What effect does using one of these "debt consolidation" companies have on your credit rat

Do they really help? Does your monthly payment really drop substantially? Did it work for you?

What effect does using one of these %26quot;debt consolidation%26quot; companies have on your credit rating?

Jimbo,

I listen to a radio show every day (Dave Ramsey ...look it up, it%26#039;s pretty interesting). He says that debt consolidation does some damage to your credit rating, they%26#039;re not good plans and sometimes the mess up. He also notes that if you don%26#039;t change your behavior, you%26#039;re going to get back in debt. He has a process where you pay minimums on every debt you have and then pay everything you can on the smallest. Then once that%26#039;s paid off, work on paying off the next.

This is part of a bigger (but very simple) plan he details for free.

What effect does using one of these %26quot;debt consolidation%26quot; companies have on your credit rating?

I have a friend that went in to this deal. They charge you a monthly fee, but it does work. Her credit rating went up, her payments are lower. What they do is if you have high interest rates, they will work with the banks to get you a lower interest rates (they have charts for the different banks). If your interests are lower than what they can offer you, do not go into it, stay put.

This is a web site you can look into and have someone call you to discuss your options.

www.cccs.net

If you decide this is not what you want to do but still need a plan to pay down your debt go to: www.bankrate.com and clik on the calculators tab and then on the debt management tab and look for debt pay-down adviser. I use it....

What effect does using one of these %26quot;debt consolidation%26quot; companies have on your credit rating?

The credit rating is used by the lender or investor to assess the risk of lending or investing money to the individual or

the business.Credit ratings are usually calculated using the financial history of the person and also current assets and

liabilities.Want more information???plz check

http://www.acreditlibrary.com/creditrati...