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Wed 24 May, 2006 07:47 am
I am going to have to throw in the towel when it comes to dealing with our credit alone.
I am over my head, and every time I complete something, I start another ball rolling somewhere else that I was not aware of.
I can not do it alone, and in a timely manner.
So I am considering a financial consultant. Or a credit councilor?
What I am looking for is someone whom I can work WITH on fixing our credit and not someone who will take over and do it all by themselves. I want to have a hand in it as well, and I truthfully can not afford to pay someone to do it alone.
But I am not sure how to pick one?
Or wich one would serve my needs better? A consultant , or credit councilor?
What I need / want is -
-Someone to do the foot work when chasing down accounts.
-Help with the negotiating process
-Keep track of who else ( creditors/collections) is watching my credit and trying to attach something else to get a payment.
-Someone to let ME decide how much to pay to whom.
So, what type of service should I be asking for?
Well, forget financial consultant. This isn't their line, and they are not cheap. I had a friend get pretty good help from a free service (paid for by the creditors, actually). You might start with your better business bureau to see if they can point you in the right direction.
I'll ask about the details when I next see her, so let me know if you don't come up with anything.
Sure. Thanks.
I guess I need to research the diffrence between the two, as I dont know one from the other.
Are you trying to improve your credit rating?
Shewolf--
You seem to want to hire a professional, but still make decisions yourself.
Obviously, you're not fool enough to be looking for a White Knight who will make the past evaporate. Even the best of White Knights are stuck with reality.
You're doing pretty well with negotiations right now. Yes, the process is time consuming, but you're getting the hang of the both the system and the language of the system.
As for the past surfacing, the creditors are going to notice activity on your credit bureau accounts and they will find you, White Knight or no.
Sometimes dealing with the loose ends of Reality means dealing with an untidy mess, one shovel full at a time.
Hold your dominion.
Yes,
my over all goal is to improve my credit rating.
And I have been doing this all by myself for about 3-5 months. Possibly longer.
I have successfully closed 4 accounts totalling 1800.
I just learned, by experience , that , not only am i not immediatly effecting my credit rating, but that credit companies can do some sneaky things if not caught in time.
It isnt a past account that I wasnt aware of that popped up.
Not even one I was trying to avoid..
It was 2 seperate accounts, rolled into one by a collections agency , that turned into a big whopper of an account that has cost me over 100 points on my credit.
I think it is wrong for them to do this. But I dont know how to handle it.
I am feeling over whelmed with the amount of work that it takes to fix credit and I am considering hiring someone to do just as Noddy outlined.
Someone to do most of the nasty work, while giving me the room to help as well.
Credit councilor, or a bill consolidation option..
Not sure wich way to go.
A possibility, which might help you, is to talk to a loan officer at a major bank. Have you done this yet?
My advice?
Never pay anyone to help you pay off your already outrageous credit debt.
There is no quick fix. No matter what anyone claims.
Here is a good website to start at.
National Foundation for Credit Counceling
NFCC
I believe they are free.
shewolfnm wrote:
Credit councilor, or a bill consolidation option..
Not sure wich way to go.
Don't pay someone to do what you can do yourself. Debt consolidation loans are hard to get and debt consolidation companies that don't really loan you money (they just set up a budget for you and what not) take a cut of your monthly payment. There is no free debt consolidation program to the best of my knowledge.
Call your creditors. See if you can negotiate a lower interest rate if you can agree upon a base monthly payment.
Pay $5 or more above the minimum payment.
Don't open any more credit until you've paid some off.
Credit Restoration Help
I'm in the process of trying to get my credit consultant's license so I'm a wealth of knowledge right now. If you like, I'll share, no charge. Of course I'd love to make money, but the truth is I'm in it to help those who need it.
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