Debt Consolidation...

Question:
I'm thinking about going through one of those debt consolidation companies (Debt Free, etc...) in order to get the creditors of my back until we either file our BK or get our financial situtaiton under control. Does anyone have any experience with one of these, and if so what was it like? I'm wanting honest opinions, cause I would hate to throw more money down the drain.

Answer:
There was a post done a few days ago about dept. consolidation companies. I posted my experiences and so did others. You may want to look at those posts. But all I have to personally say is do as much homework about these companies as humanly possible, I really did and still had problems. Look for the posts. look under the subject "Do Debt management programs work?" on 2/12 I got a few good responses that gave me some insights into what could happen. When it comes to debt consolidation companies... become your own and save yourself the rip-offs and aggravation associated with them. They are in it for the buck and pray on people like you who are looking for outs from their situations. You can do just as good a job of negotiations with your creditors as they can, and for the most part they are willing to work with you once you show them your sincerity... if they don't want to work with you the consolidators are going to encounter the same stone wall... there is no magic when it comes to all this, you can only assume you best position and deal with them from that vantage point... Everyone I know who has ever used one of these companies has not had a good experience... I contacted one a year ago and without even knowing my situation they were proposing remedies which all included sending them a fixed amount of money each month to assist me consolidate my bills... I was inundated with phone calls from them for over two months!





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