Corona asked:



The pros and cons about using them thanks.


Kelly

Syd asked:



My boyfriend and negative please help me we commit so we want to hear feedback for debt consolidation company that is not sure what research to do before we want to step forward in our relationship but financially cannot until our relationship but financially cannot until our relationship but financially cannot until our relationship but financially.


Cathy

asked:


I am confused. What is credit card consolidation? What is loan consolidation? What is a debt consolidation loan?

Nathan

alleycat97470 asked:



The collection agency the company who was supposed to stop creditor harassment the collection agency and now mentally impaired they were contacting.

The company who was seriously injured and now mentally impaired they have friend whose husband was seriously injured and now mentally impaired.


Edward

miamiofoh asked:


My parents have a credit score above 720 and mine is lower (620s), so I want to ask them if they’ll co-sign a consolidation loan for my student loan debt ($89,000). How much will it affect their credit score if they cosign? I’ve never made a payment late or gone over the limit on my cards, I just don’t have a very long credit history.
teriod: You’d think $89000 in school debt would mean getting a good job, wouldn’t you? It’s actually my husband that has the debt and he went to one of those “for-profit” career schools that’s not even regionally accredited, so all he can get is a job that pays $10.50 an hour. I wish I’d had control of our finances when he decided to go to that horrible school, I would’ve told him to just go to a state university- better education for a fraction of the price. Oh well, that’s life.

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Dan W asked:


Is it possible for me to get a loan for some credit card debt? I have established credit and it is not the greatest but Im about 6,000 in debt with credit cards. I make about 2,000 a month take home and was looking for a loan so I can make one payment a month and pay off the high interest cards in the mean time. Any recommendations anyone?

debt consolidation loan

hilleyrakes asked:


Does anyone really know?
Also, it’s for an educational loan, not something else.

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Ivan S asked:


Not credit counseling, but debt consolidation loan. Can’t find any good info on the web, so your educated opinion would be helpful. What are credit requirements, home equity requirement, debt service ratio and other factors?

If you know a good resource that would be very helpful as well!!

Thanks.

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Michael Moore asked:


Debt consolidation refers to consolidation of one’s multiple debts into one single debt. This enables the borrower to repay to just one creditor instead of several creditors, thus making the job a lot more convenient. Also, the rate of interest is greatly reduced and hence this is a viable option. It is considered extremely effective when dealing with several debts as well as a bad credit history.

The amount that can be borrowed with a debt consolidation loan varies from £5000 to £75000 or greater, depending on the equity of one’s home. As can be guessed, a debt consolidation loan, which is usually secured, can even be of unsecured type with a higher rate of interest. The repayment term for a debt consolidation loan is 3 to 25 years, depending on the amount in question and the repayment capacity. To get the best debt consolidation loan, one needs to put in ample research. This research work is minimized if it is done online. Ready comparisons are available between different debt consolidation loan giving agencies and the process can be extremely convenient. All one needs to do is to fill out a form on the basis of which a credit score is calculated. This credit score determines the rate of interest that one might have to pay. The better the credit score, the better the interest rate.

The approval for a debt consolidation loan can take up to 12 to 15days. Once the value of the collateral is judged, the loan approval is swift.

Also, being secured loans, the rate of interest involved is much lower and the repayment term is much longer thus ensuring small repayment installments. This improves the credit score because timely payments are made possible. The rate of interest may vary from 7.9% to 15.9%.Bad credit is not much of a problem with respect to a debt consolidation loan as there are many agencies that specialize in working with people with a bad credit score. Debt consolidation loans can help people with a bad credit deal with their financial issues. These debt consolidation loans help one deal with multiple debts, bad credit and help manage one’s debts and improve finances. One must however make sure that the loan amount is affordable and that it can be repaid on time. Debt consolidation loans are very helpful, but you must take only as much as you need.



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