Iare his debts more than 5k?
is he struggling?

if yes then he should seek some advice – i heard one on the radio – National Debtline – free advice and management – apparently the ones that charge are bad news.

Google national debtline and tell him to get some advice.

with the recession and all this is kind of the norm and what people are doing to get in the clear.

good luck

fSI've heard so many complaints about these companies, I would not know where to start.
Never trust anyone that contacts you.
They charge you money (make serious profits), and don't do much for you.
You can do anything yourself.

Educate yourself.
Spend a day at the library or bookstore and read up on credit repair.
There are chapters on how to get the interest rate down, and how to negotiate with card companies.
Google the name of the company you are considering followed by the words:
complaint, scam, or rip-off
If there is no info on the company be careful, its new.
They change their name frequently.
/No. First, STOP using credit. Next, pay the minimum on all but the largest debt – and pay off principal in addition to the payment on the loan, if it is allowed. As soon as the largest debt is paid, apply that same amount to the next debt and so on. He will only ever be paying as much as he can – no change in payments.Dont go to a company that charges. Consumer Credit Counselling Service does it for free. But its only a short term fix. Six years is ridiculous. Try to get your loans and credit cards cancelled by using the law against the companies. I did. Go to www.bdebtfree.info and they will sort it for you. And if you are successful it wont affect your credit rating. Good luck.No.
It will ruin his credit for several years.
If he pays extra on any of the cards he should put any and all extra towards one of the cards at a time to bring down the principle quicker. Once its paid off he should then take all of what he was paying (from the paid off card) and put it towards the next card including the minimum payment from the second card he was originally paying, increasing the minimum payment. (old payment including the extra+ second cards minimum) Once all the cards are paid off, take whatever amount used, and add it to the minimum payment of the bigger loan.
If he does this then he will create what is called a snow ball effect, which in return will save him the money the company is going to charge him. He will get out of debt sooner than he thinks, save possibly hundreds of dollars, and use no new money.
I have used this program for several of my clients, they love it and takes them out of debt several years sooner. If he is not paying any extra money then he should add at least 20, keep in mind that the more you add the faster youll be out of debt. If you want the plan to work it must be consistant, every month.
Tip: after all debt is paid off, invest the money and it will make you money. ex…total he pays (500) in debt plus added amount (50) in a well managed mutual fund averaging about 12% will indeed over time give him a great return…30 years = 1,900,000 or 20 years = 549,500 or 10 years = 127,000.
* seek advice from a professional. Good luck!Your partner would end up paying almost half as much by having the debt management company negotiate his debts lower by claiming he cannot pay, which will give him a bad credit score as you stated.

I would not do it because it is an ethical thing. I promised to pay a set amount for a car and in order to get a credit card, promised to pay everything I charged to it. On occasion, I have made mistakes and tried to end a payment plan by returning something or cancelling the service. Otherwise, I will pay the whole amount as previously agreed. I have never ran into a situation where I simply could not afford something and apparently he has not either. He was just approached by somebody who can lower his payments.

Think of this in other terms. Let's say he agreed to marry you and be your exclusive partner for life. Then later he says he won't be home every night because another woman approached him who said whenever things get tough at home with you, he can just go spend a few nights with her. Wouldn't you agree it would be better for him to either keep his original agreement entirely, or return you to the dating scene and end the agreement?

 

The best information for consolidate my debt