07-05-2009 05:11 PM
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?
07-06-2009 05:18 PM
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.
07-08-2009 07:12 AM
Can you PM me too? Trying to decide our best course of action to reduce payments.
07-08-2009 04:52 PM
07-15-2009 11:50 AM
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.
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.
07-17-2009 08:46 AM - edited 07-17-2009 08:49 AM
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.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.