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This is OT, but I am a regular sn board poster. I'm in deep debt. Does anyone know what debt consolidation is?
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I am going to look for not for profit. Will it mean I can't buy a house or does it mean I can't use credit cards again?
[ Reply | Options ]you will have a hard time getting a mortgage- esp. in this market. how bad is the debt? can you pay it off alone?
[ Reply | Options ]NP: Nonprofit doesn't always mean that they have your best interest in mind. Be cautious. http://www.usatoday.com/money/perfi/columnist/block/2003-10-20-credit_x.htm
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they consolidate all of your debts to one payment I believe. They also put you on a plan to get out of the debt & on track
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you'll have to close those accounts, may have trouble opening new ones, trouble getting a mortgage or car loan
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you don't have control of your money but really, you don't have control now anyway. they negotiate, supposedly, with cc companies to get a lower rate. they profit from you despite the non-pofit status. research it. i took a loan on my 401k to get out of ebt, paid myself 4% interest. my cc interest was 25% - 30% at the time. worked for me.
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We used a good non profit - I think it was called Garden State. I'll try to find the URL.
[ Reply | Options ]Here it is (URL inside): Garden State Consumer Credit Counseling r/0 http://www.novadebt.org/ You can call them with your credit card statements in front of you, and in that call they can let you know how long it will take to pay off the debt. They were very helpful for us. Good luck!
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UrbanBaby Asks...
When I ride in a taxi cab with my DC I:
- Use a carseat
- Buckle him/her in his/her own seat
- Hold him/her on my lap
- I'd never ride in a taxi with my DC, it's much too dangerous!
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