Trying to consolidate debt. seems there is no real help unless you default im trying to get help before I get to that point. just want a fair deal…looking for 9 to 11 % interest rate for roughly 25,000 total debt( not including 20,000 left on two car payments)
I make a good salary now but it is hard to see the benefits of it when most extra money is just going to minimum payments on ridiculously high interest credit cards.I have a solid GOOD credit rating and payment history
A true debt consolidation loan is impossible to come by without you putting up your home equity or something else as collateral.
A true debt consolidation loan often winds up digging a deeper hole latter on. What happens typically is after six months the card balances start to creep up again and before you know it you have a loan and high balances again.
I know, you’re saying that won’t happen to you. And that’s exactly what everyone else said also.
Keep hunting for a loan if you want. The scammers will have a new name for you, the mark. Someone will sell you a load of crap and tell you they can qualify you for a loan if you only pay an up-front fee. It’s a scam.
If you are just looking for lower interest rates and you are willing to have all your credit cards closed, investigate a debt management program. With $25,000 of debt your payment will be around $500 a month.