unformed 0 #1 October 27, 2006 so i stopped paying my bills about a year ago as i was pretty much in the same state as the guy from office space. i used to send in a check every now to make them shut up. regardless, i finally decided to get a job and take care of stuff, only to realize i'm paying 30% apr on my cards. i'm not too concerned as i can pay all of it off in a few months without a problem, but .... can the debt cosnolidation people actually get me a better deal? has anyone ever actually used one of them?This ad space for sale. Quote Share this post Link to post Share on other sites
FireMedicJumper 0 #2 October 27, 2006 I used one for a bunch of credit card debt I had once. They got me a much better deal on interest rates, saved me a chunk of money, and stopped the phone calls. I think using them hurt my credit at the time, but it was pretty screwed up at that point anyway, so I felt I didn't have too much to lose. All in all I think it worked out pretty well for me and I'd probably have still made the same decision after going through it. Quote Share this post Link to post Share on other sites
gmittar 0 #3 October 27, 2006 It does fuck your credit. I'd just pay the shit off if you can, after all, you did incur the debt, and sign the contract that let them rape you. Call it stupid tax and be done with it. |>.<| Seriously, W.T.F. mate? Quote Share this post Link to post Share on other sites
tigra 0 #4 October 27, 2006 Your credit is probably pretty bad already, so maybe that isn't a concern. It is true that any chargeoffs or negotiated settlements will make it even worse. If you are still considering that route, you might want to try doing it yourself- that way you keep ALL the savings you negotiated instead of splitting it with them. Quote Share this post Link to post Share on other sites
Gawain 0 #5 October 27, 2006 If they haven't sent it to an outside collections agency, and you can offer a settlement, ask them what their terms would be (figure between 65-80% of principle). You'll incur an income tax as a result, but the debt will be gone. Your credit report will read as "paid settlement". Either way, your credit rating is probably screwed, but the debt will be gone.So I try and I scream and I beg and I sigh Just to prove I'm alive, and it's alright 'Cause tonight there's a way I'll make light of my treacherous life Make light! Quote Share this post Link to post Share on other sites
