would you consider Prosper as a good way for debt relief?
Thursday, April 30th, 2009 at
12:21 pm
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Filed under: Free Money Saving Tips Debt Relief
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I've never heard of them either. Be sure to check them out for yourself though. Some of those debt relief companies screw up your credit so terrible that you can't apply for a credit card or buy a house or anything for like 5 years (which is usually why someone is in a debt relief program). Also, it looks like the interest rates and payments are lower, but it's just because the amount of time you have to pay them back is total. So basically, you're just moving your debt and compelling longer to pay it off, PLUS you'll end up paying more than you owed in the first place. Of course, not all debt relief companies are like this, so do some research before you commit to anything. http://www.daveramsey.com/the_truth_about/debt_consolidation_3035.html.cfm\
Have you ever heard of Dave Ramsey? He is a very well known financial adviser and he has fantastic thoughts for how to get out of debt and stay out of debt. He has a book called "Total Money Makeover" and it helped my husband and I a LOT!
http://www.daveramsey.com/