Topic: Know of any good debt consolidation companies?

[VANGUARD]

I'm curious if anyone knows of any good debt consolidation companies. I'm trying to get a better paying job but that's not looking too great right now. My wife doesn't have a job at the moment.

Most of this is student loan debt.

I keep thinking if my car was paid off, it'd help a lot, being that's a chunk of change. But it won't be paid off for another two years.

Thanks for any advice, tips, anything.

I know, welcome to "Adulthood".

[-<WillyP>-]

Personally, I'd stay away from them. Remember they will need to make a profit off you, on top of whatever you already owe.

If you are behind on payments, you might be able to negotiate with your creditors, then get one loan from your bank to pay them all off.

[VANGUARD]

You may very well be right. I have been looking at various companies, and not too interested. The amount per month and how many months you pay them, seem a bit crazy.

[-<WillyP>-]

In my case I came home one day and there was a salesman from one of them. My wife was all in, but he refused to tell me what the payments would be, or any other details, so I refused to sign.

Had a very similar experience with a company that claimed they would buy our house and lease it back to us so we could avoid foreclosure.

In both cases my wife had somehow gotten the impression both companies were going to work in our best interests because they were non-profits. Neither assumption was true.

[VANGUARD]

I probably could have been more clear on here, but I don't think it would change the results. I have been looking for a student loan consolidation/forgiveness plan for my wife.

The amount of money and months to pay seems almost as bad, if not worse than leaving it alone. I suppose people get the false impression that they're being rescued from debt so they will accept the help.

I did this before for myself, and ended up filing bankruptcy. I was under the impression I was losing more money going through a debt consolidation. I was hoping a student loan forgiveness would be different. She knows someone who went through it.