Consolidating debt into a mortgage

09-Nov-2017 21:49 by 9 Comments

Consolidating debt into a mortgage

Yet since bankruptcy has far-reaching and long-lasting results, you should first consider other debt management options.

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Within five days after a debt collector first contacts you, the collector must send you a written notice that tells you the name of the creditor, how much you owe, and what action to take if you believe you do not owe the money.The amount of the payment is based on what you can afford and you do not borrow more money to pay off what you already owe.Your Counsellor will work with you to figure out what you can afford for a payment each month, while still maintaining a reasonable lifestyle.A debt collector may not: Report any problems you have with a debt collection company to your State Attorney General's Office, the Federal Trade Commission (FTC), and the Consumer Financial Protection Bureau (CFPB).Many states have their own debt collection laws that are different from the federal Fair Debt Collection Practices Act.If this option is right for you, one of our Debt Settlement Specialists will negotiate with your creditors to accept a one-time lump sum payment.

Our debt settlement programs are highly successful because creditors recognize the Credit Counselling Society as a trusted, reputable non-profit organization.Speak with one of our Counsellors to find out if offering your creditors a settlement is the right option for you. Bankruptcy is a legal process for dealing with your debts.While no one really wants to go bankrupt, sometimes your situation gets to a point where you need to at least consider if bankruptcy is a good option for you or not.While you are repaying your debts through our program, your creditors will substantially lower or eliminate interest charges.All of your credit card payments will be consolidated into one affordable monthly payment.Sometimes this means showing you how to communicate effectively with your creditors to gain their cooperation during a difficult time, providing advice about consolidation loans, or explaining what to look for as you consider other options.