Credit Union Debt Consolidation

I have two credit cards that is at maximum and can not make progress by paying the minimum payment when ALL I can. It is at the point now where I'll go a month without pay and I just started racking up bullsh * t what cost me even further into debt. I need help and I heard that you can consolidate debt through a credit union. I was wondering if anyone here has done this and what their experience has been?

T it drastically effect my credit score? Do I have an account at the credit union to do?

Credit unions offer much better rates than banks or credit cards, but to be approved for a loan, you must be a member.

Since you said that you missed some payments on your credit card, most likely your credit has suffered. This will most likely need some kind of collateral before a credit union must approve such loan.

Regarding your score is concerned, if you're approved for the loan all you're really moving debt from one place to another then there should be no real impact on your score.

All I can say about the fees is you have read the terms and conditions before signing the contract law?

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You must be a member of a fund to borrow from him. This means that buying a share or fractional share, and many credit unions are now allowed to have members from anywhere (you used to have belonged to the group served by CU). It would be out of your loan if you're new and your loan application is accepted.

Credit unions are usually better to give their members the best interest rates, but they are the banks and can not give money to people who do not pay their debts. Check your credit reports (all 3) and get your credit score (s). Then call your GPs region and ask them if they would consider you however you need.

They will ask you to deposit your payment by direct deposit into an account with them and to authorize direct debit payment of your loan. The fine print says the account collateralizes the loan, or they may even explicitly obtain a lien on the amount of your deposit, which must remain at a minimum.

If you get the loan, it should improve your score a bit, but only regular payments over time will really help. If you can not pay both cards out now, what makes you think you'll be able to pay a loan which will include more interest?

The fees may be bullsh * t, but you agreed to when you took the card, then you should consider how you manage your money on your own. Get help managing debt, and I do not mean places of debt consolidation. I mean places that teach you what to look for in loan or credit card and what to avoid, and how the budget