which option will be better for me and why?

I have some credit card debts which I’m not able to payback in full. That’s why I have decided to take help from a debt consolidation company. I came to know that debt consolidation hurts credit score. Is it true? If yes then which option will be better for me and why?

2 Answers

You can go to an experienced credit counselor. The credit counselor can suggest you the ways to repay your debts through effective money management and budgeting.  


Thru consolidation you are still going to pay back in full and yes it will damage your credit.  You may pay a lower interest rate but you will still pay back all you owe.  And you do run the risk of being sued.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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