Jun
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How does this sound? Does it seem true that banks view debt consolidation as a bankruptcy? Will you be able to
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should my husband and i settle our debt or should we go through a debt consolidation?We are about $2300.00 in debt with alliance one and i think $900.00 in capitol one. We have a debt consolidation with Federated Financial. But I was thinking that maybe...
What is the benefit of using debt consolidation for credit card debt? ?What is the benefit of using debt consolidation for credit card debt? I am trying to decide to either call the credit card companies myself and negotiate for a lower...
Debt consolidation will leave you with a huge debt ratio, and close all your credit cards?When you consolidate debt, it shows all old debts as being paid, etc, but the one new debt ratio, which is the amount being owed to the consolidation company will...
Is it true that you can request loan forbearance/modification after filing bankruptcy ?Ive read a post somewhere that this lender offered the homeowner loan modification after he filed bankruptcy and the house was included !!Real Estate Professionals...
Debt Consolidation Loans Can Shoulder your Multiple Debt BurdensAre you suffering form multiple debts, all of very high interest rate and can’t find a way to get rid of them? Well, if this is so then debt consolidation...
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2 Comments
June 22nd, 2009 at 9:13 am
debt consolidation is nothing more than getting one loan to pay off all previous loans and then paying off that loan. It doesn’t negatively affect your credit as bankruptcy would as bankruptcy is asking your creditors to forgive your debt after proving that it is impossible to pay them off.
June 22nd, 2009 at 3:10 pm
If you are done with the debt consolidation wouldn’t that mean the debt is all consolidated into one loan? If that is the case wouldn’t you just be paying every month? I don’t know how that could be viewed as a bankruptcy.