Comments on: A Gentle Scream! http://www.enemyofdebt.com/2008/07/a-gentle-scream/ Motivational Money Management Wed, 08 Feb 2012 06:09:15 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Giving Advice: Is It A Good Or Bad Idea? | Enemy of Debt http://www.enemyofdebt.com/2008/07/a-gentle-scream/#comment-1235 Giving Advice: Is It A Good Or Bad Idea? | Enemy of Debt Fri, 07 Nov 2008 01:23:55 +0000 http://www.enemyofdebt.com/?p=165#comment-1235 [...] the results of the poll (MyTMMO Forums) seem to be the opposite of the advice I got when I posted my blog about Debt Consolidation. Most people told me to stay out of it unless my opinion or advice was asked for. In fact people [...] [...] the results of the poll (MyTMMO Forums) seem to be the opposite of the advice I got when I posted my blog about Debt Consolidation. Most people told me to stay out of it unless my opinion or advice was asked for. In fact people [...]

]]> By: Brad Chaffee http://www.enemyofdebt.com/2008/07/a-gentle-scream/#comment-712 Brad Chaffee Wed, 30 Jul 2008 03:25:46 +0000 http://www.enemyofdebt.com/?p=165#comment-712 Yeah we did one too and it lead to a refinance because the interest rate was so high and the monthly payment was ridiculous, not to mention the fact that we were paying so much money to have someone else to do what we could have done. You know...the debt snowball! :) Yeah we did one too and it lead to a refinance because the interest rate was so high and the monthly payment was ridiculous, not to mention the fact that we were paying so much money to have someone else to do what we could have done. You know…the debt snowball! :)

]]> By: Melinda http://www.enemyofdebt.com/2008/07/a-gentle-scream/#comment-708 Melinda Tue, 29 Jul 2008 14:43:47 +0000 http://www.enemyofdebt.com/?p=165#comment-708 A couple years ago, BD (Before Dave), we did a consolidation. It didn't take long before we had credit card balances run up again. Not to mention now we owe about $20k more on our house than it's worth, and are making ridiculous payments at 13%. Unfortunately we are stuck now because we can't get the house appraised for enough to roll that 2nd loan into our 1st to lower the rate, so we are just having to suck it up. However, thankfully FPU came along and we are done with credit cards and there is an end in sight. Debt consolidation is NOT a good answer to anything! A couple years ago, BD (Before Dave), we did a consolidation. It didn’t take long before we had credit card balances run up again. Not to mention now we owe about $20k more on our house than it’s worth, and are making ridiculous payments at 13%. Unfortunately we are stuck now because we can’t get the house appraised for enough to roll that 2nd loan into our 1st to lower the rate, so we are just having to suck it up.

However, thankfully FPU came along and we are done with credit cards and there is an end in sight.

Debt consolidation is NOT a good answer to anything!

]]> By: mikki http://www.enemyofdebt.com/2008/07/a-gentle-scream/#comment-705 mikki Mon, 28 Jul 2008 10:22:53 +0000 http://www.enemyofdebt.com/?p=165#comment-705 I agree debt consolidation doesn't really help if you haven't done a budget, committed to never borrowing money again, and living on less you make. Most people don't commit to any of those things which is how we end up in more debt than we started with. Maybe this is one reason why people are losing their homes even???? I believe consolidation is a rip off, sure you don't have payments but now you end up dragging around a large house payment thats bigger than molasses!! plus if you ever need to move away downsize or upgrade in house, you would not be able to because your house is worth less now because you added a heap of debt to it!! I encourage you to run from this please!!! total rip off and as much as they claim they are helping you they are not!!!! I agree debt consolidation doesn’t really help if you haven’t done a budget, committed to never borrowing money again, and living on less you make. Most people don’t commit to any of those things which is how we end up in more debt than we started with. Maybe this is one reason why people are losing their homes even????

I believe consolidation is a rip off, sure you don’t have payments but now you end up dragging around a large house payment thats bigger than molasses!! plus if you ever need to move away downsize or upgrade in house, you would not be able to because your house is worth less now because you added a heap of debt to it!!

I encourage you to run from this please!!! total rip off and as much as they claim they are helping you they are not!!!!

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