«Even though you are
enrolled in a debt consolidation program, your creditors still have the right to collect and can bring a lawsuit to collect on these debts,» states Matthew Zimmelman, a bankruptcy attorney from the New York City area.
The only minor set - back of
enrolling in a debt consolidation program is that your credit report will be flagged by your creditors as participating in a credit counseling / debt consolidation program.
Are there any negatives to
enrolling in a debt consolidation program?
Your credit report will be marked by your creditors as being
enrolled in a debt consolidation program.
PROS AND CONS OF
ENROLLING IN A DEBT CONSOLIDATION PROGRAM Debt consolidation is a great option for those that are deep into debt, and don't want to declare bankruptcy.
However, just like with anything in life,
enrolling in a debt consolidation program has it pros and cons.
- Consider
enrolling in a debt consolidation program.
Whenever
enrolling in any debt consolidation program, ensure that the company is accredited.
Not exact matches
Before
enrolling in a credit card
debt consolidation program, learn about the possible impact to your score.
If you can't afford the monthly payment under a
consolidation program, you can get
enrolled in an Ohio
debt settlement
program offered by a settlement company or law firm.
However, for people crushed by unsecured
debt — usually credit cards bearing painful interest rates — Ramsey resolutely avoids ready remedies like consulting a nonprofit credit counseling service,
enrolling in a
debt management
program or seeking a lower - interest
debt consolidation loan.
Pros of
Debt Consolidation The strongest positive factor of enrolling in our debt relief program is that you will not have to declare bankrup
Debt Consolidation The strongest positive factor of
enrolling in our
debt relief program is that you will not have to declare bankrup
debt relief
program is that you will not have to declare bankruptcy.
In addition, if you have other types of unsecured debt, you should consider enrolling in a regular debt consolidation progra
In addition, if you have other types of unsecured
debt, you should consider
enrolling in a regular debt consolidation progra
in a regular
debt consolidation program.
Non-profit credit counseling agencies can provide education and relief, while teaching consumers about
debt consolidation or
enrolling them
in a
debt - management
program.
If this is the case or you feel overwhelmed with organizing
debt consolidation plan, consider enrolling in a debt relief program like the one offered by Freedom Debt Rel
debt consolidation plan, consider
enrolling in a
debt relief program like the one offered by Freedom Debt Rel
debt relief
program like the one offered by Freedom
Debt Rel
Debt Relief.
Brooks
enrolled in a
debt relief
program with a
debt consolidation company to make his loan payments more manageable, but that didn't work out and he defaulted on his loans.