Personal Loan To Consolidate Debt

Edwards Finance > Debt Consolidate

Q. Hopefully someone here can offer me some input. About 14 months ago my husband and I sought out a non-profit debt consolidation company to help us with our whopping debt load of 30,000 in credit card and personal loan debt. Since we began the program, we've paid out a little over 11,000 dollars, but thus far only about 7,000 of that total has gone toward the actual debt. Over a third of our monthly payments is still going toward interest. I am probably being naive (which is undoubtedly what got me into this debt mess), but I had hoped that our interest load would drop when we began working with this agency. Even though we make one monthly payment to the agency, we still get our actual bills in the mail, and it shows that our interest rate on our credit cards has stayed the same (with one exception). I was under the impression that debt consolidation agencies were usually able to negotiate some pretty good interest rate reductions. I'm having a hard time seeing the light at the end of the tunnel with these interest rates still accumulating. Is this pretty much standard, and I should just accept it..or should I scout around for another debt consolidation agency that might be able to negotiate better interest rates? I have no idea what the norm is.

A. If unsecured credit card debt is what is taking you over the edge towards either a chapter 7 or 13, please visit our site for more details. You may call us, our telephone number is on the web site. We use federal laws, which enable you to terminate your credit card debt without going through the bankruptcy process. Our methods are completely legal, private and no attorneys are involved, which explains why they do not care for our methods. Additionally, our method does not involve a "black mark" on your credit report for 7 to 10 years, like a bankruptcy. Your satisfaction is guaranteed.

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