Monthly Archives: November 2007

Is this the way that a debt consolidation company works? They reduce the amount?

Edward Scissor hands asked: What is a good debt consolidation company that will negotiate what you owe by negotiating with the creditor, and then you owe less than before to each creditor, but you owe them for one big new … Continue reading

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Do you have to be behind in paying to qualify for debt consolidation?

Sam asked: Also, can a revolving line of credit (it’s also a atm card) be included in a debt consolidation? And can I choose to leave out a loan or specific credit card where I have 0%?Debt Consolidation

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Is debt consolidation a good thing to do over bankruptcy?

Kevin B asked: A friend of mine is considering doing debt consolidation and I’ve heard that these types of businesses may be crooked. Can someone give me their honest opinion on if it is a good choice for someone with … Continue reading

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Should I consolidate my student loans before my 6 month grace period?

Josh F asked: I am now working full-time and although I’m not making a ton of money; would it be in the best interest of me to consolidate my loans and start paying them off now rather than later? Also, … Continue reading

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Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?

Heart asked: When you consolidate debt, it shows all old debts as being paid, etc, but the one new debt ratio, which is the amount being owed to the consolidation company will be huge. QUESTION: Does It lower the credit … Continue reading

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What are the advantages and disadvantages of debt consolidation?

jimmyaven asked: I have two credit cards that I have used over 5 years ago and never paid back. The total of the two cards FIVE YEARS AGO was $1000. Of course, by now, it should be close to $3000 … Continue reading

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Who would be the best company to consolidate my student loans?

Angela B asked: I only have $20,500 in student loans. I’ve heard some bad things about interest rates with Sallie Mae, while Nellnet will only consolidate if you have at lease $30K in loans. Any suggestions. I do believe that … Continue reading

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