Debt Consolidation-Tips On Debt Consolidation Loans, Credit Card Debt Consolidation, And Non Profit Debt Consolidation

jimmyaven asked:


I have two credit cards that I have used over 5 years ago and never paid back. The total of the two cards FIVE YEARS AGO was $1000. Of course, by now, it should be close to $3000 because of all the interests.

What does debt consolidation do? More importantly, can it REALLY remove or reduce the interest that built up over the last 5 years?

When doing a search for debt consolidation services, I get THOUSANDS of results. Which debt consolidation services are better?

Detailed answers would be appreciated.
Update: Am I correct to assume that if I leave the debt as it is, I can have it completely wiped off my credit card two years from now as if it never happened?

Dillon Pizzulo

Zeke asked:


I have tried to get approved for a debt consolidation loan so I could have my credit cards and school loan under one monthly payment rather than juggling several payments but I get denied because I have too much credit in my name right now. If I close all the credit cards will this help me get a loan approved? It would make life so much easier if I just had 1 steady monthly payment.

Jarod Guillerault

Princessjacqui22 asked:


I have tryed debt consolidation places but I need to loan to be able to do it all because they dont cover some of my debt.

Toney Ballantine

cindi_chean asked:


We are about $2300.00 in debt with alliance one and i think $900.00 in capitol one. We have a debt consolidation with Federated Financial. But I was thinking that maybe we should just settle with both of the debts ourselves because federated financial charges $29.00 a month and it will take us like 3 years to pay it off, if we go through them. What is the best choice?

Kecia Rodi