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12 February 2005 @ 11:14 am
Been a year or so since I mentioned my credit card debt...  
...I guess that makes it high time.

So I'm in debt.  Far more than I ought to be.  But for the past many months, I've been making active efforts to not use any of my credit cards unless ABSOLUTELY necessary, which I've been finding really isn't all that often, and paying off more than minimum balances whenever I could.  All the same, At this rate, I won't be out of CC Hell until, like, 2011 or so.  (And this is ignoring the student loans I'm current getting, and the business loans I'll have to take out in order to open a practice in four years.)

I was telling all this to a friend, and he recommended Consumer Credit Counseling Services of OC.  A different friend had recommended them a couple of years ago, but at the time I was too dependent on the cards to even consider it - the first thing CCCS does is freeze your accounts so you can't accrue more debt.  But this time, it occurred to me that I'd already weaned myself off the cards for the most part.  So what's holding me back from getting some help, and possibly having someone negotiate the minimum payments and interest rates down on my behalf?

With that in mind,  I sent in my information yesterday.  They'll have a counseling person review and send me an e-mail in the next two business days with advice and possibly a plan.

*crosses fingers*
Myrasilverlily81 on February 14th, 2005 06:32 pm (UTC)
Re: Yuck.
I went through AFS (American Financial Solutions). They don't exactly consolidate your debt, they just negotiate for lower interest rates and take the whole payment from your checking account on the first of the month. Then they distribute the payments to each creditor. I liked the idea of the low rates, and I asked them if it would mar my credit like debt consolidation, they told me that it wouldn't. Then I discovered that although some of my interest rates went down, all of my creditors closed my accounts. I was already not using them, so that wasn't an issue, but now all of their records show that they "had" to close my account, even when I paid them in full.

Not the best thing that could have happened, but it was a learning experience.

I hope that it works out for you. It sounds like you're really in a place to do it now, weaning yourself off of the cards and all. Good luck.