Creditor » All about Finance and Insurance

Attn: Debt Consolidation Participants.Past and Present?

I have been enrolled in a debt consolidation program for about 3 years and have about one more year to go.

My question is on my credit report for each creditor that I have enrolled in the program it reads “payments managed thru a consumer counseling agency” (something along those lines) how long after I have finished the program will this notation remain on my report? Also how long after the program will I be able to get credit again?

FYI I do not need to know how a debt consolidation program works…as I said I have been in it for 3 yrs

Read the rest of this entry »

Can a creditor “attach” your life insurance policy to an outstanding debt if you die before it’s paid off ?

I recently consolidated my debt, and was asked repeatedly about my life insurance. Naturally, I’m curious as to whether my creditors can collect on my benefit payoff if I should die before the debt is repaid.

Has anyone used a consolidation plan to reduce credit rate and debt?

My debt isn’t at all anything bad. I believe I may owe close to $2500 in debt and I want get in touch with a creditor to make payments. Is that amount too low? How does it work? Will they make my debt lower?
thanks!

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

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 loan , to them for paying your debts?
So they are getting your debts down by negotiating and then give you a consolidation loan to cover the amount owed to them now?

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

Have you ever heard of debt management (not debt consolidation) and if so, do you think it is beneficial? Why?

I make about $55,000/year and I currently owe approx. $34,000 in credit debt alone. That’s not including my car and student loans plus I still have rent to pay etc. I do not want to file bankruptcy if I don’t have to. I also would like to stay away from consolidation. My credit is average considering I have a high debt to income ratio, but I pay my bills on time.
Today, I was told by a company that they have something called debt management. I’ve never heard of that, but they said unlike debt consolidation where they lower both your interest rate AND balance, all debt management does is get the creditor to lower the interest rate. I would pay a monthly payment to the company and a monthly fee and they would make my payment for me.
At this point, I can only make minimum payments and my balance is going nowhere…Should I give debt management a try?
What are your thoughts and please state why or why not. They said this will not negatively affect my credit score.

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

A 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 loan , to them for paying your debts?
So they are getting your debts down by negotiating and then give you a consolidation loan to cover the amount owed to them now?

In the eyes of a creditor how does debt consolidation on a credit report?

How does it look

Does debt consolidation cancel your bills?

A finance company gave me checks to pay off my credit cards. The checks said pay off and the amount owed. I checked one creditor online to see if it had gotten there yet and it had been paid just over the amount due as I had sent a payment just before. but it also had an amount due. Due I need to cancel this card myself? should I? or should i leave it and try to use it to get my credit score better?

M	T	W	T	F	S	S
« May
						1
2	3	4	5	6	7	8
9	10	11	12	13	14	15
16	17	18	19	20	21	22
23	24	25	26	27	28	29
30	31

All about Finance and Insurance

Finance Insurance Loan source link

Attn: Debt Consolidation Participants.Past and Present?

Can a creditor “attach” your life insurance policy to an outstanding debt if you die before it’s paid off ?

Has anyone used a consolidation plan to reduce credit rate and debt?

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

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

Have you ever heard of debt management (not debt consolidation) and if so, do you think it is beneficial? Why?

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

In the eyes of a creditor how does debt consolidation on a credit report?

Does debt consolidation cancel your bills?

Blogroll

Categories

Archives

Link