Consumer Credit Counseling Debt Consolidation
Consolidating debt through Consumer Credit Counseling Services? Info needed.?
I have approximately $2000 of credit card debt that I absolutely need to get paid down. i talked to Consumer Credit Counseling services, a debt consolidation company, http://www.cccsstl.org/ and this is what i was told:
Basically they would cut my payments down to about $130 a month total for 3 cards by getting my interest rates lowered to between 6 and 10% approximately. I would pay it off in 2 years instead of 8 as i would now without consolidating. he said the $130 a month payment included a monthly fee of $49 directly to the credit counseling service for their help and services. Is that the normal thing when consolidating? Is that legitamet? I would only be paying $80 or so a month on the actual credit card debt and that doesn’t seem like very much to me.
Anyone have any knowledge in this area? Is consolidating a smart thing to do and does it hurt your credit in any way? Is there a smarter way to do it?
LONG-sorry and thanks!
I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.
Bad Credit Debt Consolidation
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