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Posts Tagged ‘debt consolidation loan’

onlinesmartstore.com What Lies In Your Debt – How To Consolidating Debt

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I’m 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.

www.creditcardhelp.net will help you in managing your finances well.

i have about ,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 don’t even know where to begin!!! please all advice can help thank you!!!

I have numerous debts (car payments, student loans, a few credit cards, and a signifcant personal debt owed to a friend) that I’d like to roll into one monthly payment (which would hopefully be smaller than the amount I currently pay for each one as a separate monthly bill).

Some people have advised me to apply for a debt-consolidation loan. My question is, will doing so affect my credit negatively? Do they even include student loans in debt-consolidation?

www.100PercentInfo.com — How To Get A Debt Consolidation Loan 1.Add all your debts. Include all credit cards and loans. 2.Check the interest rate you pay on all credit card accounts and loans. Interest rates (on credit cards will generally run 12-21 percent.) 3.Find a lender. Contact…

Debt Consolidation Loans, a thing of the Past! Stop paying your life away to your creditors… Take control of your finances and apply on line today! We offer credit card consolidation services to help you find your debt relief solution and get out of debt without… debtquotes.com

www.creditcardhelp.net

In desperate need of a kind soul with lots of financial knowledge and a the time to read my story.

Today, I found out the hard way that my wife of 1 year (girlfriend/fiancee of 7 years) is in a LOT of credit card debt. She had managed to keep it from me all this time but today checking the mail I saw something that peaked my interest and confronted her.

After a lot of yelling, cooler heads finally prevailed and I realized the situation needs to be addressed NOW. She has about ,000 in debt racked up among 8 different credit lines, and the interest rate on a couple of them are insanely high (20%!).

I have never had any type of financial issues so I am at a complete loss on how to handle this. As it is, the majority of her paycheck goes to just paying the minimum payments and with the high interest rates, the principal amount is barely going down. The debt will never get paid off this way!

I’ve read mixed reviews about using debt consolidation. Some say it’ll lower your payments and put everything in one convenient bill but some say it’s a total scam and will destroy your credit.

Some say Bankruptcy is a better option but at this point she’s not deliquent on any of her accounts. Like I said, she CAN pay the minimum each month, but it leaves her very little left and the debt isn’t going down very fast.

I’ve also read that you can call the various credit card companies and negotiate a lower interest rate, but I’m not sure they would do this since she’s still paying them every month.

Lastly, I heard going to the bank and trying to get a debt consolidation loan yourself is a good idea. I’m not sure if we’d get enough to cover the debt because I have no idea where her credit is at but so far this seems like the most sane idea.

Ok, that being said, please help!

We have already resolved to buckle down and do a budget. I’ve always been able to keep a budget but she can’t, but that’s going to change now that I actually KNOW about this debt. But right now I’m wondering what the best course of action is to get us out of debt ASAP! It seems that just paying the 8 credit card companies as much as we can every month will work but take a while. I’m in for the long haul but if there’s a quicker way I’m up for it!

Thanks in advance!
Thanks for you quick and concise answer to my debt question, Rick.

Just a follow up regarding consolidation: What if we were to go to the bank and get a loan for ,000 (roughly the amount owed to the credit card companies) and managed to get a lower interest rate than the credit cards? We could then pay off all the credit cards and instead have one loan with the same principal amount but a lower insterest rate. Wouldn’t that essneitally be trading the high-interest credit cards for a lower-interest loan?

Thanks again!