My DH and I have a problem with our credit cards. We've had the same amount of debt for the last 4 years now since we can only afford to pay the minimum. The APR's are at least 25% and higher. We don't know what to do??? We'll never get out of debt! I'm so upset about this. Does anyone know of a debt consolidation program out there that's legitimate and doesn't hurt your credit??? We don't own anything to use for colateral either. There just doesn't seem to be a way out! HELP!!!
MarcellaBella
Posted:
Member since
Re: Debt Consolidation programs...
My husband runs one if you want his number.. He'll be honest with you and tell you whether or not it's worth for you to do?
Let me know!!
violet
Posted:
Member since
Re: Debt Consolidation programs...
I had a great offer from Bank of America a couple weeks ago in mail to do that, but I figured against it because I'd be paying an amount each month for 5 years, and I know that I would just end up charging even more on my cards. So I'd be paying the debt consolidation monthly and then probably still be trying to pay off credit cards. At least having all the debt on my cards now and having a maximum keeps me from going as much more as I could.
SomedayBride
Posted:
Member since
Re: Debt Consolidation programs...
Do you still use the credit cards? If so, either cut them up, or freeze them in a block of ice in the freezer. If you keep charging you will never ever be able to get out of debt. Have you tried calling the companies? A lot of times, if you're good with payments and such, they will lower your APR, all you have to do is ask.
djkatscan
Posted:
Member since
Re: Debt Consolidation programs...
I am in the same boat! I have my credit cards locked in FI's safe...and I don't have the keys or the combo. I just tried to get a personal loan to pay them off and was denied. I have a credit score of 715 and a debt to income ratio of 16% and I can't for the life of me figure out whey I was denied. The reason was some BS one 'we do not grant credit to any persons under the terms and conditions specified'. The girl at the bank was dumbfounded, she never saw that reason, and does not want to try again till she figures out what that means. She does not want to lower my score applying again.
I would look into a personal loan though...w/ you and his credit scores combined it could be a good idea. You could pay it off at a lower intrest rate, and even afford to pay mor than the monthly payment get it paid off quicker!
