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jimelton23
Joined: 25 Jun 2010
jimelton23's page
Posts: 1
40 Magic Points
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Subject: Debt Consultation Costs & Benefits
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Fri Jun 25, 2010 2:30 pm
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Like a home equity loan, with which there are closing costs associated, some debt solutions or debt consolidation plans come with fees. Now, if you are paying 1% and you are saving 10% the savings are a no brainer - but don't be lazy! Calculate the costs and really figure out what you are putting out vs. what you are getting back. Generally, individual debt consultation is not fee based and will be free of charge as they create a debt solution for you. Business debt consultation, because it's more complicated, often does have a fee structure or some outlaying of money. If you've educated yourself about your debt solution alternatives, you won't be surprised by the options laid out by your debt consultant and you'll be able to make an educated decision about your plan of action.
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debt elimination companies
debt elimination services |
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ensurepune
Joined: 17 Feb 2009
ensurepune's page
Posts: 102
510 Magic Points
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hgimmy229
Joined: 01 Jul 2010
hgimmy229's page
Posts: 11
Location: Florida
259 Magic Points
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Thu Jul 08, 2010 7:51 pm
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You always want to be cautious between for-profit and non-profit organizations. Creditors generally only work with 501-C3 non-profit companies.
Non-Profit companies offers free financial counseling. Generally a budget assessment is done to evaluate how overextended you are. Based upon the amount of (Disposable Income) you have left over once you are done paying your fixed living expenses, a program is developed to meet your budget & save you money on your unsecured debts. If the consumer decides to proceed with the program, minimal service fees based upon the companies disgretion may be charged to handle the management of the account.
Please keep in mind, if the program is not cost advantagist for the consumer, the counselor would generally give other recommendatons for assisting the consumer in there situation.
Companies that charges upfront charges were they would hold at least one payment as a fee is generally for-profit organizations.
Why pay a company to destroy your credit rating? You can save your money & destroy your credit rating yourself without paying high fees simply by not paying your bills.
For-Profit Organizations gives alot of appealing offers that they can take your debt, cut it in half or they can eliminate your interest. If that was the case, every consumer would jump on that to avoid interest charges, fees, high balances, etc. but it is just not factual.
Always remember, if something sounds too good to be true, most likely, it is too good to be true.
If in need of a free financial assessment, please feel free to contact me to evaluate your situation.
Respectfully,
Heather Gimmy
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Heather Gimmy
Non-Profit Budget Counseling |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48567 Magic Points
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Wed Oct 27, 2010 11:54 am
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| Quote: |
| Please keep in mind, if the program is not cost advantagist for the consumer, the counselor would generally give other recommendatons for assisting the consumer in there situation. |
It's certainly not going to do any good for the consumer if it's not cost-effective.
What other recommendations are you talking about?
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1889
1388 Magic Points
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Subject: credit
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Fri Oct 29, 2010 5:45 pm
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| I've been working on straightening out my credit, myself (thanks to the Forum!). It's taken alittle while, but, I know it's getting done because I'm the one doing it and I'm NOT paying any large sum of money to get it done!! |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48567 Magic Points
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Mon Nov 15, 2010 11:07 am
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It's not about paying a huge sum of money at once. It's more about paying money in bits...but paying it consistently. You'll need to get a fair measure of your financial strength to pay it till the end.
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BankruptcyRules
Joined: 08 Dec 2010
BankruptcyRules's page
Posts: 5
114 Magic Points
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Subject: Debt Consolidation Costs & Benefits
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Wed Dec 08, 2010 1:44 pm
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There are a number of government programs that facilitate faster loan payments, especially in cases of multiple loans. These financing schemes are popularly known as government consolidation loans and are principally similar to any other consolidation scheme offered by private players.
This kind of debt obligation enables the borrower to compile all his current encumbrances into one single loan.
The biggest advantage of a government consolidation is that you will be charged a much lower interest rate than by private players, enabling you to make lower payments at the end of the day.
Most of the debt that is consolidated include high rate financing such as credit card debts and house loans. With a government consolidated loan, the borrower almost invariably gains a lot. The advantages of using government consolidation are more or less similar to other debt consolidation schemes such as longer period for repayment as well as payment of one loan instead of several scattered loans, making it easier for the borrower to make one fixed monthly payment.
There are certain classes of people who tend to benefit more from these programs than the others. One such class of borrowers is that of students who have taken multiple debt obligations in their college and have not been able to find a job even after their graduation. They can make use of these loans to reduce their outstanding high interest debts including student loans, medical loans and credit card bills.
Most government consolidation loans are administered by the Department of Education. The department starts off with paying off the government loans and enables the borrower to take a single loan for rest of his loans. The borrowers can also make use of several other family loan programs wherein the government provides the borrower with an option to pay off his old loans for a new loan through the standard plan, extended payment plan, income contingent plan and student payment plans.
The government operates consolidation schemes for every type of loan and every type of borrower as well. However, you need to be very careful while opting for a government loan consolidation scheme, not because the government schemes are dubious but because there are a number of spurious companies that claim to be providing 'government loan consolidation services' without having any authorization from the government. However, most of these turn out to be a farce and you can end up paying a larger amount than you would have otherwise.
You should also be careful about choosing the right plan that serves you the best rather than picking just any government consolidation loan. Visit LoanSpec for more information - http://www.loanspec.com/blog/government_consolidation_loan.html (free information).
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Credi
Joined: 23 Dec 2010
Credi's page
Posts: 4
49 Magic Points
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Fri Dec 24, 2010 5:53 am
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who offers debt consolidation for free ?
there is always a fee on it .east tucson apartments |
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Adobe OEM Software
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Subject: AklSHYTlpVJxFMwRwtp
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Thu Mar 08, 2012 6:16 am
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| s4TGHP Im obliged for the article post. Great. |
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