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debt consolidation

1,860 Views | 5 Replies | Last: 7 yr ago by The Original AG 76
kapon
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AG
how do i go about consolidating my debt so i don't have to pay outrageous interest payments to "many" different places?

I get these solicitations in the mail, but I am not sure how about the companies.

thanks for your suggestions.
Cyp0111
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Drop premium for one. If CC debt you should look at a loan from Marcus(Goldman Sachs) at a lower rate to consolidate your debts.
The Wonderer
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AG
Depends on how much outstanding principle you have.

If you have a 0% rate card promo for balance transfers, take the hit once (3-5%) and schedule repayments to terminate the debt before the higher standard APR kicks in.

If not available, look to a personal loan from a bank.
Dr. Horrible
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www.daveramsey.com
Long Live Sully
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AG
Try Lending Club

And then don't borrow any more except to buy a home.
TexasAggie_97
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AG
kapon said:

how do i go about consolidating my debt so i don't have to pay outrageous interest payments to "many" different places?

I get these solicitations in the mail, but I am not sure how about the companies.

thanks for your suggestions.

First thing you should do is cut up your credit cards. That will prevent you from buying anymore stuff that you cannot afford. Then you can try to get a debt consolidation loan or just start paying off what you have by attacking the smallest debt first. Get that one gone and then work on the next and so forth. You can also sale things to generate extra cash e.g. garage sale, stop eating out, giving up things you don't really need like cable, premium access to Texags, etc.

If you really want to pay off deft you have to get lean and mean on attacking the debt and yes Dave Ramsey can help you out if you really follow his advice.
The Original AG 76
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PLEASE be careful. So many shady outfits out there that will simply do EXACTLY what you can do in a few hours on your own phone but charge you to do it.
Dave Ramsey is perfect for folks that have gotten in a little ( or a lot) over their heads. It the financial version of tough love and it works. I have had family and friends use his methods with great long term success.
Remember you do NOT need some outside company to do everything you need to get out of this mess. Most are scams and unnecessary.
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