Debt Consolidation

How to pay off credit cards enrolled in a debt management program?

I have been in a debt management program with a local credit counseling service for about 8 months. My parents have offered to co-sign a loan so I can pay off the cards. The loan with the bank is a lower interest rate than the cards and will pay them off faster with a lower payment each month. Should I pay the cards directly or go through the credit counseling service? Which is better for my credit score?

Tags: cards, credit counseling service, credit score, debt management program, interest rate, parents

how does the whole credit card consolidation process work?

i have\ about ,000 or more of credit card debts and i really want to pay it all but just can't so soon as am a single working mother with two kids… my credit rating is the lowest and all my cards have gone to collection agencies and attorneys have been calling and i can't answer i can't pay so much at one credit card alone and i want to have one low payment…i m scared cuz i heard you could go to jail and i m worried what would happen to my two little babies? i could go on and on about how crazily worried and sick i m from thinking about this every nite… but how do i go about the process and how long does it take please give me through information since i don't have much time to go here and there and research on my own i don't have much time and who ever gives me the complete information on how, how long, exactly how the process works will get the best answer! plz i really need help here thnx a lot for your responses. i no itz late but i want to work this out!
just before answering my question, please read it throughly. my situation is THE WORST RITE NOW….i havent paid my bills in ages, and they have gone to collection agencies…i want to work this out with them i want to know a solution!!!! consolidate…who where when how? non-profit….etc!
WHAT HAPPENS AFTER THE CRD CARD HAS BEEN GONE TO COLLECTION AGENCIES??? HOW CAN I WORK THAT OUT?

Tags: attorneys, cards, collection agencies, credit card debts, credit rating, little babies, working mother

Bank loan or debt consolidation program for credit card payoff?

Due to a family tragedy, my husband and I are currently in ,000 of credit card debt. All of the payments are current and the cards are paid on time with the accounts still open (we are not still charging, though). We are looking to seriously pay this down before the interest eats us alive. My husband wants to take out a bank loan and pay the cards off that way, but I am wondering about the debt consolidation programs you hear about (I know some of those are scams and some are real). Any advice or experience?

Tags: bank loan, cards, Credit Card Debt, debt consolidation programs, family tragedy, scams

What is the best way to payoff my credit card debt?

I currently have around 10,000.00 dollars of credit card debt on three different cards. I am paying 29.99% on two of them, and 22.99% on the other one.

I have tried to get a card with a better rate to transfer my balances to, but the issuers won't give me one because I am using so much of my available credit now. I have not had any late payments on my credit accounts, tho.

Should I try to get a home equity loan to pay off the cards, or is that a bad idea, too?

I know that I got myself in this situation, and I am wholly responsible. I do not feel right about declaring bankruptcy, but really want to get out of debt somehow.

If I am unable to get a lower rate, then I don't see a way to rid myself of the debt. Any advice?

Tags: bad idea, cards, credit accounts, Credit Card Debt, declaring bankruptcy, home equity loan, issuers, late payments, tho

Consolidating debt through consumer credit counseling services? Info needed.?

I have approximately 00 of credit card debt that I absolutely need to get paid down. i talked to consumer credit counseling services, a debt consolidation company, http://www.cccsstl.org/ and this is what i was told:

Basically they would cut my payments down to about 0 a month total for 3 cards by getting my interest rates lowered to between 6 and 10% approximately. I would pay it off in 2 years instead of 8 as i would now without consolidating. he said the 0 a month payment included a monthly fee of directly to the credit counseling service for their help and services. Is that the normal thing when consolidating? Is that legitamet? I would only be paying or so a month on the actual credit card debt and that doesn't seem like very much to me.

Anyone have any knowledge in this area? Is consolidating a smart thing to do and does it hurt your credit in any way? Is there a smarter way to do it?

LONG-sorry and thanks!

Tags: cards, consumer credit counseling, consumer credit counseling services, Credit Card Debt, credit counseling service, credit counseling services, debt consolidation company, interest rates