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Getting out from under with a consolidation loan?


Vinny2020
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The last post in this topic was posted 4605 days ago. 

 

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So I woke up today with a call from Chase asking me to make a payment on my old WAMU biz card that they closed. I asked them if they had a hardship program and while looking up the total monthly payment for their application, I saw that it was over 1400.00 month. That was a huge wake up call. I only have about 500 a month I can put toward cards a month if I eat raman noodles. I have 20k in revolving credit balances. Rather than plugging the dike, I'm thinking it might be best to do a debt consolidation. Are there any board recommended ones? JP Chase gave me the number to one called Money Management International (800 339 9159), anyone heard of them. I really need to get these APRs in line. Now that everything is rate jacked, monthly payments on my cards has basically ballooned beyond my current means and I'd like to salvage my credit if possible which is still decent with no baddies but that may change soon. Any advice or pointers to related threads are appreciated.

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How late are you? Maybe better to save up so you can do a settlement in a few months if just that one card is 3x more than you have available. Likely even with a debt settlement, which you can likely do yourself and not have to pay them more of the money you have , your payment likely will still be above 500.

 

I have seen others who settled for less than 50% before charge off so saving for lump settlement maybe the way to go if you cant come up with minimums.

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