I wrote a guest blog for The Penny Hoarder a few weeks ago – and one of the questions I got, both via email and on Facebook was regarding the part where I talk about using a Credit Consolidation company to help me pay it all off.

Specifically, the questions revolved around whether doing it that way hurt my credit score. It did not.

Having read more about the topic – I now understand why people were asking. Because a true debt consolidation would involve taking out a new loan, in a larger amount so that you could just pay off all the individual accounts and make one payment. Any time you take out a new card or loan, your credit score takes a dip. And of course, if you miss any payments, it will affect your credit score.

But what I did was not that at all.

I used American Consumer Credit Counseling (now Consumer Credit), and here’s what happened when I called them.

I explained my situation. I listed my cards, how much I owed and what my payments were. They spoke to me about how I got into debt (no judgement) and we worked out a rough budget.

Then they called all of my card companies and negotiated a lower interest rate + a fixed payment amount.

When that was all done, they let me know what my monthly payment would be. Unfortunately it was fairly close to $1000/month – but I didn’t have any choice. It had to be that amount to pay it off on the timeline they established. The goal was to pay it off in 64 months. I did it in right around 24.

And in the end, my credit score was off the charts. Even with all my credit card accounts being closed – I had no ill effects from using this company to help me manage my debt. I cannot recommend them more highly.


FYI, I’m going to start a little program. It’s gonna last for thirty days – and it’s going to be cheap. There will be weekly videos and worksheets. There will be a Facebook Support Group. And there will be Q&A.

I’ve been wanting to do this for awhile – but I am not a financial guru, so I tell myself that I have no business doing it.

And that’s true.

But I paid off $64,000 in credit card debt in two years. And if I did it once, I can do it again. And I can show you how I did it.

If you are interested in joining the program – I’m planning to start it on January 1st. Drop me a line and let me know you want in.

More Blog Posts

Recents Posts

5 Ways To Improve Communication In The Workplace

5 Ways To Improve Communication In The Workplace

Poor communication is one of the leading causes of workplace conflict. When employees can't or don't communicate effectively with each other, it can lead to confusion, frustration, and even hostility. The good news is that improving communication in the workplace is a...

Three ways to motivate your employee

Three ways to motivate your employee

When running a business, motivating your employees is extremely important. Employees are the heart of any business. They help with generating sales, looking after the administration, helping with the production of your products like the staff would for these gummy...

Keep Everyone In Your Business Safe

Keep Everyone In Your Business Safe

As a business owner, you will always have a duty of care to anyone visiting your business property. That’s why it’s important to make sure that you do take the right steps to protect them. Here are some of the key suggestions.  Secure Dangerous Areas  First, you do...

Call To Action

Let’s Get Started and Start Building Great Websites

Subscribe Section