dept consolidation...

[galahad_187]

i didn't know where else to post this.

After paying for a wedding, a honeymoon, and buying a home in a months time, my wife and i are in some pretty serious dept. My bankroll is in trouble (withdrawing to pay for stuff) so it's time for some rebusto style rebuilding. The poker advice i'll get elsewhere (getting some random job is a strong possibility.) but what i'm writing in this forum for is advice on dept consolidation agencies.

All google is giving me is companies and success stories. Has anyone delt with these companies? which would you recommend? any idea where i can get some good information on which i should use? We're about 13,000 in credit card dept with another ~13k in school loans. school loans have pretty low fiance charges, so all i really want taken care of is the credit cards, but if it would be +ev to toss the school loans in, i would of course. If it matters at all we're 23 and 21 years old.

thanks in advance for any advice.

galahad

[superadvisor]

If you have good credit and can get a 15K credit line (or multiple smaller ones) with a 0% interest introductory rate for the first year you can rollover your balances on to them and you will save some money on interest while you try to pay them off.

[AggroFish]

You can always do a forbearance(sp?) on the student loans. All the debt consolidation companies I know of have you cancel out the credit cards and make payment arrangements with your creditors. You can keep your cards open and do the same thing.

Although rates are not the greatest right now, you may want to consider doing a HELOC and compare what the payments would be on that versus what you are paying on the CC debt currently. This is of course assuming you have equity. You can always consolidate the mortgages down the road when your situation warrants.

[JJSCOTT2]

I'm trying not to throw my computer across the room after reading 'dept' like 5 times.

[superadvisor]

[ QUOTE ]
Although rates are not the greatest right now, you may want to consider doing a HELOC and compare what the payments would be on that versus what you are paying on the CC debt currently. This is of course assuming you have equity. You can always consolidate the mortgages down the road when your situation warrants.

[/ QUOTE ]

Hey aggro, He says he doesn't own a house.

[AggroFish]

"...and buying a home in a months time." My bad, first time I read this it appeared past tense.