Credit Consolidation

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MeloTrauma

MeloTrauma

Sicc OG
#1
Apr 25, 2002
4,992
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#1
Has anyone done this? Wheres a good place to call? I hate the fact that I owe 13 different agencies, Im always missing a payment or late on em just because its hard to keep track of so many. When you consolidate does it fuck up your credit? I should of never got a fuckin credit card to begin with.
 
Dana Dane

Dana Dane

RIP Vallejo Kid
#2
May 3, 2002
26,982
11,624
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#2
The best thing to do is transfer as many of your balances on to one or two (3 at the most) cards, and pay them regularly. Them Consumer Credit agencies CAN fuck you up, and a lot of places won't fuck with you on buying a house until you have been out of it longer than you have a bankruptcy.
 
mustynutz

mustynutz

Sicc OG
#3
Jun 27, 2002
14,470
135
63
#3
been hearin commercials for Genesis financial 800 981 7592, had the number on my desk for awhile now and never called....we in the same boat melo...

im planning on faking my death and gettin a new ssn...but i gotta break into the morgue and steal a body that looks like me and its harder then i thought
 
JoMoDo

JoMoDo

Sicc OG
#4
Jul 10, 2002
2,180
18
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#4
Da6Footah said:
The best thing to do is transfer as many of your balances on to one or two (3 at the most) cards, and pay them regularly. Them Consumer Credit agencies CAN fuck you up, and a lot of places won't fuck with you on buying a house until you have been out of it longer than you have a bankruptcy.
Click to expand...

Yup. Also, a little know credit hint, as soon as your balance goes over 40-45% of the credit limit, it will start to have an adverse impact on your credit rating. However, it is better to have high balances and have everything paid on time, rather that 13 low balances and missing payments.

Also, keep in mind, in terms of your credit rating, it is not considered a 'LATE' payment unless you are over 30 days late, or completely miss a payment for that billing cycle. Sending it in on the 18th, when its due the 15th won't mark your credit. However, you will most likely incur a finance charge (prolly 22-45$ depending on your carrier) and loose any promotional deals you may have, not only on that card, but all cards.

They way I organize my consumer debt goes as so, maybe it'll be helpful for you..

Designate a drawer or something where you will place all your monthly bills as soon as they arrive in the mail.

Now, when you open up the statement, before you look at the balance, look at the due date.

Write that due date on the outside of the envelope.

Go to a calender, and look the day of the week the bill is due. Now from that date, go back and count 5 business days

This will be the date you are to write the check and send the bill in.

Write this on the outside of the envelope as well, Directly above the due date. (i.e. if the due date is dec 30th I put on the outside of the envelope on the bill...

SEND 12/23

DUE 12/30

Place all of your bills in order, and look in the drawer daily to make sure you don't miss a payment.

This is how I take care of my bills and I've yet to have a late...

You can also set up a direct deposit, but I don't like those finacial institutions having access to MY CASH.
You may also want to explore setting up an unsecured personal line of credit from your Bank or a Credit Union. T
Or, if you have some real estate, throw me a holla, and I'll see if there is any debt consolidation I can help you wit...

Anyway, hope this was informative!
 
Dana Dane

Dana Dane

RIP Vallejo Kid
#6
May 3, 2002
26,982
11,624
113
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#6
Most of the companies do not require you to be a homeowner. You should think long and hard before messin with one, though. Credit Couseling Services should be the last alternative before bankruptcy.
 
A

All 4 the Bay

Sicc OG
#7
Apr 5, 2005
4,271
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#7
If you have a mortgage loan you can consolidate all you credit card debt and bills through that. All you need to do is refinance! That's the easiest way to eliminate your debt. Other than that I really don't know how
 
Rasan

Rasan

Producer
#8
May 17, 2002
19,730
24,632
113
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Chula Vista, South Bay, San Diego, California
#8
13 agencies? DAMN!
have you considered bankruptcy?
i used to be a bill collector...
credit consolidation companies are a gamble, i've heard some horror stories.
but ask yourself, is it possible to pay ALL your debt in a decent amount of time?
if not bankruptcy may be your last recourse
 
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