Faith and Finance

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Question by boxbeatle: What is the best method for consumer credit card debt relief?
We started a program with “Consumer Credit Counselors” This progarm has us pay the Consumer Credit Counselors, then they pay the credit cards every month. All they do is lower some of the interest rates. They don’t negotiate amount owed. The payments are too high for us, so we looked into other alternatives. We found one company that will do it differently for less. They have you pay into an escrow account, and they pay off each credit card individually. They say they negotiate lower balances and interest rates. The payment would be lower and the payoff time cut in half. Does anyone know of any reason we shouldn’t do this? Are there any other better ways? WHAT IS THE BEST WAY TO GET CONSUMER DEBT RELIEF with no loans?

Best answer:

Answer by mustlovemovies101
Ask them if it will affect your credit rating also. I know a couple who did it and they paid off their bills in about 3 years. Oh, and find out if they are a non profit agency. If so, you may be able to write off what you pay them to do this from your taxes.

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