I have gotten into a real bind with payday/installment/finance loans...?

Question

I am currently speaking with Progressive Loan Assistance to get these items consolidated...is this a good company...do any of them really help...I really need to get from under this murderous debt...it is literally killing me...Help!!!

Judge Julie · Accepted Answer

Any consolidation can help - but you must be sure that they're actually paying off your debts - some companies just take your money FIRST, and then don't pay off your debts trying to get your creditors to lower the payments or forgive the interest or get them to settle for 10cents on the dollar.   You could do this yourself - by explaining to your creditors that they'll be better off accepting your offerings (of less than minimum payments) so that you don't have to declare bankruptcy.  If these debts are mostly credit cards - then you have a chance.  Return the cards, beg them to stop charging interest and you'll be able to make regular monthly payments.  You can wreck your credit alone, you don't need a consolidation company - because unless they are NON-PROFIT types - they'll screw you and your creditors.

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I have gotten into a real bind with payday/installment/finance loans...?