Posted on
July 12, 2009
at
11:28 pm
Can anyone give me some comments about my questionWill I qualify for one of the credit card debt consolidation programs?Thanks in Advance ..
Posted on
March 8, 2010
at
3:16 am
Did you mean to ask - what are the qualifications ofdebt consolidation programs?
Posted on
March 8, 2010
at
3:41 am
A follow up question is what are the types of debt consolidation programs?
Posted on
March 8, 2010
at
5:57 am
Debt consolidation programs can be - credit counseling, debt consolidation loan,bankruptcy, debt settlement ..
Posted on
March 8, 2010
at
6:04 am
To answer your question - Will I qualify for one of the credit card debt consolidation programs?-if what you owe is below $10,000 - and you're struggling to pay the minimummonthly payment - you have a steady stream of income - you'd qualify fora credit counseling (Debt Management Plan). The program runs for 3- 5 years. Do not default on the payment though as they have to right to kick you out of the programwith or without positive results.
Posted on
March 8, 2010
at
6:07 am
Credit counseling DMP will cost you $25/mo. That's significantly lowerthan your regular monthly payment. As for credit, it would appear on yourreport for the duration of your program. Once it's over or you quit, - it wouldnot anymore appear on the report.
Posted on
March 8, 2010
at
6:10 am
As for debt consolidation - debt settlement program - it runs for 1 - 3 years. Debt settlement companies will charge15% of the total debt amount spread over 18 months or take apercentage of the settlement amount (20-25%)
Posted on
March 8, 2010
at
6:13 am
How to find a debt settlement company? --The settlement company's program must have a fast completion time. 12-36 months./-The program must be able to protect and improve the consumer's credit standing./-Must be a member of the Better Business Bureau, BBB, for at least 5 years./-Must also have a good standing with the Chamber of Commerce/-A Member of TASC - The Association Of Settlement Companies and the IAPDA or theInternational Association of Professional Debt Arbitrators