Question by XoXoLuvMarie: debt consolidation or personal loan help ?
ok so i only have 2 credit cards ( these are the only ones i have ever owned) however both are in collection now. the one i owe about $ 1300 on and the other i owe i believe $ 1142 im so confused by the collection companies i feel like going through debt consolidation would be better for me so i can make just 1 payment.

so ive been looking online at different companies and all the ones i find look like scams, or cheap companies, does anyone recommend a trusting company? and also the fees that go along with it.

a friend told me she was advised to get a personal loan and pay off the credit cards and then she would just owe the loan, to me it sounds exactly like the debt consolidation service. has anyone else done this and is it different?

so 1. a debt consolidation service that is reliable and trusting with clear understanding of the fees
and 2. is a personal loan different? if so what company could i try to see if im approved?

Best answer:

Answer by Rapture
Have you ever looked at your credit card statement?
They have a number for consumer credit counseling.
Google: National Foundation for Credit counseling http://www.nfcc.org/
You call the 800 number and you make an appointment at a local office
They know what to do and can help you at no cost to you.
It’s worth a try
–
Making just one payment is an expensive price for a bit of convenience.
Some of these companies are outright scams
And personal loans are extremely hard to get unless you have top credit
Also google: How to negotiate a settlement with items in collections
Keep in mind, they don’t want payments, but they may settle for a lower amount in full
Also google: How to deal with collection agencies

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Tagged with: Consolidation • Debt • Help • Loan • personal

Filed under: Debt Consolidation Personal Loan

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