Re: Debt Consolidation

Posted by Nitsa on January 17, 2002 at 16:27:14:

In Reply to: Re: Debt Consolidation posted by Linda on January 08, 2002 at 22:55:27:

Filing BK isn't better. If you have good credit then get a lower interest rate consolidation loan and forget about CCCS. You never know how creditors will look at it. If you have poor credit it doesn't matter anyway. Pay off your obligations through cccs. They help lower interest rates and get you affordable monthly payments. If you're trying for a mortgage BK will kill you. You'll have to go back to court and get a letter from your trustee allowing you to obtain additional credit. On top of that the BK has to be discharged and you'll have to prove it. Then you'll have to clean up your credit report by going line by line and making sure it states that the account was included in BK. It's a mess. I know I was a Mortgage lender and processor. Don't do it unless you really ave to.

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