Is consolidating debt a good idea
She had made several unnecessary purchases, signed onto a bunch of new credit cards, and bought a house all at the same time.
Her husband tried to help, but he also brought along his own debt when they got married.
You always make your payments on time, so your credit is good.To do this, many or all of the products featured here are from our partners. It can reduce your total debt and reorganize it so you pay it off faster.If you’re dealing with a manageable amount of debt and just want to reorganize multiple bills with different interest rates, payments and due dates, debt consolidation is a sound approach you can tackle on your own.“It was a definite feeling of, ‘How low could I go? When it got unbearable, they sought the help of a professional.’” Lorraine was understandably very emotional during the whole ordeal. She completely trusted the company, but that trust backfired.
She chose them because they came recommended by colleagues at her nursing union. I would break down on the phone and my advisor would help me feel that everything would be ok,” she says. It was a weight was lifted off my shoulders.” Some debt consolidation stories like Lorraine’s may have happy endings, but the practice isn’t good for everybody.