My question is on my credit report for each creditor that I have enrolled in the program it reads payments managed thru a consumer counseling agency (something along those lines) how long after I have finished the program will this notation remain on my report? Also how long after the program will I be able to get credit again?
FYI I do not need to know how a debt consolidation program works…as I said I have been in it for 3 yrs
I know people have there own opinions about it but I felt for my situation this was the best choice- so please do not give opinions about how I could have paid this debt myself
Please notice that I did not say how soon can I get a credit card I said CREDIT period….for anything specifically a house.
The loan was given by a asset finance company but as the loan was based on assets, which depreciate in value very fast it was only spread over 2 years (as opposed to a bank loan that would be over 20 years).
As you can appreciate, keeping up with payments in this climate over such a short amount of time has become rather difficult. Can anyone provide me with any numbers for any company’s that could help. (there are many company’s that do debt consolidation but none cover asset finance agreements)
Please help. Many thanks.
$26000- 2 vehicle loans
$12,00-2 personal loans
$12,000-Credit Cards
What is the BEST way to eliminate this debt?? I know paying more on everything per month can really help but unfortunatly we dont have THAT much more that we can pay towards everything. We are young and accrued all this debt a few years ago. We realized we were really stupid for doing this and we have learned our lesson. Now how do we get out?
I also should add that NOTHING we have is unpaid or in collections or backed up. We have no back taxes, or unpaid anything. We just make minimum payments on everything but all of our accounts are always current.
This would be a $50,000 loan for 7 or 8 years from our bank (Bank of America)