Posts Tagged ‘Money’

Debt consolidation. Whats best for me?

Saturday, April 10th, 2010

I have about $4400 of debt in collections. 9 of my 11 collections accounts are medical. The other 2 ($716) accounts are sprint and brighthouse. My wife and I are trying to build my credit up so that we will be able to buy a house in the near future. As of right now I dont have any good credit. The only things I have in my credit file are collections. I do not currently have anything that needs to be paid regularly(car, credit card, mortgage, etc.). I dont have the Money to pay off all of these people, but i want to.

I have heard that a debt consolidation loan would pay off all of these collection accounts and I would only have to pay the loan back, and at the same time, instantly clear up all the negative account information on my credit file.

Id like to know what to look out for when looking for this type of loan. I would also like to hear any success stories that you have with this type of loan.

Thanks for your time!

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Posted in Debt Consolidation | 4 Comments »

Does anyone know of a really good/legit debt consolidation company that’s a non profit?

Tuesday, March 16th, 2010

Not trying to get a loan with no interest. Trying to lower interest on money owed since it seems like 75% of what I’m paying back is interest, just feels like I’m getting nowhere.

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Posted in Debt Consolidation | 3 Comments »

Should my fiancee and I pay off our credit card debt before we purchase a new home?

Saturday, February 20th, 2010

My fiancee and I have approximately $30,000 in credit card debt (mostly his). He thinks that we should pay off all that debt and put a smaller down payment down on a home, rather than using all our money for the down payment. I argued that we should not worry TOO much about the credit card debt and take care of it another way, such as re-financing our mortgage in several years and using that cash to pay off the credit card debt (since the interest rate would be much lower). Any suggestions?

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Posted in Credit Card Debt | 7 Comments »

debt consolidation?

Friday, July 3rd, 2009

Hello all, I have a question regarding debt consolidation. I have about 15k worth of debt and have tried applying to two companies for a debt consolidation loan and was denied both times. I thought about trying what one of the other posters suggested , writing to the individual companies threating a voluntary bankruptcy order. I have about 10k in the bank, but I don’t want to borrow from that lender because I wouldn’t be able to use the money in my account. My credit is only good. What other options do I have? Thanks

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Posted in Debt Consolidation | 5 Comments »