Archive for the ‘debt consolidation’ Category
Not credit counseling, but debt consolidation loan. Can’t find any good info on the web, so your educated opinion would be helpful. What are credit requirements, home equity requirement, debt service ratio and other factors?
If you know a good resource that would be very helpful as well!!
Thanks.
I get this question all the time as a senior loan officer for a large mortgage brokerage firm. Credit requirements are a little tighter now, but there are still lender who will offer to consolidate your debt if you have the following:
1. Credit score of 680 or higher.
2. Debt to income ratio of 45% or lower (if CR score is higher, then ratio can be higher)
3. Home loan to value can be as high as 95%
for more information go to my website: www.windsorcap.com/rlicon
Mortgage refinancing and debt consolidation are great ways to reduce your monthly payments, save money on interest, and free up money to spend on the things you need and want. Regina mortgage broker Miles Zimbaluk (http://www.saskhomebuyer.com) provides this presentation. If you’re a Canadian home owner, you can apply online with Miles for mortgage refinancing at http://www.saskhomebuyer.com/apply.html.
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I’ve been in sky-high debts for the past 5 years. A friend referred me to try checking debt consolidation loans. Will they guarantee me of a debt-free and better life if I’ll get one for myself?
The only guarantee that you have of being debt free depends on you and your behavior. Although a debt consolidation loan can help you by giving you a lower interest rate and better terms, you honestly have to change your behavior if you are serious about getting and staying out of debt. The best way to do this is to get on a written budget or spending plan, save or make extra money and apply all of it towards debt reduction – by doing this, you can succeed.
I have 10grand in credit card debt, plus about 25grand in car loan debt. I have heard that debt consolidation is actually worse for your credit than bankruptcy, is this true?
debt consolidation can mean two completely separate things: the first is getting a traditional bank loan to consolidate all your debts into one lower monthly payment. You need good credit to qualify. This does not damage your credit.
Debt consolidation also refers to a practice of trying to settle your debts for less (credit card debt only…not car loans). These firms have you deliberately default on your payments and trash your credit rating to settle for less. When you use such a firm, the monthly payment you make is going towards their settlement fees and to build a settlement account. Their fees are taken out first. Your credit cards will not be paid and will go into complete default during this process, which ruins your credit rating. This is deliberate so that they can attempt settlements for 50%. These firms have warm-fuzzy “feel good” ads which give the impression that they are doing your credit card companies a favor and that they’ll gladly work with them.
Many credit card card companies refuse to work with debt settlement firms. Your creditors are not obligated to take any settlement from anyone. You can never predict how your creditors will respond..they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment. If the process fails you can end up in a much worse financial situation where you’d have to file for Chapter 7 bankruptcy.
What company would you suggest for a debt consolidation? People easy to deal with and with good and competitive rates. Thanks!
The answer is NO COMPANY. All any debt consolidation firm does is collect money from you, pay some of it to your creditors and keep the rest. If you do it yourself, 100 percent of the money goes to the creditors. As far as negotiating reductions and lump sum payments or payment plans, you are better doing that yourself as well. That you do not pay $1000s in fees to some debt consolidation firm before they settle one debt. Try creditinfocenter.com or credit-card-debt-survival.com for more info.
http://www.howtoconsolidatebusinessdebt.com/ Find out how a small business debt consolidation loan can help you save your business, free up cash flow, avoid layoffs and avoid bankruptcy.
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I am looking for the best debt consolidation company to help get me out of the mess I am in. Suggestions?
If you want
* over 50% of your debt negotiated away
* become debt free as soon as possible
* Avoid bankruptcy
* reduce your total debt balanced
* one affordable monthly combined payment
* home ownership not required
* free quote with no obligation
Check this site,
http://Debt-Consolidation-USA.com
Here you can get free quote from all debt specialists that available in your area. It’s free and fast
Can anyone tell me about debt consolidation companies and their services?
If you want
* over 50% of your debt negotiated away
* become debt free as soon as possible
* Avoid bankruptcy
* reduce your total debt balanced
* one affordable monthly combined payment
* home ownership not required
* free quote with no obligation
Check this site,
http://Debt-Consolidation-USA.com
Here you can get free quote from all debt specialists that available in your area. It’s free and fast
Learn about student loan debt consolidation, student loan debt forgiveness, debt consolidation loans, and student loan consolidation.
http://www.christianet.com/studentloans/
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Can anyone tell me about debt consolidation companies and their services?
If you want
* over 50% of your debt negotiated away
* become debt free as soon as possible
* Avoid bankruptcy
* reduce your total debt balanced
* one affordable monthly combined payment
* home ownership not required
* free quote with no obligation
Check this site,
http://Debt-Consolidation-USA.com
Here you can get free quote from all debt specialists that available in your area. It’s free and fast