Question: An outfit called the ncc (national consumer council) www.thencc.org > wants to consolidate my credit card debt. I need input about them > before i go further
Answer: There’s nothing these companis can do for you that you can’t do yourself, and having a debt consolidation company show up on your credit report is very bad (from what I’ve read). Proceed with extreme caution. Make sure you do thorough research.
Good luck.
I used myvesta.org to control my debt and brush up my credit report during my last years of college. Myvesta.org used to be Debt Counselors of America. They were great and I paid everything off before I made a major purchase…which is REALLY good because as others have said, debt consolidation is not pretty on your report. But it’s prettier than a default, bankruptcy, etc. However, since my debt consolidations say zero balance closed, it shows that I’ve learned my lesson. Make sure that what ever company you choose, they allow you to pay off as soon as possible and that they are non-profit. Why? Because that is how I shaved off a year of the program via tax refund checks and graduation money. So don’t expect to get credit lines while your in the program. It won’t happen. It was hard staying so financially disciplined when all my friends threw money out the window. After I read how important credit was in the ‘real world’, I straightened up. Now I’m 23 and closing a house this month.
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