Wage Assignments: When does this Happen?

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Posted by: High Priestess on 07/04/07:

I signed up with a debt consolidation company because I had 6 credit cards with high interest rates and the payments were more than I could handle. They were good to me and for a year I had no problems paying them the amounts asked, however I ran into some financial difficulty lately and I can not even pay the debt consolidation company. I called them and explained and was told to pay what I could especially the credit card companies that had already threatened to drop me from the debt consolidation program. I sent in a payment, but it was not the large one that I usually pay. Again, after payday I realized that the next month I could only afford to make partial payments to the debt consolidation company. What happens if I can not keep up? The creditors position is what I am interested in and will they all start wage assignments immediately or what should I expect from them? What will the debt consolidation company do?

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Be careful when considering using companies offering credit counseling and debt consolidation services. Do a little reading to learn from other peoples experiences with debt consolidation and credit counseling. Then you can post questions here to get even more information about either credit counseling or debt consolidation.
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