What is the difference between debt settlement and debt relief? How does it affect ones credit report?
Question by rich_oldman: What is the difference between debt settlement and debt relief? How does it affect ones credit report?
Best answer:
Answer by calcdffirefighter
Debt settlement usually means you settle for less than what you actually owe (bad mark on credit)
Debt relief usually involves consolidating your payments into a single loan. (if reported on your credit it is also a bad mark)
Usually all fast fixes will leave some negativity on your report. Best to try to take out a single loan and pay off your smaller higher interest rate debts first. Or transfer high interest credit cards to lower interest credit cards. It would also be possible to find a private investor who will take over your debts (pay off your creditors) without reporting that it is another loan that is paying off the creditors.
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Q&A: can you reccomend a non-profit debt relief/financial advisor?
Question by : can you reccomend a non-profit debt relief/financial advisor?
Best answer:
Answer by PAUL D
You can do it yourself without help. BE CAREFUL, many of the debt advisers charge fees that you don’t need to pay and you just go further into debt.
See if you have Dave Ramsey on a local radio station near you and LISTEN. You can even call in and he will help your specific situation.
http://www.daveramsey.com/fpu/
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Does the government have a nonprofit agency for credit counseling?
Question by : Does the government have a nonprofit agency for credit counseling?
I would like to consolidate my personal loans, but I would like to work with a nonprofit agency for credit counseling.
Best answer:
Answer by Tigg
Then contact Catholic Charities. Phone No is in the white pages of your phone book or call a Catholic Church and they will give you a number. They set you up with credit counseling.
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Which company is best Incharge Debt Solution or consumer Credit Counseling?
Question by blkdude4u02a: Which company is best Incharge Debt Solution or consumer Credit Counseling?
Best answer:
Answer by execglenn
Careful – alot of these credit help companies are scum. For a good discussion of credit problems visit daveramsey.com
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Going to debt management/credit counseling. What are the best companies?
Question by MrsBossy: Going to debt management/credit counseling. What are the best companies?
I am going to go to a debt management program/credit counseling, it was the best alternative to avoid bankruptcy.
What are the best companies that charge a low fee and that can get the best lower monthly payment?
Best answer:
Answer by Derrick
Try to find a state funded one.
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Can you use a debt management company if you’ve already been through one?
Question by Raymond G: Can you use a debt management company if you’ve already been through one?
I am using a debt relief company and have fallen behind on payments. I’d like to try another solution
Best answer:
Answer by Debt Slayer
The best solution is to learn how to manage your finances correctly. Commit to spending less than you earn. Get on a strict, written budget and pay cash for everything. Sell some of your junk for extra cash. Save up an emergency fund ($ 1000 minimum) so that you won’t go deeper into debt when something unexpected happens.
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Q&A: How many people have used Consumer Credit Counseling and what did you think?
Question by redwolf470: How many people have used Consumer Credit Counseling and what did you think?
I am preparing an article on what people know about Consumer Credit Counseling. I was wondering what people know about it or think about it.
Best answer:
Answer by Dustie Rhodes USA
From news articles I’ve read about credit counseling, I believe this is the only reputable website for dealing with credit problems
http://www.debtadvice.org/
it is the National Foundation For Credit Counseling.
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Need recommendation for a legitimate pre-bankruptcy credit counseling service?
Question by JustMe: Need recommendation for a legitimate pre-bankruptcy credit counseling service?
I hear and read that there are a lot of scary companies out there looking to rip people off and make their situations even worse, including some of the so-called “non-profits.” Just need a company that will do straightforward credit counseling that meets the bankruptcy court’s pre-filing requirement. Thanks in advance.
Ideally, online.
And does not cost an arm and a leg.
Best answer:
Answer by S P
You can try greenpathbk.com That’s who I used, the usual fee is 50.00 for the first half and 50.00 for the last half after you have your 341 Creditors Meeting. You can do the credit counseling right over the phone.
Good Luck!
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What is the best method for consumer credit card debt relief?
Question by boxbeatle: What is the best method for consumer credit card debt relief?
We started a program with “Consumer Credit Counselors” This progarm has us pay the Consumer Credit Counselors, then they pay the credit cards every month. All they do is lower some of the interest rates. They don’t negotiate amount owed. The payments are too high for us, so we looked into other alternatives. We found one company that will do it differently for less. They have you pay into an escrow account, and they pay off each credit card individually. They say they negotiate lower balances and interest rates. The payment would be lower and the payoff time cut in half. Does anyone know of any reason we shouldn’t do this? Are there any other better ways? WHAT IS THE BEST WAY TO GET CONSUMER DEBT RELIEF with no loans?
Best answer:
Answer by mustlovemovies101
Ask them if it will affect your credit rating also. I know a couple who did it and they paid off their bills in about 3 years. Oh, and find out if they are a non profit agency. If so, you may be able to write off what you pay them to do this from your taxes.
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