credit consolidation
 

I have a friend that is polly 10k in credit card debt~ anyone know a good credit consolidation company online or a bank that does credit consolidation? Thanks!

I don't, but I do see news stories from time to time urging anyone using a CC agency to research them thoroughly to make sure they're not getting further ripped off. Also, once someone else becomes responsible for making payments on your behalf, and they pay late, that's on you and there goes another 5 points off your FICO. Imagine if you had 10 revolving accounts to pay off and they were all 30 days late just once!

IMHO, 10g's is not so far behind the count: I'd get a part time job and throw every paycheck towards the red ink for 4-8 months and be done with it.

Most banks offer some type of credit consolidation.

Back in my "bad finances" days I used Genus. Great company, no complaints. Debt consolidation companies will put a bad mark on the credit score though, use only as a final option. Look for a non-profit organization for the most honest help.

I called genus, actually they became afs. They charge $50 dollar to setup and then charge 8% of your payments every month. They never promise any special kind of interest rates. Anyone can solve this? By how many %of APR need to be waived to consider this is a money saving plan???

:iagree:

The best credit consolidation technique i know doesn't require a company it requires getting rid of all of one's liabilities so there is no need to charge anything until your debt is paid off. Stay slim and trim financially. Sacrafice is paramount with nothing spent on extras period. Concentrate on nothing else but the debt until it's gone. It does take discipline but you wont have to pay anyone to solve your problems and the lesson you learn is a life long lesson that teaches you to never ever do that again. :thumbup: