Is it bad to consolidate credit card debt through a debt consolidation company?

unsecured bad credit loan? im looking to consolidate some credit card debt? are there any places out there that can help me with a 12,000 loan? i would just rather have one payment than 4 or 5. i can handle the payments im trying to make it easier because i keep forgetting the 2 until the last minute? anyone know of any that will do it with a 600 credit score?

what is a good way to consolidate non-credit card debt? i have a very low credit score of 533. however, i have no credits cards outstanding. i had one credit card bill, but i paid it off about two years ago. everything that is on my credit now is generally small stuff--excepting my student loans--under a couple hundred dollars. i have mostly medical bills -- LOTS of stuff that got sent to collections for being unpaid. uninsured hospital visits, ambulance rides, laboratory tests, etc. i didn't have insurance for over 2 years. is using a debt consolidation company really a viable way to go? i have heard that simply using one reflects badly on your credit, but i really don't think my credit could get a whole lot worse. i have at probably one or two dozen negative things on my credit report, but not a single one is a credit card! you'd think that would make it easier to work with--at least i'm not being charged interest or late fees on any of these debts. but add it all up and it's a lot! any advice??

does consolidation of credit debt appears or has a bad effect on credit history? is there any way to consolidate credit card bills and past due debt without having any bad effect on credit history?

Is 13,000 in personal loans and credit card debt bad? I have accumulated 13k in credit card debt and personal loans. I want to get one personal loan to consolidate all the debt. I have about a 630 credit score. However, I can't seem to get a personal loan to take care of all that debt. What are my options?

Can you consolidate credit debt more than once? In the past, I have used a credit consolidation group to get rid of credit debt. Which worked... until I went and got a few more credit cards. Stupid, I know - BELIEVE me, I know. However, I know I am now really ready to end my cc use for good... I'm in a much better place financially and I just need to get rid of the debt so I can get on with my life. Will a consolidation group let me do this again? And, if so, would it look permanently bad on my credit that I did this twice? Or are there other things about doing this again that a consolidation group would likely not tell me? Please no lectures about credit cards - I realize all too well what I have gotten myself into. I just need the facts from someone who really knows what they are talking about. Thank you. :)

Does consolidating credit cards look bad on your credit report? I am REALLY bad with credit cards and have racked up about $16000.00 in debt on 3 cards and the payments are $615.00 a month. If I consolidate I can save about $300 a month but I dont want to do it if it puts a dent in my report because I have really good credit.

How can I deal with my credit card debt? I am about 17,000 in debt, much of that is fees and finance charges from the companies. I don't know what to do. I am only 22. I feel like I'm in way over my head and this is taking over my whole life. I don't care about having bad credit, but I would like to be able to buy a house someday. This just sucks completely. I would like to consolidate, but my credit score is 492, really, really bad. So I can't get any new loans. I don't know what to do.

Is there a credit card with low interest for bad credit for transfer balances of $10,000.00? I would like to consolidate all my debt onto one credit card but my credit is not that great. I have revolving balances, no available credit, and my payments are 3 months behind due to unemployment.

where can i get approved for a personal loan if i have bad credit...I want to consolidate credit cards.? I have a credit score of 570ish and I want to get an unsecured personal loan to consolidate my credit cards into one payment....what are my options if i dont want to use a debt consolidation or settlement company Are there any banks that anyone knows of that would approve me...i dont have a cosigner or a car or house to borrow against either.

I want to pay off my credit card debt. What are the best consolidation services I should use? I owe roughly $15,000 (between two cards). I was young and immature when it came to money and now I have to pay the price. I tried to get a new credit card to consolidate both balances but I was told in an application that my credit score was lowered by too many enquiries over a period of time (big bummer) so I can't get a new card. I almost went with Capitol One, thats how desperate I was. But alas I'm still stuck with these two high interest cards. They're college cards that I got when I was 18 (24 now). I tried to get the companies to lower the interest rate but they gave me a song and dance about the rates being on perma-set rate. So i need advice/help bad. :-(

Loans or credit cards? I have a big credit cards debt should I pay off with a loan? What is worst, having a credit card debt or a Loan?? Should i take a loan to consolidate my debts? would make a diference in my credit? I've checked and the interest is going to be a little higher on the loan than in the credit card. But not only I'm going to pay the debts with the loan but I also will get a extra amount of money to to be used in my wedding, so do you think that is still a good idea?

Am I better off to consolidate my credit cards to 1 low interest credit card? I have 4 credit cards. One of them has a $100 dollar balance because I have paid it way down. Discover has a $900 dollar balance and the other 2 have $1400 dollar balances each. I plan on paying the $100 dollar balance card off today, and I make $300 dollar payments on each of them every month. Will it increase my FICO to pay the balance off of 2 of the cards and combine them all on a balance transfer to my Citi Bank card, or will it make my score lower? I want to make a higher score, and have been slowly digging my self out of debt since a bad divorce. Currently, my fico is 218. My fico is 718, oops! I typed it wrong.

I need a loan to consolidate credit cards. (UK) i have been declined? I have some credit card debt I was to consolidate, I moved into my house 1 year ago (I co-own it but no equity at present) there were people at the address with very bad credit and I still recieve the odd bill 4 them now. I am looking for a loan of 6700 over 7 years as it will save me nearly 100 month. problem is I have been declined by my bank, there reason was that I got 2 bank charges recentely due 2 a credit card payment coming out earlier than I was expecting. I also applied to Nationwide as I seemed to fit their criteria but they have also said no. I have recentely applied for 3 credit cards as I was playing around with figures looking @ interest free options. 2 of these have been accepted 1 declined. the debt is currentely spread across 4 credit cards and 1 o/d. I have 1 other loan that has been running 4 a year which I want to leave as it is as it is low interst rate. I am a manager for a very well known company and earn 20k. (1200/month). Please give me some advice. thanks PS names of reputable companies that would lend to my credit profile on an unsecured personal loan at a reasonable interest rate. would be really helpful. Oh! and maybe I should have mentioned...I am not stupid and will not fall for a scam!! I don't believe any of the answers here are legitimate.....why on earth would a real lender have a gmail or yahoo address for a start, please any people reading this for info do not take any notice of the advice from anyone who has replied...they are all scams and I wish I never posted the question! anthonia - your response is the same as the 10 other scammers, giving a vauge yahoo email address!

Has anyone borrow from overseas money lender for credit card debt consolidation? Are they trustworthy? How can I solve my credit card problem? I owe about 50,000 sgd from credit card company. I have bad credit and the banks wants me to pay minimum payment that I cannot afford monthly, or else they will seize my properties. I used to pay about 1,600 monthly, but the debt grows every month due to late payment, lawyer charge, interest etc. How can I get out of this mess, I am planning to borrow from money lender to consolidate the debt and then pay montly at lower interest. Is there such organisation that lends money for debt consolidation in singapore? I have been in contact with overseas money lender that is willing to lend 50,000 at 5% interest PA but I have to pay initial charge at 800. Are they trustworthy? I can hardly make ends meet now. Please help...

I need to consolidate but have bad credit.? I have poor credit and about 12,000 of random debt I need to consolidate or lower interest rates. Credit Unions won't give me a loan to consolidate and credit cards won't let me open accounts to transfer balances. Any ideas?

Is there any bad credit loan institution in singapore? Where they can be so generous to lend you money to consolidate all your credit cards debts?? I am stuck in paying my bills every month.

Is there a credit card that I can get to consolidate 12,000 in unsecured debt? I need one bad.

I need help with Credit Debt and possiably consolidating.? I'm in a bit of credit card debt and i'm tired of having to keep up with three different cards and different payments and what not. I know some what of my options but i don't really know what they are all the way. I'm scared of getting screwed over, and i don't need to be any worse off then i am. What are some good places to go? i kind of want to just take out a loan and pay them off with that but i'm unsure if a bank will give me a loan. please help any way possiable! thanks

Can I get a debt consolidation loan with bad credit? I would like to get a debt consolidation loan for my outstanding debt from closed credit cards, old utility bills, etc I have student loans, but I would like to consolidate them separatley and not through another loan. Also, I have an auto loan, would the loan be able to cover that as well? Please, real answers, and no opinions/judgements. Thank You.

How do I pay my $2500 debt in credit cards? I currently am injured and cannot work, I am in college and I have a $2500 credit card debt, that is the total from all the 4 cards I need to pay off. I have very bad credit because I was paying these bills but got sick and injured. Now I want to get a loan and just pay it off and have one monthly bill, but where do I get this loan from with my bad credit, I tried prosper.com but got no bids? Someone please give me a solution. Should I consolidate the $2500 dollars or what?

does anybody know of a debt consolidation loan for people with bad credit? -- a for real one?? please help!? I have open credit cards and I am willing to close them to get a debt consolidation loan... but I've gotten behind/overlimit in a couple recently and want to consolidate to one payment. I'm starting to drown in debt and I need help... I do not want a credit counseling center; I just want to consolidate my debt to one payment.

Unsecured Personal Loan For Debt [current] Consolidation with previous bad credit....? Interested in consolidating about $6K of unsecured [non credit cards] debt into one loan plus approx $2K additional to obtain motor vehicle...excellent secured income [social security, pension and work income]. All direct deposit and would set for direct debit monthly payments on the loan. Know of sites like lending tree, prosper, unique, but interested in other lenders that would look into the loan specifics and the person and not just a credit score and abc's

Will closing a line of credit before it is paid look bad on my credit report? I have a line of credit through Bank of America. I was told it was a personal loan and the balance would go down each month. (I had consolidated 3 credit cards). I just found out it is technically called a line of credit and the interest is 23%! I am going to be applying for a mortgage soon and I know it looks like "potential debt" and that looks negative. But, is it worse to have the account closed and still be paying it off, or to pay it off then close it?

Will cancelling unused credit cards increase my credit score? I have several credit cards that I have not used in months. There is a 0 balance on the accounts. If I cancel them.. will this increase my credit score or make it worse? I also have a card that was recently issued to me with a credit limit significantly lower than what I expected. I have not used the card. Should I cancel it? Will this help or hurt me? Any advise on how to consolidate debt and increase my credit rating would be greatly appreciated.

My husband has bad credit, and I have excellent credit, can his bad credit affect me in anyway? Also he has a dirt bike and a truck he got them through the bank at a very high payment because he is trying to fix his credit, but I want him to get rid of the bike and trade the truck in for a cheaper car is there anything that can be done? Also is there anyway he can consolidate these debt such as his credit cards and get rid of the payment. The total debt for the crdit cards are about $3000 in total? Please help!

Will bad credit in the U.S. affect my credit in Canada? I have considerable U.S. credit card debt and I am considering using a U.S. company to consolidate the debt. I live in Canada and have my home and all other assets in Canada. Does anyone know if ruining my credit in the U.S. will affect my credit in Canada? Also, can anyone recommend a good U.S. debt consolidation company?

I make about $51, 000, I owe $31, 000 in credit card debt, $19,000 on my car and $5, 000 in student loans....? Should I file for bankruptcy? I am able to make minimum payments on my my bills, but that's all. I have my own apartment so there goes more of my money and I literally live from paycheck to paycheck. I am also a shopoholic. I have recently just started considering bankruptcy. Right now my credit score is not all that bad because my bills are not late. What would be the best move for me in your opinion? I am also not able to get a large personal loan to consolidate so that's out. By the way, I don't like the idea of thinking of filing for bankruptcy. I do look at it as an easy way out, but one of my friends is telling me it's the best thing for me to do in my situation. I do feel like it's getting off easy and I don't think it's fair.

Closing all credit card accounts..good or bad for credit? i recently got a job with a bank and they are offering me a good interest rate to take out a debt consolidation loan. I have balances on 5 cards I am consolidating. I have had these cards for years since college. I really do want to close out all these accounts after its paid off with the loan but will that hurt my credit? I dont use these cards anymore either, they have been sitting in my basement for a very long time! Also, is taking that loan a good idea? I am doing this because it saves me like $100 or more in interest a month and make it into one bill instead of 5 bills everymonth. As for the loan I plan to pay the whole thing off in a year if I can even though the term is for 4 yrs. Is it worth doing what I'm doing if I'm able to pay my entire debt in a year? I owe 10K and its pretty much maxed out my cc's.. My credit score is not bad but not great either and i intend to buy a house when all this is done. thank you for your time in reading and responding to this. I appreciate your advice. I'm trying to fix my financial mistakes and now I can offord to and really want to do it.

credit card debt? My aunt who is in the nursing home and in bad health, almost out of money and having to go on state aid in the very near future. She has 2 cards she had been paying the min. or less on, one isnt very delinquient and the other is with a collection agency, each car is around $3400.00...what are her options, she doesn't own a home, has a little money left in her checking account til the nursing home gets it all. Therefore she is unable to speak with them, i just got her cell phone a couple wks ago and i don't know what to tell them or should i just ignore them or what, she did make me P.O.A. Thanks, the sooner i can get a little help the better, Consolidating won't help cause her money will be gone within 6 months or less. I also should have mentioned, she is 80 years old and has no reason to need credit, i'll make sure if she goes into a nursing home, they don't have her contact info. Just worries me they might hound other family members who have nothing to do with her, etc... wish she had never gotten those cards but course her health wasn't bad then.

9000 worth CREDIT CARD DEBT....HELP!!!!? What should I do, consolidate, take out a loan to pay it off or just talk to them, I have been avoiding them for 2 months now . I am a struggling student who make very bad financial decisions

What should I do to increase my credit score? I just consolidated all of my wife and I's credit card debt into one lower payment. We have never been late on any payment but we had a bad 'credit to debt ratio' or something to that effect. My question is whether or not I should leave the credit cards open with zero balances or close them out completely. Let's assume I'm perfect and won't be tempted to use them too, I really despise debt.

Is it bad to take a loan out? hi i am thinking about getting a personal loan for about $15,000. I just want to consolidate some credit card debt that i accumulated. its nothing major just like $8,000. Do you think it is stupid to take a loan out. If i get a good intereste rate and probably like 4 years to pay it off.

Guaranteed Bad Credit Personal Loans? I have been ill for several years now. When I lost my job my daughter and I lost our medical insurance. So I have been using credit cards and falling seriously behond on all my bills creating a very negative credit report. Now that I am working again and have a good handle on my illness I am ready to wipe out all of my debt. I have created a budget drawn up with all of my debts on a spreadsheet and have figured out that what I need now is a loan to consolidate the debts. I have contacted all of my creditors and worked with them to negotiate the amounts owed, and I know the amounts I negotiated are lower than the amounts that a debt consolidation company would get for me. So I know that I do not need debt consolidation where your credit score gets lower and things get worse before they get better. We do not have family that can help us out so a high interest loan for people with bad credit is my only option. If you are only going to criticize me or tell me others ways to fix my situation I do not want to hear it.

I am in desperate need of a loan and I have horrible credit in the boston area? I am interested in obtaining a loan to pay off debt that I find myself sinking into. The problem is, I have horrible credit. I dont want it to get worse. I have a great job but I was recently hit in the stomach with a big expense which threw me for a loop. I would like to consolidate my credit cards and have one payment, which I could handle. Does anyone know of a legite site or offer any insight into what I can do?

How do I rebuild "HORRIBLE" credit? I have a lot of bad debt, unpaid bills, repossesion, and etc. I never really established my credit either. I had to cards but I maxed those out. I don't even have a bank account because I owe the bank...HELP! I want to get on the right track and consolidate my debt, but how do I re-build my credit when it's already bad and I keep getting Denials? I really want to re-build my credit and hopefull replace the negative debt. How do I increase my credit score? When I pay off something on my credit report does that make a difference?

How much impact does a Debt Management Program have on your credit? Some drastic changes have occurred in family’s income and I have to support two households (my own and my parents) for the time being. This means two mortgages and two set of utility bills. To help me manage this I am thinking of joining a DMP to reduce my monthly payment towards my unsecured credit. So far I have been on time on all my payments, but my credit score is lowering because I have had to put more debt in my credit cards. This is also causing a high debt to income ratio, making it hard to get a loan to consolidate my debt. Anyhow, when I was reading through the DMP material it said this might have a negative impact on my credit. My question is how bad of an impact this will have. Has anyone gone through a DMP? If so, how much did this affect your credit?

Consolidate debt? Can you consolidate debt if some credit cards are already in collections and if one is wanting to sue you? Does anyone know of a good company that can help me? Also a bad credit score should not matter right? Thank you!

Credit Rating - any thoughts - also do banks consolidate line of credit into a mortgage with the same bank? I did my Equifax score and it said that i was right at the risk point. That is because I have way too many credit avenues that i can use. They are all from past financing purchases. I have 1 bad remark from missing 1 30 day payment (which by all accounts was 40% my fault 60% the creditors. Anyway I have no other existing debt to any of the credit companys that I have used in the past. I want to get a new mortgage for a second house purchase and plan on terminatimg all but a line of credit $20000 and 1 Visa card with a $2500 limit. Other than the 1 missed 30 day payment, everything else is good. My spouse and I can easily make the payments on the new mortgage. Will that one missed payment affect us getting a mortgage. (her credit history is spotless) My credit score wasnt that great due to all the available credit i could use, but with all that terminated and only the line of credit and 1 visa card we are well within our financial means to make a new house purchase.

Bad Credit Cards? Does anyone know of any good credit card? I’ve had so many credit cards with high interested rates! I’ve found this site ( http://www.insightempire.com/badcredit.htm ) that’s helped me understand consolidating my debt, I didn’t even know about consolidating prior, “yea, I know it sounds silly, but when your spending money, you don’t think about terms like that”. So, my question is, does anyone know of any good credit cards?

Can I join the army with bad credit? Okay, so I defaulted on a credit card, a medical bill, and a couple other things a couple years ago like an idiot, not thinking I'd do anything like this... I'm only like 2500 in debt or so though. Can I still join? If not, does anyone know how I can get a loan to consolidate my debt?

Bad credit rating, but now I have a higher salary, Where can I borrow from? (in uk)? I ran up about £5000 credit card debt over 7 cards at uni while surviving on part time min wage jobs. I've now graduated and I'm earning £27K, only started this week though. I really need to get a loan to consolidate this because at the moment I keep missing payments as it's 7 different direct debits etc and the interest rate is killing me, it's as high as 41.9% apr on 1 card and the others are in mid 30s now. I want to borrow £5000 over 4 years and I won't have trouble paying about £150 a month. Any ideas? Most loan companies won't touch me because I've got bad credit and I applied for lots of loans already asking for 5k when I was only earning about 9 a year. Thanku :) And I know i'm an idiot for getting in debt in the first place, so please no answers to that effect! Ty Heidi but, Lol I'm not paying 64% apr on five grand! no higher than 15% otherwise I might as well keep the cards. Anyone know where I could get a credit card with a big limit? Thanks