I was looking at where I started with all my debt and how far I have come. I wish that when I had decided to work on my debt I had taken a closer look at debt consolidation services.

While these may not work for everyone they certainly do give you some options that may not otherwise be available at the time you need them. I considered getting a loan from a bank that I dealt with on a regular basis but was denied. I did not have friends and family that I could borrow from, so using a service like this would have been one of my last resorts.

I was afraid of trying out for a debt consolidation service because I knew that they would pull my credit report and this would lower my credit score and make it harder for me to get that score up. I also thought that you had to have some major assets like a house in order to be able to qualify. With this new service you do not need to have a home in order to be considered for consolidation. Since there is no hard credit check there is no risk to your credit score being negatively impacted by using the service and they offer free financial planning that will allow you to negotiate lower monthly payments.

3 Comments:

  1. Sandy said...
    Too many people live beyond their meens. Buy things they don't need, when they can't afford it. Everyone seems to think they need the latest everything. When I was young (back in the dark ages), I had mis matched furniture; bought groceries with coupons, used the orginal seal a meal once food was cooked (which keeps one from throwing out food thats gone bad), cooked in not out, didn't take clothes to the cleaners, didn't drive a new car, didn't have shoes to match every outfit etc. etc.

    Today, it seems kids think they should drive a new expensive car that eats gas, live in high end condo, take elaborate vacations, buy all new furniture that matches, have Ipod's, new computers every couple of years, and cell phones every couple of months. Honestly, kids I work with seem to have a new one every time I turn around.

    I've been married 36 years, and the first sofa I bought is still in the house (in the basement; but I still have it).

    You've hit a topic that makes me crazy; but then you probably already guessed that.

    My husbands car is 14 years old, still in fine shape and going strong; mine was paid off about 6 months ago. We might look into getting a new one for him next year.

    Good luck with your debt.
    Try to figure out what is nice to have vs what is essential to have and trim your costs.

    It's Monday, have a great week, and do come by for a visit.
    Sandy

    maybe you can help me understand how this dropping card thing works. I just signed up yesterday and am still pretty clueless.
    ed said...
    Mike said...
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