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How can I get a debt consolidation loan? Everybody’s turning my husband and I down for too much credit?

admin — Fri, 20 Jan 2012 07:15:29 +0000

My husband and I are trying to straighten out our finances because we have a lot of debt (credit cards mostly) and we want to buy a house. Everyone tells us that getting a a debt consolidation loan will help because we can combine all of our debts into one monthly payment, but we kept getting turned down or offered a low amount because we have too much credit being used. What’s the point of a debt consolidation loan if your too much in debt?

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Debt Consolidation Help for You

admin — Sun, 30 Oct 2011 21:27:23 +0000

Are you finding your bills getting out of your control? Take professional debt consolidation help. Instead of paying for different bills a month, debt consolidation can combine all your bills into one to manage bills and at the same time reduce the interest rates you are paying. Debt consolidation help implies consolidating your monthly bills and reducing interest rates.

Debt consolidation is a simple process that involves combining all unsecured debts, such as credit cards, medical and insurance bills into one monthly payment, which is substantially lower than the combined payments a debtor is currently making. Debt consolidation works by allowing you to pay a fixed amount to the consolidation company and in turn, the consolidation company gives them the authorization to make payments to the creditors on your behalf. For its part, the consolidation company negotiates lower interest rates with the creditor and sometimes, a zero interest rate.

When you are suffering from debt, most creditors will not compromise with you for reduced interest rates and consolidated monthly payments. They will harass you by making calls after calls. Before it is too late, apply for debt management services through a debt consolidation help company. They have specialized in consumer debt help programs and they will make you free from debt in a few years.

Though debt consolidation is not the cheapest way, it is definitely a better way than bankruptcy. A debt consolidation company is experienced enough to make you get rid of debt. A professional debt management specialist can work with both you and your creditors to structure a best suitable arrangement.

Debt consolidation helps a debtor in various ways, such as-

1. Consolidate on monthly payments

2. Management of debt

3. Arrange you to with only one creditor

4. Helps avoid future debt

Debt consolidation helps debtors avoid the much more serious step of declaring bankruptcy. Plan a reasonable budget to make headway on your monthly bills. Avoid late fees, higher interest rates and consolidate the payments. Don’t let your debt be written off as bad debt, you will have hard time in getting any type of loan.

Benefits:

1.      Reducing high monthly payments

2.      Reducing high interest rates

3.      Helps in Stopping bankruptcy

4.      Helps in restructuring your future financially

Various means of debt consolidation:

Hire a credit counselor- You could hire a credit counselor to help negotiate a settlement with your creditors, often at a discount to the total amount due. With a debt counseling company, you have the advantage of paying one bill each month for all your accounts.

Take a debt consolidation loan- With a debt consolidation loan; you will consolidate all of your unsecured debt into one single payment at a reduced interest rate. It will help you in saving as much money as possible and will reduce your concerns and hassles.

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How long should you wait to apply for loans after paying down credit?

admin — Mon, 12 Sep 2011 13:12:17 +0000

I am in the process of paying down my credit cards. I have four cards and currently they all about 90% maxed out. If i have them all below 30% in Novemeber. How long should i wait to apply for a loan to get cheapest rate? Also, I recently opened two new accounts about 3 months old. How long before they will show a positive look on my credit score? Because i read somewhere that opening new accounts has a negative affect on credit at first.
Let me clarify on these four accounts, 2 of the 4 are new accounts.

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What is the benefit of using debt consolidation for credit card debt? ?

admin — Sat, 11 Jun 2011 20:11:53 +0000

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 payoff/settlement amount, or to use a debt consolidation company? If I negotiate with the credit cards directly, will that be considered a charge off? I would want to settle myself if I can to avoid paying all the months of high interest. But if I use debt consolidation, then they will charge me a fee every month for so many years? What is their purpose? What would be the best route to go financially?

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Do debt consolidation companies pay off credit cards that are already in the hands of a law firm/collector?

admin — Tue, 03 May 2011 14:29:21 +0000

Chase filed a law suit against my husband for a delinquent credit card. He never had to go to court but they (the law firm) wanted $300/mt until the card was paid off. We’re still paying on it and it’s a huge budget buster! We only have a few other outstanding/low amount bills. I was wondering if debt consolidation companies would consolidate this Chase bill as well so we can get these people out of our lives!

Repossession

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...
How can I get debt consolidation with hospital bills and non credit card debt? I have a bunch of hospital bills that really cost me in credit scores. I really want to try to consolidate it but I can’t find anyone who does debt...
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...

Can personal loan be taken after discharge from bankruptcy?

admin — Sun, 14 Nov 2010 21:03:25 +0000

My friend was discharged some 4 years ago. Is it possible for her to take a personal loan? Will getting rid of credit cards be feasible or a bad idea?

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Any idea for debt consolidation up to 10 years?

admin — Wed, 19 May 2010 22:00:45 +0000

I have over $88K in credit cards. I went to debt consolidation program and my FICO score went high. My only problem, payment based on 5 years so my monthly payment so high. Do anyone know if someone can do debt conolidation but payments will be for 10 years? I don’t have any equity in my home to refinance

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Will closing ym credit cards help me get approved for a debt consolidation loan?

admin — Sat, 08 May 2010 19:20:07 +0000

I have tried to get approved for a debt consolidation loan so I could have my credit cards and school loan under one monthly payment rather than juggling several payments but I get denied because I have too much credit in my name right now. If I close all the credit cards will this help me get a loan approved? It would make life so much easier if I just had 1 steady monthly payment.

Rent Back Fast

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...
How can I get a debt consolidation loan? Everybody’s turning my husband and I down for too much credit? My husband and I are trying to straighten out our finances because we have a lot of debt (credit cards mostly) and we want to buy a house. Everyone tells...
Do debt consolidation companies pay off credit cards that are already in the hands of a law firm/collector? Chase filed a law suit against my husband for a delinquent credit card. He never had to go to court but they (the law firm) wanted $300/mt until the card...

Are thier non secured loans out thier for people with bad credit?

admin — Thu, 29 Oct 2009 20:48:20 +0000

I have multiple charge offs steming from about 5 years ago, 2 of which are in the process of taking me to court. This was prior to college. I now make close to 68,000 dollars a year, and am in the process of paying 350 a month to a charge off, and 500 a month to old college loan. I currently have 3 small credit cards which I am making current payments on, to establish a recent good payment history. Currently my fica is 609, 561, and 591 respectivly.

After I pay off one of my 5k charge offs, and am no longer in default on my college loans (about 3 more months for both) and continue current payments on my 3 new credit accounts… Do you think I can get a loan for 10thousand to settle with the rest of my charge offs and finally take care of this problem?

Thanks

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What is the best Debt Consolidation Company Out there?

admin — Fri, 04 Sep 2009 07:01:12 +0000

I need to Consolidate a loan and a few credit cards. Whats the best Consolidation Company Out There?

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