Is debt consolidation the right way to go?
Written By: admin on August 11, 2009
2 Comments
I owe ,000 to credit cards. I am wondering if this amount is worth doing a debt consolidation for? Any suggestions?
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Depends upon your interest rate/your credit and your income.
If your interest rate is high and your credit stinks, then yes it makes sense. If not, it doesn’t because your credit takes a hit when you go to these people.
Can you afford the payments now? If your credit is excellent, then work on the highest interest rate balance first with any extra money. Also you can try to negotiate a lower rate and possibly do balance transfers to low interest rate cards.
I reckon it is.. i owed just under 50k dont question how then my marriage fell appart i went to a crowd called debt help (i seen there van on the side of the road) for my debt consolidation and it took my payments down from €1200 per month to €580..
for me it worked thats all i can say… i reckon there site is http://www.debtconsolidation.ie