How Should I Consolidate My Debt?

how should i consolidate my debt--or speficially my car payment debt?

As far as I know you cannot be able to consolidate your car note, but rather, set up a payment arrangement with your lender. In some states you have the right to cure the debt, and they should inform you as such.

I think one of the worst question that a consumer can ask is = how should i consolidate my debt - when I have nothing to consolidate it with?

I think one of the worst question that a consumer can ask is = how should i consolidate my debt - when I have nothing to consolidate it with?

I agree with you but I think that the creditors know that a lot of consumers are in that situation right now. I heard that most of them have a hardship program and I think I read somewhere that consumers wanting to show good faith--offer to pay as low as $10/mo. because that's the only amount they can afford and that some creditors would have none of it and so the account gets passed on to a collection agency.

I think one of the worst question that a consumer can ask is = how should i consolidate my debt - when I have nothing to consolidate it with?

I've read about that too. The consumer would then ask - what can I expect with the collection agency? - can I go to jail for not being able to pay my debt? what happens to me?

The answer to that is ..nobody really goes to jail for not being able to pay debt, unless it's mixed up with a crime (fraud, theft, robbery, etc.). The worst thing that could happen to a consumer is to receive a judgment. A judgment could be wage garnishment, bank levy, or property lien.

The consumer should not be alarmed though as it goes through a process. He/she would be given time to take action before a judgment gets handed down by the court.

I think one of the worst question that a consumer can ask is = how should i consolidate my debt - when I have nothing to consolidate it with?The consumer should not be alarmed though as it goes through a process. He/she would be given time to take action before a judgment gets handed down by the court...

But there is such a thing as a default judgment -in which the consumer for some reason did not receive any court notice and so the time expired and the consumer just finds out that his/her account is being levied or his/her salary being garnished.

If this is an honest error, the consumer can file a counter claim to it..I am just not too sure what.

The next question to ask is - how to fight a default judgment?