PostHeaderIcon Where can i find a good debt consolidation loan?


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With not so great credit and do not own home for equity.

9 Responses to “Where can i find a good debt consolidation loan?”

  • Trick orTreat says:

    Go to consumer credit counseling and ask

  • steve s says:

    DO NOT GO TO DEBT CONSOLIDATORS!!!

    These people will take your money and just rip you off. The best way to consolidate debt is to pay your bills on a bi-weekly basis. First get a calendar that you will use for your debt. Next take all your bills and make columns on a piece of paper. In the 1st column write the name of your bills, 2nd column write the total amount owed, 3rd column write the minimum payment, 4th column divide the payment into half. The 4th column is the payment you will pay every 2 weeks. 5th column write the date you received the bill.

    On the calendar take the date you received the bill and write in the amount from the 4th column. Then from that date the next payment you will write on the calendar is in 2 weeks. So every time you receive the bill you make the first payment then in 2 weeks from that date you make the 2nd payment. Your bills will be paid off faster. Once one bill is paid off take the money from the previous bill and apply it to another bill. And keep on going until you are debt free.

  • Luckys Charm says:

    try to clean up credit

  • CJoshuaV says:

    You may want to try a credit union. Another option might be negotiating lower rates with your creditors if you agree not to charge any more on the accounts.

  • Abbi G says:

    I agree, DO NOT go to a credit counseling agency! These agencies are not supposed to be used for consolidation. They are used when you are no longer able to make your payments anymore because you now have too much and cannot afford it anymore b/c your payment are too high. Also used when you have NO OTHER otion such as a mortgage refinance. These agencies contact your creditors, negotiate a lower payment, and attempt to lower the interest rate. At this point mose creditos will agree on a negotiation for fear of being filed bankruptcy on. What the agencies don’t tell you is that the creditors will start reporting your accounts as “account in credit counseling program”. As long as you have accounts in this program it will be virtually impossible to get another loan – from anyone! These programs are viewed as attempts to get out of debt and no lender will want to loan you money knowing that your having trouble making payments to begin with.

    My suggestion is getting an actual loan. Whether it be a mortgage (not in your case), secured loan….anything you actually have to apply for credit for. This is normal and is looked more kindly on as loans in good standing. Do you have any assets you own free and clear? How much debt do you have? Are you paying off mostly revolving debt or credit cards?

    I will tell you this…
    In today’s world are not taught how important our credit reputation really is. Young adults do not understand how dangerous credit cards and other revolving debt can be either. I wish that these institutions had more restrictions because they are the ones who end up taking the loss in the end. Yet they benefit significantly from their customers who do pay their extremely high compounding interest rates!
    Unfortunately, if you are not a homeowner, do not have any assets to secure a loan with, and have a low credit score….it’s going to be very hard to get this done.

  • robinsmithwhite says:

    There is no such thing as a good debt loan. The consolidation loan usually means that the debt is spread over a longer period. Also, the loan company expect their cut as well. A better idea is to contact the companies you are in debt to, explain your position honestly, and they will normally agree a reduced payment plan.

  • 346j76 says:

    this is what I did and it helped me thus far
    http://debt-consolidation.50webs.org

  • Gillian G says:

    You can find reliable ways to consolidate your debts if you have bad credit. There’s a website here with an explanation of how to get advice from reputable counselers. I hope this helps.

    Good luck!

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