I recently took a $10,000 personal loan for consolidation of my debt out at a credit union. I’ve heard getting a debt consolidation loan can hurt your credit because it basically says you can’t handle your debt and your closing accounts. They had me sign letters to each credit card saying that I cut up my card and to close my account. Is this going to infact hurt my credit? If so, how much should I expect?

I recently took a $10,000 personal loan for consolidation of my debt out at a credit union. I’ve heard getting a debt consolidation loan can hurt your credit because it basically says you can’t handle your debt and your closing accounts. They had me sign letters to each credit card saying that I cut up my card and to close my account. Is this going to infact hurt my credit? If so, how much should I expect?

I am about $55,000 in debt due to school loans and credit cards. I am looking to consolidate my payments because I have multiple lenders as well as credit cards. Has anyone used a debt consolidation service and it has not been a total rip-off? I don’t even know how it works to consolidate debt. Any advice and referrals to reputable services is much appreciated.

I’m looking for non profit debt consolidation agencies preferably in the Hampton or Newport news area.

I have debt, and it stands to reason that if you have bad credit, you can’t get a personal loan, so my only option is a debt consolidation company. If anyone has experience with this and used a company that turned out not to be a scam please let me know! Or if you know a company that screwed you over that would come in handy, too. Thank you!!

I am thinking of doing debt consolidation , all the major credit cards I have have 20% + interests and I want help in lowering interest rate. Would I have to list all the credit cards I have? Or can I select the big ones with the high interest?

My fiance and I are trying to buy a house. But no where will give us a loan because he has such horrible credit. Will getting a debt consolidation loan help his credit enough to be able to get a home loan?
Also the things that are bad on his credit are all in collections if that makes a difference.

I’m looking for the best, most reliable debt consolidation company to go with.

I am looking for a debt consolidation program that would not hurt my credit too much. I have a 24000.00 credit card bill that is killing me month to month.

I want to explore all my options before filing bankruptcy. I can afford my mortgage payment, my car payment, and my house bills (utilities, cable bill, etc) but cannot afford to pay my credit card bills and loan bills.

How can I go about finding a good non-profit debt consolidation firm that can help me? Just using google isn’t cutting it, as there’s thousands.

Help appreciated.