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Question: Debt consolidation or not?

I am having a hard time choosing between solution to my debt problem. i have around $8000 in credit card debts right now. All of them are in collection agencies now and I have no means in paying all of them and all are delinquent too. I’ve been thinking of doing a debt program. I’ve been looking around and have seen debt consolidation programs, debt settlement programs, consumer credit counseling, credit counseling agencies and debt management plan… and I have a feeling there are more I don’t know of. My question is which one would be the best option. By now I know my credit is bad and I have nothing to put into collateral. I’m not really comfortable in doing anything online because I want to see and talk to someone face to face. What are the fees involved in the programs? Do you have to pay them monthly too? I just need all the information I can get right now.

Answer: Debt consolidation programs usually leave you worse off than you were originally. My suggestion would be to call your creditors and ask them if they could get you onto a payment plan that will work for you. Also, pick the card with the lowest rate and ask them if you could consolidate all of your debt to their card with the agreement that you will close other cards. They may do this, and then you will only have to make 1 payment per month and deal with 1 company when you're having trouble making payments. If this isn't an option, try to make your minimum payments while any extra money goes to the card with the highest interest rate.

A look back at happenings in 2009

Jan. 8 Republican Mike Pusley is sworn into office as a member of the Nueces County Commissioners Court. Pusley's victory over Democratic incumbent Peggy Banales in the November 2008 General Election gave Republicans the majority on the Commissioners Court for the first time in Nueces County history.

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