debt consolidation?

[ByRoN]

who has done it? who did you use? i ma looking to have one payment instead of 5

[Stonecold54]

I like what Suze Orman says...take the highest interest card and pay as much as you can on that one...and while you are doing that pay the minimums on the other 4 payments...then when the first is paid off you take the previous amount you were putting on the first card and add it to your minimum and start paying off the second card. and so on until they are all paid off in that manner....its a sound plan and unless you have absolutely no means of money than it should work.

[Mr I]

The more you borrow, and pay off the more credit they like to give you, its true to say that if you go to the bank on your arese saying I'm in the shit help me, they'le offer to consolidate but mark you as having problems. However, if you go looking for a small loan for say 'a new car' you can use that lower rate finance to pay off your cards and pay back the loan at that lower rate, they won't know you were consolidating and they'le improve your credit rating.

[bad14u]

who has done it? who did you use? i ma looking to have one payment instead of 5

If you this do not use these people you see on TV. Get all of your statements from your creditors(people you owe) and go to your bank and talk to them. If you are in good standings with them they should be willing to work with you, and they will not mark your credit report with anything saying that you are on a credit management program. It will show up as a loan on your credit report. They should be able to get in touch with each creditor, get the final payoff and cut them a check. As each creditor gets their money it should start to show up on your credit report that each one has been payed off.

[ByRoN]

not in trouble just want to make one payment

[beefcake]

not in trouble just want to make one payment

True, but that's why it hurts your credit. Cause it shows that you don't have what it takes to carry a balance and manage credit well. How bout getting a balance transfer from one of your better credit cards? That should eliminate at least one other credit card.