Comments on: Consolidation Options For People With Poor Credit http://www.newhorizon.org/credit-info/consolidation-options-for-people-with-poor-credit/ Information to help you improve your credit Fri, 13 Jan 2012 21:51:41 +0000 hourly 1 http://wordpress.org/?v= By: AlexaJ. http://www.newhorizon.org/credit-info/consolidation-options-for-people-with-poor-credit/comment-page-1/#comment-147 AlexaJ. Thu, 01 Jan 1970 00:00:00 +0000 #comment-147 I am trying to decide to either call the credit card companies myself and negotiate for a lower payoff/settlement amount, or to use a debt consolidation company? If I negotiate with the credit cards directly, will that be considered a charge off? I would want to settle myself if I can to avoid paying all the months of high interest. But if I use debt consolidation, then they will charge me a fee every month for so many years? What is their purpose? What would be the best route to go financially? I am trying to decide to either call the credit card companies myself and negotiate for a lower payoff/settlement amount, or to use a debt consolidation company? If I negotiate with the credit cards directly, will that be considered a charge off? I would want to settle myself if I can to avoid paying all the months of high interest. But if I use debt consolidation, then they will charge me a fee every month for so many years? What is their purpose? What would be the best route to go financially?

]]> By: VicGamboa http://www.newhorizon.org/credit-info/consolidation-options-for-people-with-poor-credit/comment-page-1/#comment-160 VicGamboa Thu, 01 Jan 1970 00:00:00 +0000 #comment-160 Make a strict budget. Elimnate the extras -- cell phone, eating out, new clothes, premium cable and internet. Squeeze every penny out of that budget and slap it on your highest interest debt, while paying minimum on the rest. When the highest interest rate debt is paid, move to the next till they are all paid off. It will take 2 or 3 years but you will building a good credit history. Make a strict budget. Elimnate the extras — cell phone, eating out, new clothes, premium cable and internet. Squeeze every penny out of that budget and slap it on your highest interest debt, while paying minimum on the rest. When the highest interest rate debt is paid, move to the next till they are all paid off.

It will take 2 or 3 years but you will building a good credit history.

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