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any dc company that lets you keep credit card accounts open even if after payoff?

Date: Mon, 04/25/2005 - 14:32

Submitted by anonymous
on Mon, 04/25/2005 - 14:32

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Total Replies: 1

any dc company that lets you keep credit card accounts open even if after payoff?


Hi. I've talked to two or more [URL="http://www.debtconsolidationcare.com/companies/"]debt consolidation companies[/URL] and they all said that the credit cards that they paid off for you must be closed down (you don't own those cards anymore although you are paying the monthly payment to the debt consolidation company). Is this true for all debt consolidation companies? I talked to SallieMae (from MBNA) and their Goldoption Line of Credit program and they said you dont need to close down those accounts. (but my application was declined).

I would really like to keep those accounts open just in case of emergency. I wouldnt want to get rid of 3 of my 4 credit cards all at once.. (I WILL definitely control my spendings as well.)

Anyways, does anyone know if there is a debt consolidation company other than MBNA that lets you keep those credit card accounts open even if they paid them off for you?

thank you so much


Hi wannabdebtfree

There is logic behind getting your credit card accounts closed when you have chosen the debt consolidation program. The debt consolidation company wants to calculate the total debt before they can come out with any payment structure for you. Some debt consolidation companies advise you not to use your credit cards further and they ask you to submit it to them so that the credit card debt is not revolving. In a way, that card becomes frozen for you.

You can register here at this site http://www.debtconsolidationcare.com for a free counseling and professional help so that you can start making payments of your debts.

Roxette


lrhall41

Submitted by roxette on Mon, 04/25/2005 - 15:01

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