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Has anyone used Debt Consolidation??? Did it work out good, or was it bad or a scam???

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Asked by ethans_momma06 at 8:43 PM on Dec. 12, 2008 in Money & Work

Level 19 (6,870 Credits)
Answers (4)
  • You just have to be careful with what you get involved in. Read the fine lines. Debt consolidation is not exactly the best way to go about curing your debts. As it really is just a bandaid on the problem so to speak. What would be better is a debt repayment plan. There you are not allowed to incur any more debt, you are paying them a once a month payment and they in turn work with your creditors for you. My daughter uses Alliance. I used Consumer Credit Counseling, back in the day. They are excellent and it looks way better on your credit report. I think our program was like a two year payment program, and the best thing is you don't have any contact with your creditors, the agency does all that for you. Good luck.

    Answer by pupmom at 8:49 PM on Dec. 12, 2008

  • Look for a NON PROFIT one make sure they are registered with the BBB. Sometimes you can call your creditors and they can recommend a company for you.

    Answer by Anonymous at 8:50 PM on Dec. 12, 2008

  • We used a debt repayment plan and it worked out really well for us:)

    Answer by Anonymous at 8:50 PM on Dec. 12, 2008

  • I have been using Take Charge America for several years, my credit card company had recommended it. They are super friendly and have been working great for me!

    Answer by BrownBagLady at 4:15 PM on Dec. 17, 2008

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