Consolidation service credit card consolidating debt

And they must honor a written request from you to stop further contact. Secured debts usually are tied to an asset, like your car for a car loan, or your house for a mortgage.If you stop making payments, lenders can repossess your car or foreclose on your house.Contact your creditors immediately if you’re having trouble making ends meet.Tell them why it’s difficult for you, and try to work out a modified payment plan that reduces your payments to a more manageable level.They can tell you if any consumer complaints are on file about the firm you're considering doing business with.Ask your state Attorney General if the company is required to be licensed to work in your state and, if so, whether it is. Are you worried about losing your home or your car? Many people face a financial crisis at some point in their lives.

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At that point, your creditors have given up on you.

If you’re thinking about getting help to stabilize your financial situation, do some homework first.

Find out what services a business provides, how much it costs, and how long it may take to get the results they promised. Get everything in writing, and read your contracts carefully.

Some lenders may reduce or suspend your payments for a short time.

When you resume regular payments, though, you may have to pay an additional amount toward the past due total.