Debt Consolidation - Georgetown,TX

Read "Total Money Makeover" by Dave Ramsey. He talks about how to clear debts quickly by paying them off. he has a lot of good insight and good ideas.

M.:

DO NOT use a debt consolidation company!!

If you are going to refi your home - use the equity - if any and bundle it together - DO NOT USE a debt consolidation company - you will pay them to pay your bills!! they will do even more damage than not paying your bills yourself!!

Only time will clear your credit if the items listed on your credit are legit. If they aren't YOU can clear them up yourself. don't buy into the "fast and easy" as they are basically scamming you. Sucks that there are companies like that - but seriously - do it yourself. Pull your credit report - if there are errors - get them corrected yourself - do NOT pay someone else to do it.

Talk to your mortgage lender - find out what you need to do in order to consolidate your debt with your mortgage - it's possible. Credit restrictions are higher standards than they used to be - but it's possible.

Now, the hard part is NOT getting yourself back in this boat again. That takes self control and time. Learn from your mistakes. If you can't afford it - don't buy it. If you can't pay cash for it - you don't "NEED" it. use coupons when you go grocery shopping - plan your meals for the week and buy off what you have in your pantry/shelves and what you need. NO IMPULSE buying.

We are a cash only family - it took us 2 years to pay off our debt - which we did via a HELOC - (home equity line of credit) and it paid it off early - we were committed to it. It wasn't easy and still to this day - 4 years later, I miss credit cards - I miss the easy swipe!! But I don't miss the hassle!!!

Sorry, I can't answer your question, but I was just wondering if you've ever heard of Dave Ramsey? I can't even tell you what an enormous difference he's made in our lives. We had nearly 25,000 in credit card debt, and we were totally stressed out (especially my husband). We're getting them payed down now.
I highly recommend getting The Total Money Makeover. We got the audio version because neither one of us really has the time to read. My husband has a half-hour commute to and from work, so he would listen to it in the car. I was able to listen while folding laundry or cooking.

He also has a great radio show that you can listen to on his website for free- both live and archived material.

http://www.daveramsey.com/home/

Hope this is helpful. Good luck :)

We used Family Means Consumer Credit Counseling. We started with 12000.00 on credit cards and after 2 years we will have it paid off (in like 2 more months!) They are awesome and I highly recommend them. They charge a monthly fee but its totally worth it. http://www.familymeans.org/

DON'T DO IT! Almost always a bad idea. It will NOT "clear your credit" and may end up showing as a bankruptcy. And don't fall for the "non-profit" ad tactic--believe me SOMEONE is making a profit and it's NOT you.

Get into a Dave Ramsay book--you can clean this up yourself without CONsolidation!

I don't know a legit debt company but be aware that if you do go into some program to consolidate where they call the creditors to get them to take less or stop the interest or whatever, it will show up on your credit reports. Even though we think it is a great thing, creditors don't like it when a report says that creditors reduced the amount owed or whatever was done. First try calling your creditors yourself to reduce the interest rates. If you have not gotten a credit report for yourself, go to www.annualcreditreport.com for you free credit report and start working on it. This is the site setup through the Fed, not one you have to pay for. Get one bureau report and then another in 3 or 4 months to check it out.

It will take much longer to improve your credit after using a debt consolidation company. Your credit will improve quicker if you can demonstrate restraint and accelerated payment on your own. Dave Ramsey has been mentioned many times on this website because he is very good at explaining how to take control of your finances. Have someone you trust come and look at Dave Ramsey's program and your finances with you and have them hold you accountable. Sometimes we need that before we can discipline ourselves into better spending habits. If you are really motivated, it is amazing what you can do.

Primerica Financial Services has a financial needs analysis document that can help you, if you need more information let me know.