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Posts Tagged ‘consolidation loan’

I am becoming overwelmed with debt and do not qualify for a consolidation loan. What are the consequences to joining one of these programs? Can anyone give me additional resources? I have been searching the net, but all I seem to get are advertisements for different companies. I am searching for detailed information on the programs in general. HELP!

I have close to 20k of unsecured credit card debt from different creditors. Some of them have been willing to cut the balance in half in order to settle the account. Should I attempt to individually settle with them? Or do I take out a consolidation loan for 20k?

I just finished grad school with a significant amount of credit card debt (approx ,000) spread amongst three cards. They were student cards when I opened them so the interest rates are disgustingly high. My three banks cannot currently lower my interest rates even though I have graduated and got a good job making a decent salary.

I am not fool and I want to pay these cards off as quickly as possible at the lowest rate possible. I am interesting in learning more about credit card consolidation services.

Mostly I want to know how using one would affect my credit score. My score is good (low 700s) and I do not want to affect as I hope to buy a home in the next 2-3 years.

Does anyone know the effect of debt consolidation and does anyone have recommendations for reputable services?
thanks!
I just finished grad school with a significant amount of credit card debt (approx ,000) spread amongst three cards. They were student cards when I opened them so the interest rates are disgustingly high. My three banks cannot currently lower my interest rates even though I have graduated and got a good job making a decent salary.

I am not fool and I want to pay these cards off as quickly as possible at the lowest rate possible. I am interesting in learning more about credit card consolidation services.

Mostly I want to know how using one would affect my credit score. My score is good (low 700s) and I do not want to affect as I hope to buy a home in the next 2-3 years.

Does anyone know the effect of debt consolidation and does anyone have recommendations for reputable services?

(To be clear, I am talking about a consolidation LOAN not a consolidation management program. I understand the difference)

I am not referring to a consolidation loan, I am refer to the services that take your bills and lump them into one monthly sum. If you have had a good experience, which company did you use?

What is a good debt consolidation company that will negotiate what you owe by negotiating with the creditor, and then you owe less than before to each creditor, but you owe them for one big new loan , to them for paying your debts?
So they are getting your debts down by negotiating and then give you a consolidation loan to cover the amount owed to them now?

Most debt consolidation companies do nothing better than simply ruin your fico score in order to settle your debt. If you really want to work with an agency that will help you reduce your debt, contact a company member of “CONSUMER CREDIT COUNSELING SERVICES” (CCCS) More info at: sccrealestateuncensored.com/2008/repair-credit-legally-remove-negative-accounts/ micasamidinero.com/2008/reparo-credito-eliminando-legalmente-cuentas-negativas/

I recently purchased a home (3 months ago) and financed 100% of the home. At this point I do not have an equity in the home. I am currently looking for a way to consolidate some of my debt to lower my rate, lower my payment, and ultimately pay off the debt sooner. I have 1 car loan, 1 personal loan, and 5 credit/store cards that I would like to consolidate totaling about ,600. My FICO score is currently 686, and I am on time every month with all of my bills. I have paid all bills on time (most of the time more than the minimum) for more than 3 years straight. My problem is that my Debt to Income ratio is probably too high for most lenders to consider me for a consolidation loan. What can I do to consolidate ALL of my debt? Any feedback would be appreciated.