$27k in revolving debt and another $20k already set up in low rate repayment schedule loans of debt.
I just want to know if any banks offer consolidation loans for a 7 year term where they take our cards, issue payoff checks and cut our cards, anymore?
I so want to pay off our debt the right way with out settlements and bankrupcies, but banks make it hard telling you to ruin your credit (make yourself delinquent) before they will help you now…if we are current, they won’t do anything to help.
I would love to get my 10 cards into one confortable payment and rate, but it seems there is only a 5 year time frame out there…
Thank you for your time and help…truly appreciated!
None that I’m aware of.
Your choice is either a debt consolidation lender like LendingClub.com or using a structured repayment strategy like the free service from ReadyForZero.com if you are looking for a way to pay your debt off and protect your credit.
But I’m concerned that you are setting limits on your strategies to get out of your debt. Many people get so focused on the “getting out of debt part” that they screw up their future financial lives by not making the tough choices or encompassing all the factors with clarity.
Please read The Saddest Avoidable Mistake People Make When Getting Out of Debt and absolutely avoid doing those things.
If you can’t manage to continue to build your emergency savings and save for retirement while you are getting out of debt, your making some bad choices.
If you do decide to look for a debt consolidation loan be sure to read The Ultimate Debt Consolidation Loan Guide: Getting Approved, Acting Smart, and Being Wise.
Please post your responses and follow-up messages to me on this in the comments section below.