Consolidating Debt Into One Loan

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Consolidating Debt Into One Loan

capoeira!11 Rep Points:

Posted on March 22, 2010 at 1:44 am

I'm thinking of consolidating my debt into one loan but I wonder if I have other options ...

mhm m Rep Points:

Posted on March 22, 2010 at 3:26 am

I'm thinking of consolidating my debt into one loan but I wonder if I have other options ... - hi, you've come to the right place and of course you do! You can do credit counseling or debt settlement - depending on your debt type (unsecured debt only), amount owed, and account status.

Stephanie Says Rep Points:

Posted on March 22, 2010 at 4:19 am

I'm thinking of consolidating my debt into one loan but I wonder if I have other options ... -- hi there, I just want to say that it's wise of you to ask for options, because I think that if one is already thinking about consolidating his/her debt via a loan, it must mean that his/her credit standing is already bad - and obtaining a loan to eliminate it - might make it worse. 1) that means fresh debt (additional) 2) the interest rate would bury the consumer even farther down

Stan Rep Points:

Posted on March 22, 2010 at 4:44 am

Debt relief programs instead of consolidating debt into one loan -- Credit Counseling (Debt Management Plan) - this is ideal for consumers with balances below $10k and with current accounts. - the agency would negotiate the interest rates so the consumers payments can be applied to the principal debt and not just the interest rates. The program runs for 3-5 years.

The Count Rep Points:

Posted on March 22, 2010 at 5:01 am

Debt relief programs instead of consolidating debt into one loan -- debt settlement -- this program is best for consumers with high debt amount, $10k and above, & whose accounts are past due or almost. The program's aim is to reduce the balance to more or less half and help the consumer be debt freewithin a year or three.

The Oracle of Apollo at Delphi Rep Points:

Posted on March 22, 2010 at 5:58 am

Debt relief programs instead of consolidating debt into one loan -- debt settlement (1-3 years) vs. credit counseling (3-5 years) - program length. I have also learned that the drop out rate in credit counseling is higher than debt settlement. And debt settlement's graduation number is higher than credit counseling's.