Debt consolidation or not?
I am having difficulty choosing between the solution to my debt problem. I have about $ 8,000 in debt credit card right now. All are in collection agencies and now have no means to pay for all and all are criminals too. I've been thinking make a program of debt. I've been watching and seen the debt consolidation programs, programs for payment of debt, credit counseling consumer the credit counseling agencies and plan of debt management … and I feel that there is more that I know of. My question is which one would be the best option. For now I know my credit is bad and I have nothing to give guarantees. I'm very happy about doing something online, because I want to see and talk to someone face to face. What are the fees involved in the programs? Do you have to pay them monthly as well? I just need all the information I can get right now.
Debt consolidation programs usually leave worse than they were originally. My suggestion would be to call your creditors and ask if I could get that a payment plan that works for you. Also, pick the card with the lowest rate and ask them if you can consolidate all your debts to your card with the agreement that will close other cards. They can do this, and then only have to make 1 payment per month and deal with 1 company when you're having trouble making payments. If this not an option, try to make minimum payments, while any money is spent on the card with the highest interest rate.