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Keep in mind the 125 loan will probaly have high interest or some other means of increasing the payment in the future. The lender wants to be covered for their risk. Talk to a banker about the loan and an Attorney about the debt couseling agencies. That should give you your answer. Check out either company you decide to go with by calling the BBB of your state.

2007-11-09 22:37:19
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Q: How do you decide between a 125 no equity loan or a debt counseling agency to consolidate your huge credit card debt?
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Related Questions

How much debt is necessary to qualify for a credit counseling agency?

A credit counseling agency is a good bet for anyone who is struggling with debt, no matter how much debt is on the books. The service they provide if only advice is good and sound.


How can you find assistance to consolidate debt?

There are many companies that work to consolidate consumer debt. Credit Counseling companies offer low cost options without looking into bankruptcy filing and often come out on top of other options. Consumer Credit Counseling is a great company that offers many programs in debt consolidation.


Where can one get some consumer credit counseling?

American Consumer Credit Counseling is a nonprofit credit counseling agency that helps consumers take control of their financial lives through credit counseling, debt consolidation, and financial education. Since 1991, we have been improving lives and providing solutions to people in need of financial help debtredemption.


How can one find help to consolidate one's credit card debt?

One can find help to consolidate one's credit card debt by checking out websites which offer debt relief and counseling services, for example In Charge, Care One Credit and Consolidated Credit. Other agencies which assist with debt relief are Repay Debt and Prosper.


Where can you learn how to consolidate lenders?

Many individuals seek help from credit counseling agencies to consolidate lenders, but sites like Marketwatch, CNN Money, Dave Ramsey and Bankrate all offer free financial advice.


Can you use a credit counseling service to pay the deficiency balance in a repo in nc?

I was a Certified Credit Counselor in the state of North Carolina, and the answer to your question is no. The only accounts that a credit counseling organization will accept are revolving accounts (credit cards), payday loans, utility debts, and medical debts. Repossessions will have to be negotiated between you and the collection agency or lender that has this account.


What is a credit counseling agency?

A credit counseling agency is a business, or partnership which gives advice on either boosting your credit scores, and expunging credit blemishes from your record.


Where could one receive consolidation services online?

There are two ways one could consolidate debt online. The first would be by contacting a bank and obtaining a debt consolidation loan. The second would be through a credit counseling service such as Consumer Credit Counseling.


Is there a fee to use a credit counseling agency?

Most credit counseling agencies do charge fees. Some offer sliding scale fees depending upon your income, others charge hourly fees which can be excessive.


What is the fee for online credit counseling?

The fee, if any, will vary depending on what agency you choose - as well as how much debt is involved. Some agencies, such as Advantage CCCS, claim to offer free online credit counseling.


How do you find a credit card counseling program?

Usually, a credit counseling agency will attempt to get you a lower interest rate on your credit cards in order to coax you into paying them down. The creditors do not have to accept these terms and can easily reject you, but this is usually based upon your own financial situation and the type of relationship that the credit counseling agency you go with has with your debtors. More often then not, these credit counseling agencies will have a relationship already with these major creditors and already know how much money that they will get as a result of working with them and how much the interest rate will be reduced because of it. You can usually expect to pay back your entire balance on the debt that you owe and anywhere between six and twelve percent of the interest. This is about half of what your normal interest would be. Again, they do not have to do any of this, but it is what typically will occur when you go through a credit counseling service. When you speak with the potential credit counseling agency be sure that you get all the exact terms and conditions from them. They will usually try to have all of your late payment fees reverted, but this tends to happen when you have a proven track record of about half of a year with them of solid payments.


Credit card counseling?

A credit counseling agency will attempt to get you a lower interest rate on your credit cards in order to coax you into paying them down. The creditors do not have to accept these terms and can easily reject you, but this is usually based upon your own financial situation and the type of relationship that the credit counseling agency you go with has with your debtors. More often then not, these credit counseling agencies will have a relationship already with these major creditors and already know how much money that they will get as a result of working with them and how much the interest rate will be reduced because of it. You can usually expect to pay back your entire balance on the debt that you owe and anywhere between six and twelve percent of the interest. This is about half of what your normal interest would be. Again, they do not have to do any of this, but it is what typically will occur when you go through a credit counseling service. When you speak with the potential credit counseling agency be sure that you get all the exact terms and conditions from them. They will usually try to have all of your late payment fees reverted, but this tends to happen when you have a proven track record of about half of a year with them of solid payments.


Where can someone find consumer credit counseling?

One can find consumer credit counseling by choosing the right counseling agency fitted to one«_s needs. Here are some of them namely, Care One Debt Relief Services, AAA Fair Credit Foundation, Springboard, Money Management International and many more.


Debt consolidation loan?

Depending on what your asking. Your local bank or credit card company may be able to help you consolidate high interest debt with a debt consolidation loan. If you are looking to free up some cash flow by using a debt counseling service then you may be able to consolidate some of your high interest unsecured debt (credit cards) by working through a counseling company and the credit card companies. Keep in mind, having steady income is important to factor in when entering a debt counseling/consolidation program.


Consumer credit and debt counseling can be found where in California?

Consumer Credit Consultants, Inc is located at 8280 Florence Avenue, Suite 210, Downey, California. This is one example of a credit and debt counseling agency in California. A complete list can be viewed at the website of the California Department of Business Oversight, who overseas counseling agencies in the state.


What are the advantages of a consumer credit counseling agency?

Some advantages of a consumer credit counselling agency includes receiving expert advice on financial matters from financial experts, and having access to a experienced team of financial negotiators.


What is a reliable credit counseling agency?

There are a number of reliable credit counseling agencies that are reviewed very well online. Some reliable credit counseling agencies are CareOne, Springboard, American Consumer Credit Counseling and American Financial Solutions.


Where to go for bad credit counseling advice?

If you need bad credit counseling advice, seek the help of a credit card counselor from a reputable credit card counseling agency that is certified and licensed. You can check out your local consumer protection agency or Better Business Bureau for recommendations.


What are the benefits of consumer credit counseling?

The benefits of consumer credit counseling is that you will get some helpful advice on how to get your consumer credit back on track. There are many benefits that come with consumer credit counseling.


How can one consolidate credit card debt?

One can consolidate credit card debts by rolling them into one lower interest credit card. Many companies offer this service such as such as 'Credit Guard' offer this service.


Which organisations offer consumer credit counselling services?

Some organizations that offer consumer credit counseling services include the Association of Independent Consumer Credit Counseling Agency and Consumer Credit Corporation. Another company in the same industry you may bee interested in is the National Foundation for Credit Counseling.


Where can one find credit repair counseling in Toronto?

When looking for credit repair counseling in Toronto, it is advisable to first see the Ontario Association of Credit Counselling Services, or, OACCS, who set the standards for the qualifications and hold a database of approved counselors. Another useful organisation is the 'Financial Consumer Agency of Canada'.


Do you have to get credit counseling before you can file for bankruptcy?

You do not have to necessarily get credit counseling before you can file for bankruptcy.


How many locations are there for the Credit Counseling Centers of America?

While the agency doesn't give an exact number of locations, they do have offices in every of the fifty states as well as Puerto Rico. For more information on the location nearest you, check the "Consumer Counseling Service" website, which is operated by the agency.


What services are provided by Consolidated Credit Counseling Services Inc?

Consolidated Credit Counseling Services, Inc. offers services such as reduction of credit card payments. Consolidated Credit Counseling Services, Inc. also offers services for debt management solutions and credit and housing counseling opportunities.