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Your interest payments need to be brought down Big Time Can someone please help you with advice on credit card consolidation?
Wiki User
∙ 15y ago
Credit card consolidation is not easy as credit limits are just awful these days. Your new mantra would be to work on paying more and spending less. You could try some of these options - switch that debt over to somewhere else, consider taking out a low interest unsecured loan to pay off your debt or split the debt up between 2 or 3 new credit cards that carry 0% balance transfer offers. You could also look for advice from online credit card services.
Wiki User
∙ 15y ago
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Can you recommend a low interest debt consolidation loan?
There are several places that would give someone a low interest debt consolidation loan. Some options are TDbank and WellsFargo, but you should always ask your financial adviser first.
How is debt consolidation a good idea?
Trying to consolidate debt with bad credit is not a great idea. If your credit rating is low, it's hard to get a low-interest loan to consolidate debts, and while it might ...affordabledebtconsolidation
What is a consolidation credit card?
A consolidation credit card is a credit card someone will pick to use as their sole credit card for everyday expenses which typically has the lowest interest rate or the best benefits such as cash back or miles rewards programs. Also, if someone has other credit cards with higher interest rates, they can often transfer balances and "consolidate" them onto a single credit card with a lower interest rate, therefore lowering their monthly payment, costs and in essence, making the card a "consolidation credit card".
What are some benefits of consumer debt consolidation?
Some benefits of consumer debt consolidation are lowering someone's interest rates on certain debts and giving them one manageable payment per month with the ultimate goal of paying down their debts quicker and more efficiently.
What is debt consolidation?
Debt consolidation - is reaching an agreement with each creditor to accept a lower regular payment, usually at a much reduced rate of interest. It takes longer to pay off the debt, but you pay less interest than you would at their normal rate. Companies would much rather come to a satisfactory agreement - than have to drag someone through the courts (which costs them money.
Can you recommend a low interest debt consolidation loan?
There are several places that would give someone a low interest debt consolidation loan. Some options are TDbank and WellsFargo, but you should always ask your financial adviser first.
How is debt consolidation a good idea?
Trying to consolidate debt with bad credit is not a great idea. If your credit rating is low, it's hard to get a low-interest loan to consolidate debts, and while it might ...affordabledebtconsolidation
What is a consolidation credit card?
A consolidation credit card is a credit card someone will pick to use as their sole credit card for everyday expenses which typically has the lowest interest rate or the best benefits such as cash back or miles rewards programs. Also, if someone has other credit cards with higher interest rates, they can often transfer balances and "consolidate" them onto a single credit card with a lower interest rate, therefore lowering their monthly payment, costs and in essence, making the card a "consolidation credit card".
Can someone explain what credit consolidation services are?
A credit consolidation service takes the different accounts such as credit cards where you have outstanding balances, pays them off, and provides you with a lower interest rate on a single loan. It is helpful if you have gotten over your head in debt.
How can someone benefit from a Loan Consolidation Calculator?
A loan consolidation calculator is meant to determine how much one would save by consolidating all their debt to one source. It means instead of five loans accruing heavy interest, you would only have to pay one larger loan with smaller interest, which may be overall less expensive.
What are some benefits of consumer debt consolidation?
Some benefits of consumer debt consolidation are lowering someone's interest rates on certain debts and giving them one manageable payment per month with the ultimate goal of paying down their debts quicker and more efficiently.
How does a bill consolidation service work?
A bill consolidation service works by allowing someone in debt to take all of their debts and consolidate them in to one loan. By doing this there is then only one interest fee and loan amount to be paid rather than numerous amounts to numerous creditors.
What is debt consolidation?
Debt consolidation - is reaching an agreement with each creditor to accept a lower regular payment, usually at a much reduced rate of interest. It takes longer to pay off the debt, but you pay less interest than you would at their normal rate. Companies would much rather come to a satisfactory agreement - than have to drag someone through the courts (which costs them money.
Should I share my remortgage interest rates or get someone elses?
You should share your remortgage interest rates. Sharing your remortgages decreases the pressure on your payments. You pay less and save more money that way.
Can you sell your car with payments left on the loan?
Someone cannot sell his car if there are still some pending payments on a loan. It is however possible to enter an agreement with the financier so that the remaining payments can be financed by part of the proceeds from the car sale. An extra interest payment may be charged for that.
Can someone lease a car and someone else make the payments?
Yes, all the bank cares about is that someone is making the payments.
How does one apply for a non profit consolidation?
A non profit consolidation can be applied for by going to a company that is funded by donations or grants that offers this. They will consider if someone is eligible and offer the non profit consolidation loan to them if they are eligible.
