Posted on May 7, 2010 at 5:09 am Hello, where can I find the best companies to consolidate my credit card debt and how? thanks!

Posted on May 7, 2010 at 5:11 am Hi there, I wonder what you mean by consolidate credit card debt... did you mean debt settlement or credit counseling? If it's credit counseling, you can go here http://www.justice.gov/ust/eo/bapcpa/ccde/cc_approved.htm and make a list, call them one by one, and then decide which one will cater to your needs the best.

Posted on May 7, 2010 at 6:37 am Oh thanks! I guess I won't go wrong with a government approved agency, but how do I choose? How do I know which one's the best for me?

Posted on May 7, 2010 at 6:39 am where can to find the best companies to consolidate credit card debt and how? -- This is according to the Better Business Bureau-BBB,:-Before you select a credit counseling agency ask for information on the following: :::-Are the agency services confidential? :::-Will they devise a plan tailored to fit your needs? :::-Are the counselors certified? :::-Are budget and credit education opportunities offered? :::-Will your funds be protected? How? :::-Is the agency accredited? :::-Aside from BBB membership (www.bbb.org) the consumer should also check its affiliation with the National Foundation for Credit Counseling  http://www.nfcc.org.

Posted on May 7, 2010 at 6:42 am Hi, I don't mean to pry, but how much is it that you owe? Because aside from credit counseling,  consolidate credit card debt, can also mean debt settlement. Unlike debt consolidation (credit counseling) which negotiates your interest rates and takes longer to finish, debt settlement negotiates your entire balance, and will help you be debt free in three years or even less.

Posted on May 7, 2010 at 7:11 am I owe more than $20k in credit card debt and they have different interest rates. It's good that you mentioned debt settlement because now I'm interested. I'd rather have my whole balance negotiated than just my interest rates. My question is, how much is debt settlement going to cost, and what happens to my credit? You said less than 3 years to finish... it sounds like a line, how do I know that that's even possible? Sorry to be skeptical but I really like the sound of being debt free finally in less than three years.

Posted on May 7, 2010 at 7:12 am What is the status of your account? Are you past due or almost? It's easier to realize the dream of being debt free in less than three years, when you are past due by 5-6  months (the time that creditors are obligated to write your debt off) than when you're still current. Truth is, creditors won't settle for less than the full amount if you can pay the montly anyway, not unless you have 75% of your balance ready to hand to them. If you enroll in a settlement program, and you're still current, the company might ask you to stop payment altogether, because the goal is - for your account to be passed on to a third party collection agency, which is more open to settlement. A settlement percentage of 30-70%, a big difference from 75%

Posted on May 7, 2010 at 7:22 am I agree, and how would you know that it's possible? Simply ask the company for sample settlement letters - like these http://www.debtfreedestiny.com/category/sample-letters/

Posted on May 7, 2010 at 7:25 am Right, and to add to that, when the debt settlement company sends you sample settlement letters, make sure that its from your creditor (banks), so you'd see how they've settled an account just like yours. Also, pay attention to their settlement percentage claim. If they say they can settle for 40$ and then the sample letters say they've been settling for 50-70%, maybe it's time for you to find another debt settlement company.