Debt consolidation loan...$7000 in debt!?
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Answer:
To boost your credit score:
The first thing you will need to do is call the three major credit reporting agencies and request a free copy of your credit report.
www.equifax.com
www.experian.com
www.transunion.com
Then once you get those in the mail (7-10 days) there will be a dispute form attached to the reports. Fill those out for every negative account on your report regardless. Fax, mail go online whatever it takes to get those submitted as quickly as possible. Then those companies must answer your dispute within 30 days or it is removed from your credit report completely. So that will eliminate some things, hopefully.
Good Luck!
You may want to consider bankruptcy since the amount you owe is a significant amount. We The People does the paper work for a small fee, and gives you a fresh start.
Best wishes.
debt consolidation works when you can eliminate your debt you owe.and i think you can get a loan at a bank but there is so much percentage of interest you would have to pay.
How did you manage to sell the car when the lender holds a lien on it? Car loans usually have very reasonable interest rates: don't refinance unless you are getting a better one.
If the rest of your debt is high interest debt--like credit card debt, you should consolidate it into one low interest loan if you can. You should be able to if you have a good payment history.
When you refinance your credit card debt, stop using your credit cards or, better yet, get rid of them entirely. If you acquire new debt while you are trying to pay off the old, you will be in even worse shape.
Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.
why do you need a debt consolidation loan?
Just pay off the debt. It's that easy. That's like transferring debt from one credit card to another. Borrowing money to pay off more borrowed money. You can pay it off with the power of intensity and focus. Put all extra funds each month toward the debt and it'll be gone in no time.
I don't see having another loan hurting you. That's what debt consolidation is all about.
Debt consolidation is an option, and you should look into it. Just be careful about WHAT you're getting into. Some plans, because of their higher APR rates get you into more trouble than you were.
Also, some lenders look poorly upon it later on. Some institutions believe that it really is a black mark. It will depend upon the types of deals that your particular company or lender work out, and of course, your own individual circumstance. For some with absolutely NO way out, debt consolidation is a welcome option.
Take a good hard look at all the options and plans offered, and don't let a single company pressure you into something you just can't do. Make sure that you're comfortable with the plan offered before you commit to it.
In any case, it doesn't hurt to investigate debt consolidation as an option. It doesn't cost you anything to find out more information about it.
If you want a place to start your investigating, there's information and listings for debt consolidation providers on the page listed below. You'll probably find something of use there:
http://axalda.info/debt-consolidation.ht...
May be I Can Help You:
Just try:
http://www.proloanz.com/debt_consolidati...
http://www.mortgagerefinancingatlowrate.
http://www.topamericanmortgage.com/debt-...
http://www.apply4less.com/debt_consolida...
They Will Definetly Help You
You could get approved for consolidation.. but consolidation isn't always the best way to go.. sometimes you can pay it much, much quicker yourself. Also bankruptcy is something you really need to study b4 making any rash decisions.. you can study at my source
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