What is a good way for debt consolidation?

Aug.19, 2009 in Debt Consolidation

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I am trying to get out of debt I have 5 card adding up to about $2500.00, and also a loan of $10,500.00. I am having a baby at the end of the year and would like to either get rid of this debt or consildate it to one payment that would be easier to pay off. thanks for the help

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5 Comments on “What is a good way for debt consolidation?”

Nicole
August 22nd, 2009 at 10:40 am
Visit your local credit union, they’ll certainly help you as best they can. Depending on your credit, this should be no problem at all. And if it is more convenient for you, they can probably even split your monthly payment so that you make two payments a month instead of one.
Thin Kaboudit
August 25th, 2009 at 5:03 am
Don’t bother. Consolidation just makes someone else money! Just pay minimums on all but the smallest balance, then send everything you can to that smallest balance card, sell stuff, deliver pizza, etc. until it is GONE! Then move on to the next… etc.

Read any book you can find by Dave Ramsey.

Stupid people pay interest, smart people earn interest!
mark w
August 28th, 2009 at 4:49 am
May be I Can Help You:

Just try:

They Will Definetly Help You
Succes
August 28th, 2009 at 2:40 pm
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.
Gary H
August 29th, 2009 at 9:42 pm
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: