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Money Advice
Board: Money and Investing
Aug 21, 2013 12:53pm
Thread (disabled) Board
Hey all. Well this has been one heck of a year. Basically we screwed ourselves when we were younger and got in credit card debt. So we've been ok the past couple of years, even managed to pay some off and buy a house. We usually have a little bit left over each month. Well, last month I miscalculated something and we've been treading water ever since trying to get back on track. Just as I think we'll be ok in the next few paychecks, my husband's hours is going to be cut back drastically for at least two months. He's our only income. I need to figure out something. I could get a job at walmart or babysitting, but it'd still be a few weeks before i'd see any income. So I'm wondering if those debt consolidating things work? I don't want them to lower my debt, just lower the payments until we get back on our feet. Any ideas?
Re: Money Advice
Board: Money and Investing
Reply to: #799133 by Hosmer's
Aug 21, 2013 5:50pm
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Credit card debit . . . the worst.

Anyways, I work with Green Path. They don't really talk to your creditors to reduce what you owe. What they do is they talk to the creditors and get your credit cards into a their program and explain that you are in their program and they get your monthly charges reduced to sometimes nothing.

They also talk to them about a payment schedule, sometimes even reducing your monthly bill.

I would talk to them. It could not hurt. Plus they don't charge a large up front fee like a lot of other "consolidators" do. I do pay them like 35 buck a month but I send them one money order and they pay everyone from that one money order. One stamp for me.

csk
Re: Money Advice
Board: Money and Investing
Reply to: #799193 by Captain Slick Kitty
Aug 22, 2013 7:14pm
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Thank you. It looks like a good company. I'm going to see if I can talk to the creditors first. I appreciate the tip! :)