debt consolidation
Out of context: Reply #10
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for those crying "RIP OFF," you guys are wrong - at least with Genus (www.genus.org).
i've been with Genus for the past 5 years, and i can tell you right now that the shit works. my last payment is in March, and after that I'll just have school loans.
they work with your creditors to lower your APR. it's not a scam. in some cases, as with Discover Card, my APR went from 18% to 0%. others went from 21% to 6%. some remain unchanged. it depends on the creditor.
as for showing negatively on your credit, that remains to be seen. my credit rating is 750+, which is pretty decent. and yes, it does show that you're in a "credit counseling program" on your credit history.
keep this in mind - when you're in the program, you can't use any cards that are tied to it. so keep your lowest-balanced card for emergencies only.
anybody that has any questions, just email me.