Anyone ever do a debt consolidation? Which service did you use?

Any problems, suggestions or complaints?
Answers:
So-called "debt consolidation" ends up costing you more than if you paid off the debts individually yourself, because the consolidator tack on a substantial fee for providing this highly questionable "service."
I do not recommend debt consolidation. If you get into credit card trouble it's because of your habits. Personal Finance is 80% habit 20% knowhow. I'd recommend you write a budget and control where your money goes. Check out DaveRamsey.com for how to workout this out on your own. These services charge a levy on top of the interest payment to the card company which you can negotiate yourself. My wife did this until that time we met and got into more trouble because they told her a lower minimum monthly payment consequently what the card company wanted!

All hard work brings a profit, but mere discuss leads only to
poverty.

Proverbs 14:23, New International Version Source(s): Bible, BA Accounting, Life, Wife, Dave Ramsey.com, Yahoo Personal Fianance

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