7 Responses to “Can you consolidate your own debt, w/out hiring a company, and can you consilidate car debt?”

1. Cyclone Ranger ? on November 25th, 2009 3:39 am

   how would you consolidate your own debt?

   consolidating debt means that someone has bought your debt, and is refinancing it back to you.

   are you capable of buying your own debt? if so, why are you in debt in the first place?

2. nickelrustler on November 27th, 2009 11:38 am

   At this point in your credit history….nothing more can really hurt you anymore. Debt consolidating or not? It’s a moot point here. Get rid of all your debt by calling the companies and telling them you have X amount of money and can pay that right now. (they will ALWAYS take 50% of the total…and depending on the age of the debt, go all the way to 25% of what is owed on ONE TIME PAYMENTS)

   So, get all of this done and then in 7 years you will have this all behind you. You can have a small CC or some debt you will pay on time no matter what just to have established credit in 7 years..in the meantime, live within your means and NO CREDIT beyond that one small card.

3. Nicky on November 28th, 2009 2:11 pm

   We did the debt con. thing, they charge like $50 a month–but for us, it has been worth it. Our payments are automaticly deducted from checking–so we don’t forget to send payments! All of our interest rates are about 6% on cards! But, call you card and car companies first, Discover offered us thier “deal” which knock our intereset rate in half! So call your creditors, tell them you plan to call a debt place, see if they can help for free first. Then call around. Good luck!

4. galloping_grasshoppers on November 28th, 2009 9:01 pm

   I know this is somewhat vague and general but I have always heard it’s better to figure out a budget and make payment arrangements of whatever you can afford with the companies to which you owe money.

5. abel jarrod on November 29th, 2009 9:06 am

   Bad credit debt consolidation loans are quite popular with those with poor credit history. If your loan application is rejected by a lender, bad credit debt consolidation loans are there to help. If you want to repair your credit history by repaying a loan, which has simple terms and low monthly installments, again bad credit debt consolidation loans are for you. They save you after rejection and help you regain your financial credibility, so that you can again enter the mainstream credit market.

   Bad credit debt consolidation loans are of two types:

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   These types of bad credit debt consolidation loans are secured by a collateral usually some property or a guarantor. Since, the lenders find something to bank upon in case you default on payments, the interest rates on secured bad credit debt consolidation loans are cheaper, the lending amounts are higher and the repayment period can be long. Read more about it at:

6. See Saw on December 2nd, 2009 6:09 am

   You make a single payment to one lender on a certain date and this will help you clear off the debts faster. But the fact remains that debt consolidation is not easy all the times. If you owe a lot of money, obtaining a consolidation loan at the lower rate of interest can be difficult. Choosing a high interest loan can increase your debt.

   The primary aim to consolidate debt should be to reduce your total costs. To achieve this, you have to consider the following two points:

   -Shop around for the loan with the lowest interest rate.

   -Chalk out a strategy to clear off the debts in 3-5 years.

7. John L on December 2nd, 2009 3:41 pm

   No it is not possible. You have to go to a company and they will handle the whole matter for you and it also reduce your headache .
   To know more you can visit
   and

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