money into savings. You'll be much more comfortable and less stressed money-wise.

leebee · 10-28-2009, 05:38 AM

all very good advice tofer, hard work and perserverence will pay off in the long run. once you get in the habit of saving, it doesnt take long for the $$$ to build up! good luck, you are not alone in this!

lee

Ironmike4x4 · 10-28-2009, 10:04 AM

Quote:

Originally Posted by leebee

hard work and perserverence will pay off in the long run.

lee

You reminded me of one I forgot. "Delayed gratification." You may want something now but if it's a want and not a need then you need to fight the urge to spend the money. Look at it this way. You want a new TV or something. Is a tv necessary? If yours already works then why bother going further into debt. If you need food then food hopefully has priority over the TV. That's the best I can explain it though. Hopefully you get the idea.

jrock · 10-28-2009, 10:28 AM

There is a difference between credit card counseling and debt consolidation/settlement. Debt consolidation is great if your already late on credit cards, so your not worried about a credit score, but need to settle for pennies on the dollar without going thru a b/k. debt settlement/consolidation comps set up an escrow account that a monthly payment goes to...once theres enough in there they start negotiated with your creditors for you. Credit card counseling pays back all debt plus interest over longer period of time.

So debt settlement def. hurts your scores in short term but pays off debts quicker...cccs takes longer, wont hurt score as much-but creditors still see that u were in cccs and that reflects just as bad in there eyes...takes way more money.

Id rather have my money/bad score, than no money/good score....then it only takes couple years to reestablish credit with a car loan....gas card etc., especially if you already have a mtg thats paid on time.

I know a guy...pm me for more info

Al's Chop Shop · 10-28-2009, 02:00 PM

cut all the cards in half. you will say 'what if something happens'. it did, now look where it put you? you can stretch your dollar farther then you could ever imagine if you only had it to fall on, and not CC's to catch you.

i pay cash, and cash only. never had a credit card. i have very little debt, and its only in bank loans. banks love it, and my interest rate is half of a CC.

my wife has one CC. it magically ends up near the max of the balance, no matter what happens. i'm convinced we'd still survive if it wasn't there. a year ago we made a promised never to use it again. that's the only thing that keeps it off the limit.

Al

TubedYota · 10-28-2009, 02:23 PM

Quote:

Originally Posted by Al's Chop Shop

cut all the cards in half. you will say 'what if something happens'. it did, now look where it put you? you can stretch your dollar farther then you could ever imagine if you only had it to fall on, and not CC's to catch you.

i pay cash, and cash only. never had a credit card. i have very little debt, and its only in bank loans. banks love it, and my interest rate is half of a CC.

my wife has one CC. it magically ends up near the max of the balance, no matter what happens. i'm convinced we'd still survive if it wasn't there. a year ago we made a promised never to use it again. that's the only thing that keeps it off the limit.

Al

I would never be able to not use plastic.........I do a lot of work online that you'd need a card for. I had a problem when I was younger and have fixed it and figured out "hey don't do that again" It's better to have a cc and stay on top of your bills........If you pay it off before the end of the month you don't pay interest and just got a free loan.........you just need to learn what needs to go on a card and what doesn't belong on one, pay it off and don't go beyond your means.

malteserunner · 10-28-2009, 05:36 PM

Quote:

Originally Posted by TubedYota

don't go beyond your means.

This, in my opinion, is the best financial advice one can receive.

Windsor · 10-28-2009, 09:44 PM

There was a new breakthrough financial guru out there...

his slogan was "quit buying crap".

**Tofer** · 10-28-2009, 09:59 PM

"he" must never have owned a modified toyota or been to woot.com

SC4Runner · 10-29-2009, 08:09 AM

Didn't read what others said, but, I would try and find (hopefully) a card with low interest, or a card that has no interest rate for the first year on balance transfers. I got lucky one year and got a card that did this.

Windsor · 10-29-2009, 02:54 PM

Most ccard companies are keeping the APRs high and not offering much in "new account" discounts due to the upcoming regulations.

I agree completely with the "debt snowball" plan mentioned above. I was doing that until recently (now that I'm about to be jobless, sigh).

SC4Runner · 10-29-2009, 05:24 PM

WEll, that would be a problem... :/

bob200587 · 10-29-2009, 06:16 PM

Hell, I'd be willing to console you with regard to credit issues for free.

As far as the counseling services....They charge you like 6000 dollars to do what you can do yourself. And they pretty much tell you to stop paying so that the creditors will accept a settlement. Not good for your credit score...

Al's Chop Shop · 11-02-2009, 10:39 PM

Quote:

Originally Posted by TubedYota

I would never be able to not use plastic.........I do a lot of work online that you'd need a card for. I had a problem when I was younger and have fixed it and figured out "hey don't do that again" It's better to have a cc and stay on top of your bills........If you pay it off before the end of the month you don't pay interest and just got a free loan.........you just need to learn what needs to go on a card and what doesn't belong on one, pay it off and don't go beyond your means.

i buy stuff online all the time. its called a debit card with visa endorsement. as long as i have the funds in the account i can run it as a credit card.

again, the main idea is that i have the cash in the bank to pay for it. i've always seen it like this:

if you can't pay with cash, you don't need it right now.

obviously food would be something you still need when you are hungry, but IMO if you are running out of food its usually because you spent all your money first on something you didn't really have money for to begin with. enjoy your ramen noodles.

Al

stevrock · 11-03-2009, 04:24 PM

In 3 years I went from 0 debt to $22,000 back down to $400, and that is for school books which will be paid off when I gets ma grant monay. Purely strategic.
I am currently unemployed going to school. I'm bagging a lunch, taking the bus (Essentially saving gas since the bus is as expensive as parking... if you can find it), trying to not drive.

I suggest you pay off the lowest balance first. If you have an extra vehicle, sell it. Take insurance off them if they're parked. Buy meat in bulk and cut yourself. Waste nothing, a second use can be found for almost everything.
Pick up part time job, do odd jobs for parents/neighbours/anybody willing to give you cold, hard cash.

Nothing extra. Eat at home, get rid of cable (You can watch TV online, but then you'll have to keep the HSI) and high speed internet if you don't need it. Get into cards and board games.
When you pay off one thing, call the card company back and cancel the card. Be sure to let them know since they didn't give you what you wanted, you've gone somewhere else. They may try to keep you with a retention gimmick, and it may buy you a year at a low interest rate for balance transfers. Get these guys competing with each other, if they're that hard up for customers, they'll start to sway.
Just be sure to find out what that rate goes up to at the end of the introductory rate.

Do not consolidate your debt! The only good way to get out is to pay it off!

theAuthority · 11-03-2009, 04:34 PM

In reference to Debt Consolidation services are no good until you're in collection agencies.

By that time you're already screwed.

I get calls from Debt consolidation services almost never. But whenever I speak to the actualy Debtor they tell me they are using such service and should be contacted by then.

Here is how it works most of the time. You sign up for DCS and start paying them monthly. It accumulates until one of your bills can be paid off or settled. But first they take out their cut, which puts it back down to half of what you had, so you start accumulating again.

If they can't settle, the money just sits there until something can be paid.

In reference to medical debt, we will never settle. Credit cards will sometime settle at 40% depending on age. It will also stop you from getting future cards and tarnish your credit horribly.

don't waste the money on DCS that you could put towards paying off your own bills.

snowball method x 1 kagillion

Sources:I'm a Debt collector

10-27-2009, 08:46 PM	#2 (permalink)
malteserunner Contributing Member Join Date: Sep 2006 Location: Ca Posts: 520	If you use a credit counseling service it will reflect negatively on your credit report. It allows creditors to see that you weren't able to keep up with your credit obligations on your own. It's doesn't reflect quite as badly as bankruptcy, but it is not something to go into without exhausting all other options first. I would contact your credit card companies, and negotiate a payment plan with them. Tell them your situation, and ask them to lower your rates. They will often comply, because they are still getting money from you; if they don't help you out, you could file BK and they wouldn't get anything for your unsecured debt, this ending negatively for all parties involved. As far as structuring a payment plan, you should pick the card with the lowest balance owed and pay anything extra to that one card. Make minimum payments on all the rest. When you have the first card payed off, close the account and put all extra money into the next lowest balance. Eventually with discipline and perseverance, you will be free of credit card debt. You should stop any sort of wasteful spending as well as suspend any and all credit card transactions possible. Best of luck with your challenge. __________________ 87 4Runner, 22re, 5 spd, 4.88, ARB rear, Mile Marker PE8000, Downey Header, TG Sliders, 3" BL, Home Fab Front and Rear Bumper, WabFab Bikini Top, Rustoleum OD Green. Build Thread 98 Tacoma Prerunner, 2.7, 340k. 91 4Runner, V6. 5 speed, Pro Comp lift, 33's, Rock Crawlers. Sold. Parting Out- 97 T-100

10-27-2009, 08:53 PM	#3 (permalink)
olharleyman Contributing Member Join Date: Dec 2006 Location: maryland Posts: 3,291	My friends parents used cccs before they knew what was what it screwed them as bad as a bankruptcy just did not show up the same on credit report. Make no mistake what you pay them to do you can do yourself for free with some searching and studying and without the mark from them on your report friends dad said it shows up like a bankruptcy and does the same thing to your credit. They got out of cccs and did some research into combining all their cc debt into one payment without cccs and worked it all out on their own it took a couple years but they are now back to a 750 credit score and no one is the wiser about there hard times prior. I will see if they can get me the info on how they did it and pass it on to you __________________ 1990 4 runner 5 Speed Pro Comp Stage II 4" Lift 6" coils rear Aussie Locker front 5.29's Front And Rear 35 x 12.5 x 15 MT's Micky Thompson Classic II Wheels Super Charged 3.4 on the way 1993 SAS 4runner 22re 5 speed 4" front 5"rear 5.29's 35 x 12.5 BFG KM'S Dick cepek DC 1's 88 stock 4runner 3.0 auto for now 1955 Harley Davidson Springer Stock 1955 Hardtail Frame 4 Speed Kick Start Only 1998 Harley Custom Dresser 107 rwhp 139 ft.lbs.trq.

10-27-2009, 09:03 PM	#5 (permalink)
Tofer Super Moderator Staff Join Date: Jul 2004 Location: Tacoma WA. Posts: 6,913	thanks for the replys... I have contacted my credit card companies... tehy will not budge on APRs. thats what i was afraid of.. cccs will eff me just as hard as go BK but i still have to pay money.. __________________ 94 4runenr: all the good stuff....... 89 4runner: 3.0, Auto, 5.29 lockright f/r. 31x10.5 wildcountry ATs. 81 2wd pickup: 22R \| 5-sp \| long bed \|Civic SI seats \| LockRight \| Hella 500s pacific-crawlers.com For all your Trail-gear and HID lighting Solutions Needs check out yotaworks.com Online store coming soon :)

10-27-2009, 09:17 PM	#7 (permalink)
Tofer Super Moderator Staff Join Date: Jul 2004 Location: Tacoma WA. Posts: 6,913	exactly... i'm NOT behind on payment... i pay MORE than minimum.... i am just upto my eyes in debt. __________________ 94 4runenr: all the good stuff....... 89 4runner: 3.0, Auto, 5.29 lockright f/r. 31x10.5 wildcountry ATs. 81 2wd pickup: 22R \| 5-sp \| long bed \|Civic SI seats \| LockRight \| Hella 500s pacific-crawlers.com For all your Trail-gear and HID lighting Solutions Needs check out yotaworks.com Online store coming soon :)

10-28-2009, 01:19 AM	#8 (permalink)
203Cree Registered User Join Date: Jan 2009 Location: Olathe, KS Posts: 42	Stop paying extra on all of them. Pick the low balance card and pay all the extra on it while paying the minimum on the rest. Once you have the low balance card payed off, apply it's payments twards the next lowest balance card. It takes time, but that's the simplest way to pay it all down without over extending yourself. AND, not that I'm condoning it, but if you get one card freed up quickly you do have something to fall back on if something happens again. Right now you have nothing and won't have much to speak of until they're all paid for. Put a pencil to it and see where you end up. I've never had cc's, but my fiancee does and she got her butt in a sling. That's how we're taking care of it on her's and it's working out quite nicely. __________________ 85 4Runner DLX. Autotragic with some tires

10-27-2009, 09:01 PM	#4 (permalink)
TubedYota Registered User Join Date: Oct 2009 Location: North NJ Posts: 75	Just do it yourself. I had a problem with one and I'd suggest not to do it.

10-28-2009, 03:10 AM	#9 (permalink)
tmcorbin Registered User Join Date: Jul 2009 Location: Eastern NC Posts: 149	https://www.daveramsey.com My wife and I have been through this guys classes. But you can buy his book and do the same thing. So simple you wont believe it. The kind of stuff our parents should have taught us. Now we pay cash for everything. Still have a little bit of one card left to pay off, and we have slacked on that some, need get back on top of it. But anyway, Dave has helped so many out that it is crazy. 1st step is to sit down and write out a budget, give ever dollar a name, and from here on out use only cash. 2nd step is to pay the min on everthything until you have put away a $1000.00 emergency fund. 3rd step is to pick the creditor that you owe the least to, attack that amount with every available dime you have. When that is paid, close the account, then transfer all that to the next one. It is not a fast fix, and is painful, but with disapline several people that do not make a lot of money have paid off so much in a year that it will make you sit back and say wow. Paying cash is nice, when you have $20.00 in your wallet, it is harder to buy things with it than it is to just whip out the old plastic and buy it. Check it out. good luck. __________________ 85 4runner 22re, 170K, clean and straight. Still working through 20 years of scheduled maint. Future plans, engbldr street RV head, cam and OS valves, engbldr over haul kit, Marlin Crawler trany rebuild kit, T-case rebuild, 2" lift, interior, repaint. Currently 20mpg, Sound great, using 1qt of oil every two days.

10-28-2009, 05:38 AM	#11 (permalink)
leebee Contributing Member Join Date: May 2004 Location: marlbank, canada Posts: 2,450	all very good advice tofer, hard work and perserverence will pay off in the long run. once you get in the habit of saving, it doesnt take long for the $$$ to build up! good luck, you are not alone in this! lee __________________ 93 sr5 v6 auto, 4x4 Photos http://s866.photobucket.com/albums/a...albumview=grid there are quite some attractive ladies on here with Toys. (compliments of ironmike) ifsc 3(.0) http://tlca.org www.of4wd.com www.sontt.com

10-28-2009, 10:28 AM	#13 (permalink)
jrock Registered User Join Date: Dec 2005 Posts: 171	There is a difference between credit card counseling and debt consolidation/settlement. Debt consolidation is great if your already late on credit cards, so your not worried about a credit score, but need to settle for pennies on the dollar without going thru a b/k. debt settlement/consolidation comps set up an escrow account that a monthly payment goes to...once theres enough in there they start negotiated with your creditors for you. Credit card counseling pays back all debt plus interest over longer period of time. So debt settlement def. hurts your scores in short term but pays off debts quicker...cccs takes longer, wont hurt score as much-but creditors still see that u were in cccs and that reflects just as bad in there eyes...takes way more money. Id rather have my money/bad score, than no money/good score....then it only takes couple years to reestablish credit with a car loan....gas card etc., especially if you already have a mtg thats paid on time. I know a guy...pm me for more info __________________ "No arsenal, or no weapon in the arsenals of the world, is so formidable as the will and moral courage of free men and women." - Ronald Reagan 98 3.4L, 5spd., S/C, 370cc inj., engage LT Last edited by jrock; 10-28-2009 at 10:30 AM.

10-28-2009, 02:00 PM	#14 (permalink)
Al's Chop Shop Registered User Join Date: May 2008 Location: Portland, OR Posts: 609	cut all the cards in half. you will say 'what if something happens'. it did, now look where it put you? you can stretch your dollar farther then you could ever imagine if you only had it to fall on, and not CC's to catch you. i pay cash, and cash only. never had a credit card. i have very little debt, and its only in bank loans. banks love it, and my interest rate is half of a CC. my wife has one CC. it magically ends up near the max of the balance, no matter what happens. i'm convinced we'd still survive if it wasn't there. a year ago we made a promised never to use it again. that's the only thing that keeps it off the limit. Al __________________ 81 Toyota pickup 22r, 5spd, 4x4, longbed on 33's... custom suspension in the works. 79 Cherokee Chief Widetrack "Kronk" TBI350, SM465, NP205, Hydraulic clutch, Hydroboost, Custom aluminum radiator, Flowtech headers, SOA D44HD w/ Hi-steer, D60, 36" TSL/SX's, LED tail conversion... 91 Chevy K1500 - The Hauler TBI350, built 700r4, NP241, awaiting 4" lift... 90 XJ - 5.5" lift, 33's, bushwhacker cutouts, sliders, bumpers, winch... 08 Mazda CX9 - Zoom-Zoom!

10-28-2009, 09:44 PM	#17 (permalink)
Windsor Registered User Join Date: Dec 2008 Location: DFW, Texas! Posts: 794	There was a new breakthrough financial guru out there... his slogan was "quit buying crap". __________________ '87 T4R Deluxe, mall crawler every non-SR5 option installed (sans AT), as well as: * Cruise Control (dealer installed) * Michelin LTX A/T2 31s on 1st-gen alloy rims * SmittyBilt granny step bar * SR5 Instrument Cluster

10-28-2009, 09:59 PM	#18 (permalink)
Tofer Super Moderator Staff Join Date: Jul 2004 Location: Tacoma WA. Posts: 6,913	"he" must never have owned a modified toyota or been to woot.com __________________ 94 4runenr: all the good stuff....... 89 4runner: 3.0, Auto, 5.29 lockright f/r. 31x10.5 wildcountry ATs. 81 2wd pickup: 22R \| 5-sp \| long bed \|Civic SI seats \| LockRight \| Hella 500s pacific-crawlers.com For all your Trail-gear and HID lighting Solutions Needs check out yotaworks.com Online store coming soon :)

10-29-2009, 08:09 AM	#19 (permalink)
SC4Runner Contributing Member Join Date: Apr 2004 Location: 5th Gen San Diegan, California Posts: 5,895	Didn't read what others said, but, I would try and find (hopefully) a card with low interest, or a card that has no interest rate for the first year on balance transfers. I got lucky one year and got a card that did this. __________________ 1996 4x4 3.4L 4Runner on 35's - 6" of lift, MTR's, E-locked, ARB Tacoma Bumper, Sliders and a cut off tail pipe. 1966 FJ40 - SOA with stock springs, stock 1F motor, and a smelly tailpipe.

10-29-2009, 02:54 PM	#20 (permalink)
Windsor Registered User Join Date: Dec 2008 Location: DFW, Texas! Posts: 794	Most ccard companies are keeping the APRs high and not offering much in "new account" discounts due to the upcoming regulations. I agree completely with the "debt snowball" plan mentioned above. I was doing that until recently (now that I'm about to be jobless, sigh). __________________ '87 T4R Deluxe, mall crawler every non-SR5 option installed (sans AT), as well as: * Cruise Control (dealer installed) * Michelin LTX A/T2 31s on 1st-gen alloy rims * SmittyBilt granny step bar * SR5 Instrument Cluster

10-29-2009, 05:24 PM	#21 (permalink)
SC4Runner Contributing Member Join Date: Apr 2004 Location: 5th Gen San Diegan, California Posts: 5,895	WEll, that would be a problem... :/ __________________ 1996 4x4 3.4L 4Runner on 35's - 6" of lift, MTR's, E-locked, ARB Tacoma Bumper, Sliders and a cut off tail pipe. 1966 FJ40 - SOA with stock springs, stock 1F motor, and a smelly tailpipe.

10-29-2009, 06:16 PM	#22 (permalink)
bob200587 Contributing Member Join Date: Feb 2005 Location: Nashville, TN Posts: 2,853	Hell, I'd be willing to console you with regard to credit issues for free. As far as the counseling services....They charge you like 6000 dollars to do what you can do yourself. And they pretty much tell you to stop paying so that the creditors will accept a settlement. Not good for your credit score... __________________ 87 4runner 4x4 SR5 22RE ARB Bull Bar, 31X10.50 Mastercraft M/T's, Stock 4.10 Gears, Flowmaster Muffler, LCE Header AISIN Manual Hubs, Marlin Crawler Sliders 190XXX miles

11-03-2009, 04:34 PM	#25 (permalink)
theAuthority Registered User Join Date: Sep 2009 Location: Lynnwood, WA Posts: 1,664	In reference to Debt Consolidation services are no good until you're in collection agencies. By that time you're already screwed. I get calls from Debt consolidation services almost never. But whenever I speak to the actualy Debtor they tell me they are using such service and should be contacted by then. Here is how it works most of the time. You sign up for DCS and start paying them monthly. It accumulates until one of your bills can be paid off or settled. But first they take out their cut, which puts it back down to half of what you had, so you start accumulating again. If they can't settle, the money just sits there until something can be paid. In reference to medical debt, we will never settle. Credit cards will sometime settle at 40% depending on age. It will also stop you from getting future cards and tarnish your credit horribly. don't waste the money on DCS that you could put towards paying off your own bills. snowball method x 1 kagillion Sources:I'm a Debt collector __________________ Proud sponsor of the re-poster thread. Where there is Substance. http://www.yotatech.com/f5/you-re-poster-193103/

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