Comments on: Is Debt Consolidation a good idea?

By: Anni

Anni — Thu, 26 Jan 2012 16:34:20 +0000

My husband and I have been thinking about doing debt consolidation but we are a little scared Im hoping for some good advice whether or not debt consolidation is a good idea for us. We dont really have spending issues with credit cards. we just want to lower our monthly payment to put some more money away into savings. Also we will be making a higher then minimum payment. we basicly want to combine our two car payments with our mortgage and get some money back for some renovations around the home. we got our home for less then what its valued at. we have been looking at this VA backed company (we are military) called New Day VA. We wont be living in this house forever but we want to keep it and rent it out. We might buy one the next place we get stationed and I was also wondering will the debt consulidation hurt our credit score and chances of buying another home.

By: karen

karen — Thu, 20 Jan 2011 23:17:45 +0000

I just looked up CCC and there are a bunch of them. Can you tell me which one specifically that you trust. I am not sure if the link provided by my computer is right because the name is different. I want to be sure I am going with a reputable company if we choose to do this!

By: Martha

Martha — Sat, 18 Sep 2010 14:42:49 +0000

Thank you. Thinking of doing this, but nervous. My credit is good, but I am struggling every month. Not sure if this is right for me or not. But I like the above story where the person said they went with CCC and it did not hurt their credit. When I talked to someone yesterday from a Debit company, they told me I had to be late on my payments for 4 months. Is this true. Any help or advice is greatly appreciated.

By: Martha

Martha — Sat, 18 Sep 2010 14:40:33 +0000

What does CCC stand for?

By: Chris @ How We Save Money

Chris @ How We Save Money — Thu, 26 Aug 2010 10:41:52 +0000

It has its good sides and bad sides. It can help a lot of people if they consolidate, then cut up the cards and quit using them. On the other hand for the hard core spenders it just frees up some credit they can spend. If everyone could get on a cash only budget the world would be such a better place.

By: Ways to cut your debt

Ways to cut your debt — Tue, 24 Aug 2010 22:22:22 +0000

[...] Debt consolidation – a good idea? [...]

By: Jennife

Jennife — Thu, 01 Jul 2010 12:18:43 +0000

I did debt consolidation when i was around 22/23 years old, and it was the greatest thing i could have done at the time. 3 years later, all my debt was paid off. I’m now in a bind again, but not as bad as before. Just still trying to learn how to budget for my family. I’m now 27, and its still hard.

By: Lisa

Lisa — Thu, 01 Jul 2010 06:51:20 +0000

That a wonderful story. Great work guyz . ITs a encouragement that you guyz are doing for the younsters to come. Great going

By: 51st Bankruptcy & Debt Carnival- online now!

51st Bankruptcy & Debt Carnival- online now! — Tue, 25 Aug 2009 16:52:52 +0000

[...] presents Is Debt Consolidation a good choice? posted at Christian Personal Finance, saying, “A look at who a debt consolidation loan works [...]

By: bob

bob — Thu, 20 Aug 2009 13:17:55 +0000

Diane,
thanks for sharing your story – that is encouraging to hear that you guys made it!!