PostHeaderIcon What is the best company for credit card debt consolidation loans?


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I am planning to consolidate about $4000 in credit card debt by personal loan. What are the best lenders to approach?

6 Responses to “What is the best company for credit card debt consolidation loans?”

  • R says:

    Good day,

    I am Richard a private loan lender, i give certified loans to serious minded individuals and company at an interest rate of 5% with total loan repayment allowed weekly monthly or yearly depending on how you can make repayments if interested email me at rj.microfinance@mail.mn .We only offer out in: Dollars,Pounds,Euro and Naira only.Apply with the following details:Name,Address,Cell number,Occupation,Monthly income,Loan amount needed&Duration.

    Email: rj.microfinance@mail.mn

  • Vinnet says:

    hi
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  • Retires says:

    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.

    http://www.worldbestloans.com/Loan-Consolidation.htm

    Unlike bankruptcy, in which debts are cancelled and your credit rating collapses completely, debt consolidation loans are essentially a type of refinancing, where several old loans are replaced with a new one that has more favorable terms.

  • victor c says:

    It isn’t wise to seek credit card debt consolidation loans to consolidate credit card debt. You’d be trading off unsecured debt for secured debt. The lenders you will find are secured debt consolidation loan lenders that would require you to put up the equity on your property as collateral to guarantee loan repayment. Then guess what happens if you don’t pay up…

    You guessed it, they can foreclose on your property.

    So, it is best to do a balance transfer into a lower interest credit card account. In case that doesn’t work, another option is credit card debt settlement. This process can allow you to reduce your entire debt fro about 50 cents on the dollar. Obviously, you need to qualify.

    Typically, people with legitimate financial hardships qualify for the debt settlement credit card debt consolidation alternative. To see if you qualify, you can call Debt Free League at 800 213 9968 or visit http://www.DebtFreeLeague.com.

  • Peter says:

    Hello Case # 2485!

    It depends not only on the amount, but on your ability to pay, so a profile should have to be analyzed.
    I would try to get that study done for me.
    You can do it online for free.
    Just googling it you get examples.
    Below there’s one for instance.

    Good luck

  • Jeanne R says:

    What keeps most people in debt is the fact that they keep spending more money than they make. They look at the “monthly payments” instead of the total debt loan that they are carrying. People need to stop spending now and concentrate on becoming debt free. Please do not consolidate or use a debt reduction company . It is not free, they will lower your payments by increasing the length of time until you are debt free, and you will take a hit on your credit score. Or they negotiate your debt down after telling you not to pay for awhile adding another hit to your credit score. Student loans are the only debt that can garnish your wages for non payment without taking you to court first. Just list them out on a piece of paper or a spreadsheet and follow the plan. If you work the plan, the plan will work for you.

    A. Have a garage sale and sell anything that you no longer need or want.

    B.Get a temporary part time job, if you have one, get another.

    Here is a plan that can help you. If you work the plan, the plan will work for you:
    1. Make a budget. Make the budget a week before you get paid. A budget is not a punishment! It is a tool which will free you from ever having to worry about money again. Put everything in your budget. Especially those annual, biannual, or quarterly bills like car registration, insurance, etc. Give every dollar you are going to bring home the name of where it is going. Add an “emergency fund” category to your budget for 25 dollars and save up until you have 1000-1250 dollars. Your emergency fund will help keep you from getting into new debt because of an emergency. If you can, set up a direct transfer to a savings account for your emergency fund. That way it moves automatically and you don’t even have to worry about it. You must cut your spending and live on less than you make.

    2.First get current on all of you debts and make no more late payments. Stop using your credit cards immediately. Do not take on any more debt. Credit cards are like quicksand only the death is much slower. Make a list of all of your debts in order of highest interest rate to lowest interest. Use cash only for your spending from now on.

    3.Pay the minimum due on all of your debts and then put your extra money towards paying off the highest interest one first. After you get that one paid off, you put the money you were paying on debt #1 (the minimum payment and the extra payment) towards debt #2. That will pay debt #2 off faster. When that is paid off, you put all three payments towards card #3 and that one will be paid off pretty quickly. As an example:

    To start :
    Debt #1 (highest interest): minimum payment+ extra payment
    Debt #2 (middle interest): minimum payment
    Debt #3(lowest interest): minimum payment

    Debt #1: paid off
    Debt #2: minimum payment from Debt #1+ Minimum payment from Debt #2 +extra payment
    Debt #3: minimum payment

    Debt #1: paid off
    Debt #2: paid off
    Debt #3:Minimum payment from card #1+ minimum payment from Debt #2+ minimum payment from Debt #3+ extra payment.

    That way, you will get them all paid off, on time, and pay the least interest. It will also help towards rebuilding your credit since you will no longer have any late payments. This works no matter how many different debts you may have.

    4. After you get all of your debts paid off, add to your emergency fund until you have 6-12 months of income saved up. Put that emergency fund money into a liquid money market fund or into a Bank of America no-risk CD so that if you need the money you can take it out without penalty.

    5a. When you have your emergency fund in place, add a category for “fun” to your budget. Save for a holiday, a vacation, a big screen, or dinners out, whatever goal you want. Remember to enjoy your life.

    5b. When you have your emergency fund in place, start saving for your retirement. Join the 401(k) plan at work and contribute the maximum. Your employer probably matches at least part of your contribution so why give up free money? Open a Roth IRA and contribute the maximum on a monthly basis. If you start saving for your retirement now, you will probably retire a millionaire.

    5c. When you have your emergency fund in place, start saving for your next car. Only buy cars, or other things that depreciate, with cash. Save up for a nicer car. That way you get the interest instead of paying the interest.

    You can do it and it isn’t as hard as you think. Just follow the plan

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