how to qualify and where is the best place for debt consolidation loan?
i have about $5, 500. 00 in credit card debit. i am 22 and two out of the seven accounts happen when i was 18, the other five happen after i was laid off from work approximately a year or so ago no more then 18 months. i have no idea how to qualify or where to even look for a debt consolidation loan. i really need help out of this very bad hole i made for myself i do not even know where to begin! please all advice can help thank you!- Although you MIGHT get lower monthly payments, the overall cost will be higher over the lifetime of the consolidation loan. You will be extending the payoff times to something like 5 years - costing you more interest. $5, 500 is not really such a bad financial hole. You do not say how much per month you are paying on these cards so I really can not recommend anything. Look at your balances. There are three schools of thought. a. Work on paying off the card with the highest interest. That will save interest charges over the life of your debt. Pay the minimum monthly payment on the other cards. b. Work on paying off the card with the lowest balance. That will free up extra money sooner to apply to the next lowest balance. Pay the minimum monthly payment on the other cards. c. Work on paying off the card with the highest monthly payment. Like b above, it will free up extra money sooner to apply to the next highest monthly payment. Pay the minimum monthly payments on the other cards. B & C will cost more in interest than A would, but not any more that if you did nothing. Any choice you make will not cost as much as getting a consolidation loan
- Sorry, but as I found out, debt consolidation loans or debt companies do not usually work well. If you do not currently have any income coming in then you can not get a loan. If you are working, then I would suggest that you focus on one credit card at a time to pay off. If you are not working and can not make your payments then bankruptcy is always an option. No matter what, I would get rid of at least half of your credit cards, you do not have to close the accounts but I would get rid of the cards so you do not get stuck in the credit card trap
- Try a local non - profit credit counseling service. Their fees are minimal and they will offer some education in money management as well. Avoid trying to do anything like this online. Scams abound and you will end up worse rather than better. Meanwhile, consider getting a second job to help you pay off this debt so you can make a new start
Knowledge Base
Give the benefits of debt consolidation loan?
i am planning for a debt consolidation loan. i want to know the benefits of the debt consolidation loan. google: debt consolidation complaints, scam, rip - off. please do this for me - do your research. there is nothing these companies can do for you that you can not do (bad credit debt consolidation)
Where do I look to find a debt consolidation loan?
where do i look on the internet to find the best debt consolidation loans? what are the best sites to look?. the fact that your question attracted not one, but four, spammers should give you a hint. asking for a debt consolidation loan is like dangling your arm into shark (debt consolidation loan)
Is Debt Consolidation a good thing for my credit score or will it damage it ?
being a recent grad and not in my prefered area of employment is rough, as it is for many recent grads. my dilemma is my finances. my poor financial decisions i. e. credit card debt in college has caught up with me and it is racking my brain. i have (bad debt consolidation)
Knowledge Base: Debt Consolidation
Give the benefits of debt consolidation loan?
i am planning for a debt consolidation loan. i want to know the benefits of the debt consolidation loan. google: debt consolidation complaints, scam, rip - off. please do this for me - do your research. there is nothing these companies can do for you that you can not do (debt consolidation)
Which is secured debt consolidation loan?
i am planning to take debt consolidation loan but want to know some information. how can i find the secured debt consolidation loan?. practically any type of loan can be wrapped into the debt consolidation process. common types include finance charges, late fees and overdraft charges, credit cards, personal loans, (free debt consolidation)
Is there any really "FREE" help services for debt consolidation? I need help but short on cash!?
i am afraid most of the ads i have seen charge a big fee for these services. has anyone tried any that were free and if so please give me website or names. consumer credit counseling charges a nominal fee if you can afford it. they are run by the (free debt consolidation)
Where do I look to find a debt consolidation loan?
where do i look on the internet to find the best debt consolidation loans? what are the best sites to look?. the fact that your question attracted not one, but four, spammers should give you a hint. asking for a debt consolidation loan is like dangling your arm into shark (bad credit debt consolidation)
Does getting a debt consolidation loan help my chances?
my fiance and i are trying to buy a house. but no where will give us a loan because he has such horrible credit. will getting a debt consolidation loan help his credit enough to be able to get a home loan? also the things that are bad on his (credit debt consolidation)
Knowledge Base: Debt Consolidation Loan
Does getting a debt consolidation loan help my chances?
my fiance and i are trying to buy a house. but no where will give us a loan because he has such horrible credit. will getting a debt consolidation loan help his credit enough to be able to get a home loan? also the things that are bad on his (debt consolidation loan)
I need help with debt, who will approve a Debt Consolidation Loan?
i am am not very far in debt but need help getting back on my feet. everytime i apply for a debt consolidation loan i am denied. who would approve me? does anyone know. practically any type of loan can be wrapped into the debt consolidation process. common types include (debt consolidation loan)
Anyone know any good way to get a decent debt consolidation loan?
i want to get a debt consolidation loan, without using my home equity, but they are telling me my credit score is great, but by ratio is too high. well, i want to consolidate all the cc debt i have, but it's running me in circles. what's the point of (debt consolidation loan)
Give the benefits of debt consolidation loan?
i am planning for a debt consolidation loan. i want to know the benefits of the debt consolidation loan. google: debt consolidation complaints, scam, rip - off. please do this for me - do your research. there is nothing these companies can do for you that you can not do (debt consolidation loan)
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 us that getting a a debt consolidation loan will help because we can combine all of our debts into one (debt consolidation loan)
