Posted on: 17th Sep, 2007 04:37 pm
large credit card debt with extreme interest rates, what are my best options?
Hi Joe,
Welcome to the forum.
When you have large debts, you can go for debt consolidation program. A debt consolidation program will consolidate all your debts into a single debt and thus it will reduce your burden of payments. I know of a company called Debt Consolidation Care who carries out such program.
Welcome to the forum.
When you have large debts, you can go for debt consolidation program. A debt consolidation program will consolidate all your debts into a single debt and thus it will reduce your burden of payments. I know of a company called Debt Consolidation Care who carries out such program.
Hi Joe,
I feel you should first try to pay off the high interest debts and then the low interest rate cards. You may also seek the advice of a credit counseling agency or a financial advisor. The counselor or the advisor will prepare a budget for you keeping in mind your financial situation and the maximum you can afford in each category of expenses. if you can follow such a plan in a disciplined way, then I guess you will be able to redce your debt burden. Alternatively, you can go for debt consolidation or debt settlement options.
Take Care
I feel you should first try to pay off the high interest debts and then the low interest rate cards. You may also seek the advice of a credit counseling agency or a financial advisor. The counselor or the advisor will prepare a budget for you keeping in mind your financial situation and the maximum you can afford in each category of expenses. if you can follow such a plan in a disciplined way, then I guess you will be able to redce your debt burden. Alternatively, you can go for debt consolidation or debt settlement options.
Take Care
Your best bet is to try and payoff what you can on your own. If you have the means to anyways. Be cautious when reading ads about debt relief.
Yup be careful about advertisements which are often made to attract people in debt. But debtconsolidationcare is a big community and a good one always trying to help people in debt. No probs with that. One of my friends did get relief by taking their help.
Beware of debt CON solidation thats right. You could do the same thing yourself. You're also going to take a credit hit on your credit file.
Consumer Credit Counseling a non profit org is aboout the only one I would recomend however this is also very bad for your credit report.
Consumer Credit Counseling a non profit org is aboout the only one I would recomend however this is also very bad for your credit report.