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I Need To Consolidate $30000 ASAP – I Need A Good Debt Services Company

This consumer is actually pretty typical in terms of his credit card debt. He has a job as a waiter and is trying out for parts in various commercials in Hollywood etc. He believes if he is successful, his problems will be over, but in the mean time needs to address his $30,000 in credit card debt. He is looking for a good debt service company.

We calculated what his monthly payments would be over a 5 year term at 21% interest in the chart below. Not only are his monthly payments $200 a month more expensive compared to a personal loan with the same term, he is paying over $10,000 more in interest charges over a five year period. This really illustrates just how important it is to pay your credit card bills every month in full and not let the balance build where you begin to incur interest charges.

If this consumer can arrange for a debt consolidation loan at a much lower interest rate, he will save thousands of dollars over the five year term. It is really something that he should act on right away with the help of a debt service company.

His credit rating is not great, however he should be able to obtain a loan with a reasonable interest rate. He has been on time with all of his other expenses. His current credit rating is effected by the number of cards he has and the amount he owes. He needs to make sure that he does not miss any payments ever. Otherwise his credit rating will tank and make it very difficult to find a competitive interest rate debt consolidation loan.

It will still be difficult to meet the monthly payment of $500 plus a month in payments. If he is able to repay the loan without missing any payments, his credit rating will actually improve. Regular payments and paying a loan off with no missed payment dates, will reflect positively on all future loan applications. He will now have a positive track record which all lenders love to see. They want to minimize their risk as well and make loans to consumers who have an excellent track record of repayment.


Home/Mortgage Loan Amount :: $30,000

Home Loan Application and Processing Speed (when do you need the funds):: As quickly as possible, my credit card debt is due at the end of the month and I do not want to incur any more interest charges than I already have

Do you currently have a mortgage? ::no, I pay rent

Bank Name and Branch ::Chase Bank, Lincoln Blvd

What City/Town, State and County do you live in? :: Santa Monica, California

Zip :: 90291

What is your employment field? :: Restaurant Business

Employment Position :: Waiter and Struggling actor

When are you paid? (monthly/weekly/biweekly):: Weekly

Your credit rating to be – excellent, fair, or bad? :: right now, not very good

How did you find us? :: Looking for online debt consolidation

How are you paid? (direct deposit/paper check):: cash and direct deposit

Gross Amount Per Paycheck ::$300 +300 tips in cash

Do you agree to have this information published online, without your PRIVATE information of course? :: sure no problem

Extra information here please (some detail):: Hi, I have $30,000 in credit card debt that I need to deal with ASAP if I am to reduce or eliminate the high interest charges that I am currently paying. There are four credit cards and they are all charged up to the max. They all have interest rates at 21%  and the interest and the monthly payments are just killing me. I desperately need help to reduce the monthly payments to something I can afford and a plan to repay or consolidate the debt to more manageable levels.

I have heard that a debt services company can sometimes find lenders that will help consolidate this kind of debt and sometimes even arrange to have the total debt reduced. While I am not really looking for debt relief in that sense, any help you can provide or suggestions you can make will be much appreciated. The monthly payments are really high and when I make a payment, the amount of what I owe is reduced very little so my interest charges are still really high. I pay more in interest than what I pay in principal.

Note to Lender :: I am a struggling actor looking for the next big thing. I work as a waiter, live on minimum wage and tips while trying out for commercials, TV sitcoms and movie parts. I have had a few commercials, but nothing big yet or one that pays a lot of money. Right now it is my job that is paying the bills. If I land a part on some program, I will be in the money. However right now I have to face reality and deal with the debt I have.

I plan to pay it off but need help consolidating the credit card debt or even reducing the debt. Do you think you can help with my credit card debt?