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How do I consolidate my debt without getting ripped off? |
I messed up my credit (18-24) and the I took my time to repair it. By age 30 I was above 700 and climbing. Then, I bought a business and I am going through the early grind. Destroying my credit along the way. (grrrrr). Where I live, Goodwill Industries has a debt consolidation division. You might look in your phone book and see if there's one where you live. You also might check with the SBA (Small Business Administration) about a business loan. Be sure to go through a non-profit agency that has a record that you can look up. Stay away from the ones that do it for a profit - you will be paying them off for years. Good luck to you. The best way to make sure you do not get ripped off is to get a good faith estimate from who ever you are working with. And then take that good faith and you can compare with other mortgage companys. Make the company your going with show you a good faith estimate and you should be fine. Your best way to not get ripped off is to not consolidate.. at least not with a consolidtion agency. go through your bank where you do your business banking or a agency run by a charity like the goodwill etc. Most people who run "not for profit" dept consolidation companies wind up costing you in the long run. Most all are scams run by collections agencys that get paid by credit card companies to collect debts. Your bank branch manager would be the best to advise you. The better you can build a relationship with your business bank the stonger your business will be in the future. |
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