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Non-Profit Debt Service

New Contributor

Non-Profit Debt Service

I am currently in some serious financial strain..I have 47K+ in unsecured debt..I am struggling a bit to pay off this debt..And to make the monthly payments.

 

Can someone recommend a reputable company to help with my situation?

 

Thanks,,

 

 

Message 1 of 12
11 REPLIES
Super Contributor

Re: Non-Profit Debt Service

If you are inteerested in a Debt Management Plan (DMP), it will reduce the interest payments and elimiate  OTL and late fees.  it wont hurt you credit in the long run but you have to be able to afford the payments and the max time you can take to pay them off is 5 years.

 

I sent you a PM on the DMP company I used.

01/13/2018: FICO 829 EQ 823 TU 831 EX
Message 2 of 12
Established Contributor

Re: Non-Profit Debt Service

Marty,

 

Can you PM me too? Trying to decide our best course of action to reduce payments.

 

 

Filed Chapter 13 April 2012. Case successfully closed May 2017, about 1 month after 60th payment. FAKO scores on close date: TU 695 EQ 697. Received discharge July 11th - took forever! Real EX day of discharge 624.
Message 3 of 12
Super Contributor

Re: Non-Profit Debt Service

Done.  IMHO in terms of saving money and protecting your credit, I think a DMP is a good option.  Doing it yourself requires discipline I lacked at the time and these days, wont protect you from AA.  I was 51  before I was CC debt free so its never too late.
01/13/2018: FICO 829 EQ 823 TU 831 EX
Message 4 of 12
Valued Member

Re: Non-Profit Debt Service

Clearpoint FS
Message 5 of 12
New Contributor

Re: Non-Profit Debt Service

Thanks...Greatly appreciate it.

Message 6 of 12
Visitor

Re: Non-Profit Debt Service

Marty,

 

Could you please give me the name of the people you use to get out of debt, because I'm also considering someone to help me to get out of debt.

 

                                                                                                    Thank You,

                                                                                                     Nelson

Message 7 of 12
Super Contributor

Re: Non-Profit Debt Service


leodaddy_38 wrote:

Marty,

 

Could you please give me the name of the people you use to get out of debt, because I'm also considering someone to help me to get out of debt.

 

                                                                                                    Thank You,

                                                                                                     Nelson


I sent you a PM since we cannot post the names of DMP companies here.

 

If you have any questions let me know.  Other member here are in or have completed a DMP program.

01/13/2018: FICO 829 EQ 823 TU 831 EX
Message 8 of 12
Regular Contributor

Re: Non-Profit Debt Service

I have been on a DMP for a couple of years. I had about $34,000 in unsecured debt. Last I checked I am $9,500.00. My credit score went from 475 to 680 (last I checked as of a few months ago).  I had 16 revolving credit lines, now I am down to 5.

 

Without a DMP, I would have been in bankruptcy. It is a challenge everyday. What I am trying to say is if you need to lose 75 pounds.. You can go on a strict diet and lose 75 pounds in a year. But this is like a strict diet that keeps going for 5 years. Its frustrating not being able to go on a nice vacation, not being able to go on small trips for the weekend, not being able to remodel the house.. But at least in this economy I still have a job, and I still have a house.. and there is light at the end of the tunnel.. I will be revolving debt free in about 24 months.

 

What I am trying to say is the DMP is a great program.. But you can't expect your debts to magically disappear. It takes a lot of time, effort, and sacrifices.  

 

Message Edited by Pants on 07-17-2009 11:49 AM
Message 9 of 12
Visitor

Re: Non-Profit Debt Service

Pants, could you please give me the name of the DMP you are with.
Message 10 of 12