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Thinking about using one, and really need reviews from people who have...Please share your expirience!

Have you ever used debt consolidation?

  • yes, and we loved it

  • yes and it was awful * please explain why

  • tried but it was a scam

  • no never, or filed for bankruptcy

  • other please specify

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Submitted by at 8:25 PM on Dec. 12, 2008
Votes (114) Comments (7)

Have you ever used debt consolidation?

Take the poll to see moms who voted like you.
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Submitted by at 8:25 PM on Dec. 12, 2008
Votes (114) Comments (7)


  • BsWifey
    Submitted by   at 3:26 PM on December 13, 2008

    Never needed it and never would and as a former loan officer I highly recommend againist doing so becuase it CAN reflect poorly on you if you try to get a credit card or loan [depending on the bank/credit union's policy]. There are other things you can do.

  • Jakesmom11...
    Submitted by   at 3:48 PM on December 31, 2008

    Me and DH used CCCS when we first got married...we have paid off over $25,000 in 4 years and our credit is getting better. It worked for may not be for everyone.

  • sassy78
    Submitted by   at 5:56 PM on January 4, 2009

    We don't use credit cards and we bought a small home. If we want something we pay cash or save up for it. My home was paid for in 6 yrs. time.

  • allgirls
    Submitted by   at 1:45 PM on January 5, 2009

    I highly recommend the David Ramsy class. Debt places are a scam.

  • PtownStarf...
    Submitted by   at 1:31 PM on January 6, 2009

    I probably didn't do what you are talking about. We refinanced our mortgage and consolidated our other debts into the new mortgage. It made for a better interest rate on the other debts. I'm glad we did it.

  • BethLopez
    Submitted by   at 12:57 PM on January 7, 2009

    Debt Negotiation is better IMO, but really only as a last option. Never did it myself, but I did it for LOTS of other people.

  • julianjord...
    Submitted by   at 11:30 AM on February 23, 2009

    I tried a few years back. After everything was said and done they said their fee was at least 160$. I said, I thought it was free. they said it was through donations. Tell me, if someone is trying to consolidate their debts how they can afford another 160$. Donations are just that, donations. They stated it like it was a fee. That is wrong. All those places tag on their fee one way or another. You may not even notice until later. So ask them flat out what they are charging before signing anything.

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