Question: Should I use a personal loan or debt management program to pay off my credit card debt?
I have about $25,000 of debt but can still pay monthly payments on time and have never missed a payment.
If I try to get a personal loan as opposed to a debt management program, which looks better to creditors?? My credit score is around 650-670. I am thinking of going to a non-profit credit counseling agency to see what they think.
I still have some stocks and bonds totaling $6,000. I do get paid consistently and have been trying some internet surveys to make some small money on the side to my job.
What things should I look for at the credit counseling agency?
Question: Entering into credit counseling with a debt management program or … ?
I am entering into a debt management program with a credit counseling company. I have about $17,500 in debt and my payment with the company would be about $400 a month.
My question is, would creditors be willing to accept 1/2 of the minimum balance that is due actually? I have 3 cards I’m in debt with, $285/month, $185/month, $165/month respectively.
I’m already 2 payments behind with 2 of the cards. Would the credit card companies accept a personal offer of 1/2 the usual minimum for a certain time frame? So I’d offer them $142.50, $92.50, $82.50.
Or since I’m already behind on payments should I stick with the debt management program (I just signed on and have to make my first payment on 2/28) and wait until I’ve been in the program a few months and then try to talk personally to my creditors and see what I can offer at that time??
Please advise. Thanks.
Question: Any advice on entering a debt management program?
I am considering entering a debt management programme because I am way over my head in credit card debt.
I know it may not be the best debt relief solution but it seems I keep putting it off, getting no where paying down my debt.
Does anyone have advice or comments?
Question: Is debt management program the right way to go?
We are drowning in debt. So far we have managed to get our MINIMUM monthly payments out each month but we are getting no where.
Would a debt management program be a good option for us?
What exactly is a debt management program or debt management plan? Where do I find a reliable debt management company or agency one to work with?
Question: Can I get a home equity loan while in a debt management program?
I just entered a debt management program to get control over my credit card debts. I have done this separate from my husband so that only my credit is affected.
Just after I entered into the program, my husband started showing interest in a home equity loan to consolidate his credit card debts and vehicle loans, and do home improvements.
In our marriage I am responsible for my own debts, but I am wondering if being in the DMP will affect the chances of us obtaining the home equity loan.
Serious educated replies will be very much appreciated.
Question: What happens if you get out of a debt management program?
I’m a 22 year old full time college student with a part time job.
About three months ago I joined a debt management program because I thought it would be easier for me to manage my credit card bills that way.
However now after joining, I’m realizing that I’m unable to keep up with the payments I’m making to them. It’s like after my other bills and this payment are taken out every month, I hardly have any money left and I think I’ve put myself in a bind.
If I leave the program now will this mess up my credit, will it make it harder for me to join a debt management program in the future, will my creditors be resistant to work things out with me in the future because of this?
I simply just can’t afford to be in the program now.
