Will closing ym credit cards help me get approved for a debt consolidation loan?
Zeke asked:
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.
Create a video blog
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.
Create a video blog
Tags: Credit Cards, Credit Help, School Loan
August 5th, 2008 at 7:09 pm
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, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loanold loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so you’ll no longer have to deal with harassing phone calls and daily mail.