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Old 24.05.2011, 23:14
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Good debt consolidation company in Vaud / credit union?

Hi
I have several debts - too embarassed to even write the total amount here but it's a lot :-( Some are act de poursuites and some are act de default des biens.
They are mostly from 2006 when a lot of life changes and incidents left me with a lot of debt I couldn't repay.

My income has gone up a bit starting next month and I really am dedicated to finally sorting out my debt situation in Switzerland. I always put it off and hid my head in the head but I truly will not do this anymore and added to that the extra i will get each month soon is an added incentive.

I have been reading about Dave ramseys methods by the way, very interesting!

I was thinking it would be good to get one loan to cover all my various debts and to have one payment each month. In the states I believe credit unions do this for very little interest? I have seen a few debt consolidation companies in lausanne (i am in canton du vaud) but they seem fishy.

I just looked into both a loan from credit suisse and from migrosbank and they both require that you have no poursuites AND no default de biens so no luck there.....

Anyone have any advice?? Anyone heard of or use a debt consolidation or have a loan to pay off several debts / anything/? I also looked into ''infobudget hotline'' it was useless, and CSP debt plans but they just offered classes for debt management.

thanks a lot! pls let me know if i left out any info.
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Old 22.07.2011, 01:52
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Re: Good debt consolidation company in Vaud / credit union?

anyone??? really still need advice on this

thank you !!
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Old 22.07.2011, 02:04
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Re: Good debt consolidation company in Vaud / credit union?

speak to a debt counselling charity. they can help advise.
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Old 22.07.2011, 08:55
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Re: Good debt consolidation company in Vaud / credit union?

I wouldn't recommend debt consolidation. You will end up paying more. Look at all your debts and pay the one with the highest interest rate rates first.
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Old 22.07.2011, 09:56
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Re: Good debt consolidation company in Vaud / credit union?

Are you currently being pursued by collections agents? If not, then why not just do as MarieZug suggested and pay off the debts in order of interest rate, highest to lowest? It will require more time and effort on your part compared to just turning the whole lot over to a consolidation company, but you will save the fees that consolidation companies charge.

While I don't know if clearing old debts works the same here in Switzerland as in the states, I do know that according to Dave Ramsey, all a consolidation company does is act on your behalf to negotiate settlements with creditors whilst charging you a hefty fee to do so. Why not save your extra income for a period of time then attempt to negotiate the settlements yourself?

Good luck!
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