| Debt Consolidation Interview with Mr. Tom Quenn
We are here today with Mr. Tom Quenn from Americadebt. He is a special guest who
will be answering questions from your emails. Whether you have a question about
credit counseling, debt consolidation, debt settlement, bankruptcy, or finance
in general, he is here to offer practical advice and honest answers. This page
will be devoted to those questions that relate to debt consolidation.
Debt Consolidation question #1 from Jason in Florida:
Hello. I was wondering what should I look for when choosing a debt consolidation
company?
Tom: That is an excellent question and probably the one I get asked most. It
is also probably the most important. Debt consolidation has gotten a bad rap in
recent years. That's because there are a lot of really bad fly-by-night
companies that have popped up. Debt consolidation is about leaving people better
off than when they started. It is not about taking the public trust and leaving
it with broken promises. To answer your question, you need a company that has
been around for years and not weeks or months. You need a debt consolidation
program that has a clean record with the consumer reporting agencies. You need
debt consolidation that only comes with experience and a priority that is
getting people out of debt and back on their feet. You'll also want
knowledgeable human customer support, not an online or automated system. I know
we all hate having to push button #1 for this, and button #2 for that, only to
get nowhere. So, I would say in a nutshell, that finding a good company is just
a matter of doing your homework and checking them out. That is the most
important thing. I hope that helps!
Debt Consolidation question #2 from anonymous in Texas:
I think I really messed up. I live in Texas and signed up with a Texas debt
consolidation (I thought they were in Texas) company that has one of those
religious names. After reading one of your articles, I checked them out. It
looks like they used to have a debt consolidation place with a similar name and
after a while and a lot of complaints they shut down. I think that this company
owner was the same as the one that closed. What can I do?
Tom: I'm sorry to hear about your situation. I can not stress enough for
people to satisfy their due diligence. You wouldn't go to the doctor for a major
issue without asking questions, right? The government has been cracking down on
a lot of these so called "non-profit" debt consolidation agencies. As far as
your dilemma, you need to find another debt consolidation company...fast! Texas
debt consolidation should offer the same benefits as in any other state. You
never said how long you've been with these people. You may have to take your
loses and get out while you can.
Debt Consolidation question #3 from Judith In California:
Hi and thank you in advance for answering my question. I have very high interest
rates on 5 credit cards. I'm not really making a dent in the balances each
month. Is debt consolidation good for me?
Tom: Thanks for you question Judith. Just to clarify, debt consolidation as
most people use the term these days, is actually credit counseling. Debt
consolidation technically describes getting a home loan to pay off debt and
consolidate bills. Anyway, as to your situation, your benefit from a program is
hard to say without more information. The fact that you have high interest rates
and don't make much headway each month is a good indicator that you do need
help. You should contact a good company in order to find out which option might
be best for you. It could be debt consolidation. It could be debt settlement. It
could be something else.
We would like to thank everyone for asking such practical questions about
debt consolidation. We will be adding more of your questions along with helpful
responses as time goes on. If you would like to speak to Tom, feel free to
contact him at (888) 860 - 3328 or
http://www.americadebt.net
Thank you. |
