Debt Help Services

Posts Tagged ‘Debt Consolidation’

Mike Morisset Mortgage Minute – Episode #2 What is a Mortgage Pre-Approval

Question: anyone know of good finance company to do debt consolidation?

I have been at my job over 5 yrs and i have app 20000-25000 in equity in my home, but my credit score is probably around 450 from where my husband was unemployed for few months now he is a sub contract tuck driver need to be able to breathe little easier scraping everything together not to be late anymore

Answer: Hello, Hopeful!!

From an equity standpoint you are in a good position. Yes, your credit score could use improving, but there are companies that work on your behalf to do just that. In regards to your question about debt consolidation, this is a good way to improve your debt situation.

Debt settlement and debt consolidation both offer ways of reducing your debt. Debt settlement eliminates your debt, while debt consolidation reduces interest rates. While debt consolidation might work for some, there are cases when debt settlement is a better option.

The goal of both debt settlement and debt consolidation is to lower your debt. Debt settlement companies negotiate with your creditors to reduce the amount of your loans. Debt settlement can reduce your debt 10% to 50%. To get the most out of the program, pay off the rest of your debt as soon as possible. Also, close accounts that you don’t plan on using to raise your credit score.

Debt consolidation pays off your high interest debts with a low interest loan. Home equity loans provide the lowest rates, but personal loans can also be used. With rates lower on your debt, you can pay off the principal sooner by making the same monthly payments.

Credit Score Implications

Both debt settlement and debt consolidation will have a slight impact on your credit score. Since your debt isn’t actually increasing, you will only be hit for opening another account. By closing your paid off accounts, you can partially offset the penalty. In a short period though, you will be in good credit standing if you remain fiscally responsible.

No one financial choice fits everyone’s needs. While debt consolidation might work for some, debt settlement might work better for others. In extreme cases, debt settlement can help to avoid bankruptcy. And if you need additional advice, talk to a credit counselor who can take a look at your finances and offer suggestions.

You can learn more with the resources below.

Good luck!!

Robert Moses, Master Builder, is Dead at 92

Robert Moses, who played a larger role in shaping the physical environment of New York State than any other figure in the 20th century, died early yesterday at West Islip, L.I. Mr. Moses, whose long list of public offices only begins to hint at his impact on both the city and state of New York, was 92 years old.

Large Financial Support Through Unemployed Loans While You Are Deprived From Job

Kindred Healthcare Estimates Revenue Effect of Proposed Medicare Part B Therapy Payment Reduction

LOUISVILLE, Ky.—-Kindred Healthcare, Inc. today provided its estimate of the revenue effect of proposed rate changes to Medicare Part B therapy services included in the proposed Medicare Physician Fee Schedule rule.

Steiden Law Offices – Bankruptcy Law Interview #1, Part 2

Question: In Serious Financial Problem…?

OK…the bank account is over $6000 overdrawn, I have other personal debt up to about $5,500….

I am leaving to start school in a week, I will only be able to work part time.

Does anybody know of a company that will give me a loan with payments under 100 dollars a month that I have a loooong time to pay back?

I have not been approved by anyone.

I will be posting on Prosper as well…. I am in a panic.

What should I do, I can’t afford consolidation places. They have all quoted me over 500 a month which I can’t afford.
I have found a few companies that will work with me, mostly ranging from 150-200 a month for the next 3-4 years…expensive but feasible….

Answer: It might be time to postpone school and instead get a full time job until you are back on your feet. How can you even afford school when you have a $6000 overdraft?

Factbox: Key quotes from G20 leaders ahead of the summit

President Barack Obama urged world leaders to follow his lead on regulatory reform on Friday before the G20 summit, while other countries touted their swifter progress in dealing with debt mountains that threaten the global recovery.

Debt quotes

Question: Is there a faster way out ?

We have a credit card debt management company who is helping reduce interest rates and all of that, but they say it’s a 4 year ride on the payment train. Anyone know of a faster way than debt consolidation.

Answer: Yes but you will not like it.
Both of you get 2nd and third jobs, turn off TV, work till you can’t and do it some more.
Debt management are BAD deals for you .
they often wreck your credit faster than you did. AND you will be treated as if you had filed bankruptcy should you try to get a mortgage – it is the rules.
visit DaveRamsey.com to learn what you haven’t and what the banks will not tell you.
Oh put your plastic slave cards in a metal can with gasoline and burn them it is fun.

DSGi 2009/10 Preliminary Results

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