I got a call from a debt consolidation company today. They've told me they can take my $3000 medical debt, and my $1500 credit debt, and make it go away in 12 months, for $240 a month
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Back freshmen/sophmore year of college I got myself in some fucked off debt with BoA. Knowing they probably weren't going to get the full amount for me they sold my debt to a third party and I made payments with them and it was paid off at about half the price due to a settlement. Of course, I've got a stinking big black mark on my credit but it isn't as bad as having outstanding, un-paid debt.
My suggestion would be to find out the details, if there is any interest, or if they are settling for the amount and the amount you pay per month is that. If you're only going to pay $240 a month and you'll be done with it in a year, I say go for it; good credit is hard to get and harder to keep but worth it.
Hoffbrau got jacked. Hard. Check them out through the Better Business Bureau. Google them and see if you can't find anyone who has used them and has something good to say.
Steve and I did it a few years ago, and it was great. Low payments, no marks on our credit report, everything payed off in 2 years (we had alot of dept). I say if they check out go for it. it really did help us.
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My suggestion would be to find out the details, if there is any interest, or if they are settling for the amount and the amount you pay per month is that. If you're only going to pay $240 a month and you'll be done with it in a year, I say go for it; good credit is hard to get and harder to keep but worth it.
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Check them out through the Better Business Bureau. Google them and see if you can't find anyone who has used them and has something good to say.
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I can hear your bitter laugh right now.
Just trying to warn you. Be sure to get all of the details.
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