SHOULD I OR SHOULDN'T I?

Question

i am a little in debt and i was wondering should i use a debt consolidator or should i try to pay off the debt myself?

Answer 1

i don't know. if u should i have never been in your position

Answer 2

If you can work it out, pay it off yourself.

Sit down and make a list of your total debt and income.

Make a plan on which bills to tackle first.

I would choose the bills with the highest interest rates to conquer first.

Pay as much extra as you can afford each month to reduce that bill.

Then when that one is paid off, move on to the next one.

Use tax money that you receive to help reduce your debt.

I definitely would not consolidate if you can help it.

I consolidated some debt 6 years and am still paying on the loan.

It was around $13k and I still owe $5k or so. It will be paid off in 2 more years thank goodness, but the interest rate is no better than the rates on my credit cards. It looks bad on your credit to have an unsecured loan for such a high amount.

Just make a game plan and stick to it and you can get through this.

Answer 3

I would tell your parents and pay them back

Answer 4

pay it off yourself !

Answer 5

If you are just a little in debt then self-discipline and working with your creditors will clear the matter up.  Involving a debt consolidation firm leaves a bad taste in most creditors' mouths.

Answer 6

If you have a job try to payoff you credit cards asap! Paying them off with a debt consolidator takes forever! They let you make "easier payments" the thing is you'll still be in debt but now you'll be in debt with them.

You're simply transferring your debt into one payment. They might negotiate with your creditors and be able to reduce some of what you owe but I got tired of not seeing any progress.

I stopped paying them and just started giving large sums to pay off accounts so far I've closed 4 accounts.

Seriously just pay your credit cards off and CLOSE your accounts and never have too many or any credit card debt again.

Answer 7

try paying it off yourself first if things start to get worse then get help