CC Debt help/relief/consolidation?

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Oct 26, 2006
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I want to start off by apologizing if this is the wrong forum for this. It's the only one hinting at financing issues and I didn't want to straight post it in the RR. I doubt I'd get even one serious answer. But if this needs to be moved, I'm sorry!

Anyway,

Simple question: does anyone know if any of these companies are legit or actually do what they promise? Has anyone here ever had to turn to one?

I have 3 CC right now and about $3300 in debt. I know compared to average Americans, that's a very tiny sum. However, being a college student, what I make at my job barely covers rent, my phone, and groceries. At the end of the summer, I lost my old job and couldn't acquire a student loan for the Fall semester so I wound up falling behind. I'm a few months behind on 2 of the 3 so they're looking for some pretty large sums (large for only being able to work 3-4 short shifts a week because of class).

So I'm wondering, if I contact one of these companies (and they're legit), can they consolidate everything (even though I AM behind) and shrink my monthly payment to $100 or less? That I can definitely handle but it's hard to keep track of 3 CC bills at 3 different companies at 3 different amounts at 3 different times of the month.

Is this just wishful thinking or am I going to have to default? Without some kind of aid I know I'll never be able to catch up.

Any help is greatly appreciated.

I'm sure at least one of these has gone to collection as I just got out of class and I have 4 missed calls.
 

Give BB 2.5k he makes it 20k within 3 months 99out
Joined
Dec 20, 2001
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Those companies charge you around 2k to do what you can do for yourself. All they do is take your money and payout what they deem appropriate. The first 6 months they don't pay anything and collect their "fees" from you while you start defaulting on everything. Your credit will be trashed in the process. They simply won't pay the charge cards or credit accounts and then settle with them around a year later for 20-60 cents on the dollar.

http://www.daveramsey.com/article/the-truth-about-debt-consolidation/
 

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