wach month consolidated debt company takes out 500

wach month consolidated debt company takes out 500.00 a month. I canr afford to pay them. What happen if i stop paying them?

3 Answers

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I agree with what the other posters have said. Try to make the regular payments. If you feel that you'll not be able to make payments, contact the company beforehand. Explain your situation to them. See, they may tell you what can be possibly done in this matter.


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Yes, the entire debt consolidation agreement will discontinue and thereby you may have to start it off agaain by going through the entire process once again. Tha'll be a waste of your time and money. You better save money rigorously so that you can at least make the $500 payments on your credit cards and soon live debt free.


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If you stop paying them, then your contract with them will come to an end. Once again, you will have to deal with your lenders/creditors on your own and pay off the debts.


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