Archive for February, 2009

What are the advantages and disadvantages of debt consolidation?

Thursday, February 19th, 2009

jimmyaven asked: I have two credit cards that I have used over 5 years ago and never paid back. The total of the two cards FIVE YEARS AGO was $1000. Of course, by now, it should be close to $3000 because of all the interests.
What does debt consolidation do? More importantly, can it REALLY remove [...]

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What exactly happens to your credit if you do debt consolidation?

Friday, February 13th, 2009

monkeyundermypillow asked: I have $7,000 in debt and I have heard about debt consolidation. Does this negatively affect your credit rating? Do you get to choose how much you pay monthly or is there a set amount they make you pay? I live in Canada, if that matters.Suzanne

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