Where can I get a low interest loan for debt consolidation?

Question:

I have about $10,000 in credit card debt. The cards have been distroyed for about 9 months. I always pay more than the minimum amount due, never late payments etc. I cannot seem to make any headway. I pay almost $400 a month combined and it hardly does a thing. I have tried to apply for low/no interest cards to switch the balances but because I have too much "revolving credit" they turn me down. Then each inquiry into my credit to try and solve my problem also causes red flags on my credit report. My credit score is around 660 last time I checked. I am not a deadbeat; I am working really hard to fix this. I contacted debt management and they told me because I have decent interest rates and I am making payments they cannot help me. Is there some moderately weathly person who would personally lend me money at a low interest rate? I just dont know what else to do.

Answer:
First of all, I commend you on not using your credit cards for the past 9 months. You seem to have a grasp on wanting to get out and you aren't racking up more debt. You said you destroyed the cards, just make sure you do not close the accounts.

What are your interest rates currently at? Have you called your current cc companies if they would lower your current rates? Go to http://www.bankrate.com/brm/news/cc/2002... for more info.

I suggest going to Oprah's debt diet site. She has some helpful tools to help you. http://www2.oprah.com/money/debtdiet/mon...

You also need to evaluate your monthly expenditures. I suggest setting up an Excel file where you list out your monthly expenses from your rent/mortgage down to your groceries. Do you have cable, eat out, going to movies etc? If so, those are luxury items, if you want to pay them down I suggest you cut out these type of expenses if you want to get your debt down. Once you see where you are spending your money, you will be astonished, $3 here, $5 there..who knew it went so fast.

I know that it seems like such a huge mountain to conquer, but with time and discipline it can be done. You are on the right track with trying to get balance transfer credit cards. Don't worry about your credit score, either. As long as you make your monthly payments on time, you will be able to raise that up again.

try this...

America Lending.

http://www.anrdoezrs.net/click-2039760-1...

Are you a homeowner? That's the cheapest way of doing things. I'd avoid credit counseling services, because you're making the payments and consumer credit counseling looks almost as bad as bankrupting on your credit report.

You can NOT borrow your way out of debt.

First, make a monthly budget and live by it.
Second, List your debts, smallest amount ot largest. Attack the smallest and only make minimum payments on the other.

When you start paying them off and crossing them off your debt snowball list, you will get a feeeling of accomplisment.

See Dave Ramsey's website. My wife and I took his class and are "DEBT FREE"

If you want to get out of this, the first thing you have to do is to make a budget : http://financialbasics.blogspot.com/2006...

Then you have decide a total amount you want to devote to paying off your credit cards, but there's a catch. Paying a little more than the minimum of each one of them will not cut it. Pay the minimum on all your cards except for the one with the highest balance. On that particular card, make the largest monthly payments you can afford until you pay it off. Repeat the process as many times as you have credit cards. The beautiful thing is that as you pay off your first credit card, the amount of money you can use to pay off your second credit card is greater, and so on.

In my opinion, this is how you should go about it.

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-cons...

if it helps kindly remember me in your voting!.. cheers!

Where can I get a low interest loan for debt consolidation?

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