Posted on
September 9, 2009
at
5:48 am
is their work different from debt negotiators? how do debt consolidators work and how do they get paid?
Posted on
September 9, 2009
at
5:56 am
How do debt consolidators work? You mean credit counselors?Well debt consolidation involves being in a debt management plan (DMP) and its main objective is to lower the interest rates of the consumer's credit cards so they can pay off the accounts faster.
Posted on
September 9, 2009
at
6:00 am
How do debt consolidators work?Okay a DMPs usually lasts for 5 years, as the consumer makes monthly payments to the credit counseling agency (which disperses the funds to each of the consumer's creditors) the debt consolidators (negotiators) haggles with the creditors with regards to the consumer's interest rates. The goal is to have them lowered.
Posted on
September 9, 2009
at
6:04 am
Another question to ask is..how do debt consolidators not work?Many creditors refuse to work with credit counseling agencies, as a result a lot of the consumers who enrolled in the DMP find themselves paying a monthly fee to the agency but it doesn't get the desired result.
Posted on
October 7, 2009
at
12:39 am
Another question to ask is - how much do debt consolidators charge for their work?
Posted on
October 7, 2009
at
1:00 am
how much do debt consolidators charge for their work? Credit counseling is non-profit but their Debt Management Plan would cost around $25/mo. after the one time set up fee.
Posted on
October 7, 2009
at
1:02 am
The drop out rate for DMP's is high. Instead of asking
how do debt consolidators work? Ask if there's another debt consolidation program that might work -
Posted on
October 7, 2009
at
1:22 am
Credit counseling is non-profit but their Debt Management Plan would cost around $25/mo. after the one time set up fee.
Posted on
October 7, 2009
at
1:43 am
"Instead of asking
how do debt consolidators work? Ask if there's another debt consolidation program that might work - "There is. Debt Settlement. If your debt is over $10,000 worth and your accounts are past due. Debt settlement would cost the consumer 15% of his/her total debt amount -spread over 18 months or they will take between 20-25% of the settlement amount.
Posted on
October 7, 2009
at
1:49 am
how do debt consolidators work? - if they are unable to solve the consumers debt problem, is filing bankruptcy possible?
