Debt Consolidation?

[azim]

Has anyone used any of these services that can put together all your bills into one monthly payment with a lesser interest rate? Do they bring down interest payments significantly? If so any ideas/reccomendations as to whom to get in touch with or which companies would be good to look at. Thanks all.

azim

 

[aphex]

I work for one

YGPM

 

[azim]

YHPM too. Thanks

azim

 

[NetworkDad]

I listen to a guy named Tom Martino on the radio frequently, assists consumers with any kind of financial problem. He recommends a company called debt consildators frequently. Check out his site.

-Jason

 

[azim]

Thanks Jason.

Anyone else use them...or have any experiences

azim

 

[dirtboy]

I don't work for one of those places, but I do know your credit rating will go way down after signing up for one of these deals.

 

[jaeger66]

Just be aware that the primary objective of these consolidation companies is to make sure the credit card company gets every cent you owe them. They're not really there to help you.

 

[aphex]

Originally posted by: jaeger66
Just be aware that the primary objective of these consolidation companies is to make sure the credit card company gets every cent you owe them. They're not really there to help you.

Not true. There are some who are out for that sole purpose, but not all.

 

[aphex]

Originally posted by: dirtboy
I don't work for one of those places, but I do know your credit rating will go way down after signing up for one of these deals.

It will have a negative effect on your rating, that im sure of. But after a little while your debt-to-income ratio will drop (significantly faster with the new lower interest rates) causing your rating to rebound. That being said, consolidation is not for everyone...