Debt at 21!

Hi Evie

Welcome to the forums. I do not encourage you to miss your semester as you have so much of your debt. Losing one semester will be a loss of your precious time in your life and you should not make such kind of decision.

Making the minimum payments on your debt does not reduce the total amount of the debt. It is because your debt is building up with financial charges and/or the late fees each month and your minimum contribution does not help in reducing the margin substantially. You should always stress in contributing a fairly large portion through your savings.

debt consolidation program puts control in your financial problems and thereby erases the debt within a considerable portion of time. Through this program, all your late fees and financial charges are erased because the consultant tactfully negotiates with your creditors for the reduced amount. Since the creditors are willing to recover their money, they appreciate your enrollment in the program because they find you contributing a lot for the improvement of your credit worthiness.

http://www.debtconsolidationcare.com/benefits.html

Debt consolidation program does not hurt your credit report in a negative way. It is designed to satisfy the financial needs of the consumers and help them to erase all the negative markings from the credit report. The program will appear in your credit report and it will be clear that though you have faced financial difficulties in the recent past, you have taken active steps to repair your problem.

The creditors report your accounts to the credit bureaus. They will report that you were unable to pay the original amount to them but have certainly cleared your debt with a reduced amount through the debt consolidation program. This is all what will appear in your credit report.

Debt consolidation has been reported as the most popular and consumer friendly program for erasing the debts. It is because of the lower monthly payments and at lower rate of interest that suits the pockets of the consumers. They do not have to stress much in the program. If at any point of time, your financial position improves in the future, you can contribute to clear the debt faster. After all, your credit report is the prestigious financial document and you should take every measure to keep it clean.

Please let me know if I can be of further help to you in any way.

Regards
Roxette