Comments on: Debt consolidation question? http://www.schoolloanconsolidationsite.com/84/debt-consolidation-question/ Information about school loan consolidation and dealing with student debt Thu, 15 Dec 2011 05:31:59 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Student Loan Debt http://www.schoolloanconsolidationsite.com/84/debt-consolidation-question/comment-page-1/#comment-129 Student Loan Debt Mon, 25 Jan 2010 04:24:44 +0000 http://www.schoolloanconsolidationsite.com/blog/84/debt-consolidation-question/#comment-129 <a href="http://www.consolidatecreditdebtnow.com">Consolidation Credit Debt</a> With Debt Settlement or Debt Consolidation you can reduce or restructure your personal or business debt, or receive free help to decide which option is best for you, to ultimately achieve peace of mind. Consolidation Credit Debt

With Debt Settlement or Debt Consolidation you can reduce or restructure your personal or business debt, or receive free help to decide which option is best for you, to ultimately achieve peace of mind.

]]> By: Credit Debt Consolidation Loan http://www.schoolloanconsolidationsite.com/84/debt-consolidation-question/comment-page-1/#comment-128 Credit Debt Consolidation Loan Sun, 24 Jan 2010 09:29:47 +0000 http://www.schoolloanconsolidationsite.com/blog/84/debt-consolidation-question/#comment-128 <a href="http://www.schoolloanconsolidationsite.com">Student Debt Relief</a> STAY AWAY from "debt consolidation" company that promises to cut your debt in half through debt settlement....This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. You pay a monthly fee to a debt consolidator....this entire fee goes towards building a settlement account and to the consolidator's fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances...You can never predict how your creditors will respond to the deliberate defaulting of your accounts...they might settle at 50%...or they might serve you a summons, take you to court...and if they win, you could be looking at wage garnishment. None of these “debt consolidation” firms have the power to force your creditors to accept settlements. Your creditors have the right to refuse these terms and take you to court. A better option is entering a Debt Management Plan (DMP) with a non-profit credit counselor like CCCS (Consumer Credit Counseling Services). Contact your local Red Cross for a referral. They can negotiate lower payments and interest rates. They do not negotiate settlements. They will require you to stop using all credit and to cut up your cards. Your credit report will be updated to "enrolled in debt management." This does not damage your credit, but it may make it impossible to obtain new credit while you are enrolled in their program....so don't use this service if you anticipate applying for a new apartment, car loan or mortgage anytime soon, as you would probably be denied while you're enrolled in the CCCS debt management program.... Otherwise, it can be a very good way to deal with your debt. ============================ Complaints against Care One: Student Debt Relief

STAY AWAY from “debt consolidation” company that promises to cut your debt in half through debt settlement….This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. You pay a monthly fee to a debt consolidator….this entire fee goes towards building a settlement account and to the consolidator’s fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances…You can never predict how your creditors will respond to the deliberate defaulting of your accounts…they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment.

None of these “debt consolidation” firms have the power to force your creditors to accept settlements. Your creditors have the right to refuse these terms and take you to court.

A better option is entering a Debt Management Plan (DMP) with a non-profit credit counselor like CCCS (Consumer Credit Counseling Services). Contact your local Red Cross for a referral. They can negotiate lower payments and interest rates. They do not negotiate settlements.

They will require you to stop using all credit and to cut up your cards. Your credit report will be updated to “enrolled in debt management.” This does not damage your credit, but it may make it impossible to obtain new credit while you are enrolled in their program….so don’t use this service if you anticipate applying for a new apartment, car loan or mortgage anytime soon, as you would probably be denied while you’re enrolled in the CCCS debt management program…. Otherwise, it can be a very good way to deal with your debt.
============================
Complaints against Care One:

]]>