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Debt consolidation loan?

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Answered 2012-02-13 18:22:59

Depending on what your asking.

Your local bank or credit card company may be able to help you consolidate high interest debt with a debt consolidation loan. If you are looking to free up some cash flow by using a debt counseling service then you may be able to consolidate some of your high interest unsecured debt (credit cards) by working through a counseling company and the credit card companies.

Keep in mind, having steady income is important to factor in when entering a debt counseling/consolidation program.

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Related Questions

How do debt consolidation services work?

With a debt consolidation loan, a company fronts you the money to pay off your debt (or a portion of your debt), so then your monthly debt payments get streamlined into the one loan payment. Your debt consolidation loan ideally has a lower interest rate so you can save on interest as you pay it off.

What are the qualifications for a debt consolidation loan?

For a debit consolidation loan, the person being granted the loan must not have a history of bad credit or loan repayment and must be in effort to reduce their debt.

What is the best student loan consolidation program out there?

Some of the best programs for student consolidation loan companies out there are: Loan Approval Direct, Next Student, Debt Consolidation, Perkins Loan,Chase Loan Consolidation, Wells Fargo Consolidation, Federal Loan Consolidation, to name a few.

Where can one find information about a consolidation debt loan for a small business?

A consolidation debt loan is the process of borrowing money to pay off other loans. One could find information about a consolidation debt loan for a small business on the website Technorati.

What are the best companies for personal loan debt consolidation?

Debt consolidation is a single loan that allow you to repay your debts to all creditors at once. Most banks offer personal loan debt consolidation. For example TD Bank, RBC or Citi Financial.

Where can one get payday loan debt consolidation?

There are a number of websites that offer advice and help to people looking to consolidate their payday loan debts. Some examples of these websites include Pay Plan, Debt Consolidation Care and Payday Loan Debt Consolidation.

What are the best debt consolidation programs?

With a debt consolidation loan, a company fronts you the money to pay off your debt (or a portion of your debt), so then your monthly debt payments get streamlined into the one loan payment. Your debt consolidation loan ideally has a lower interest rate so you can save on interest as you pay it off.

Debt Consolidation?

Debt Consolidation Should you consolidate your debt? This calculator is designed to help determine if debt consolidation is right for you. Fill in your loan amounts, credit card balances and other outstanding debt. You can then see what your monthly payment would be with a consolidated loan. Try adjusting your terms, loan types or rate until you find a consolidation plan that fits your needs - and most importantly your budget!

Where can you get assistance with home loan debt consolidation?

One can find assistance with home loan debt consolidation at one of the following financial institutions. Bank of America, Quicken Loans, Wells Fargo, and B B & T Debt Consolidation.

How easy is it to get a debt consolidation loan?

I have learned there is really no such thing as a consolidation loan anymore. The banks and other loan agencies do not carry this particular loan anymore.

Is student loan debt consolidation something that will save money in the long run?

Student loan debt consolidation is a way to consolidate student loan debt to the point that money is put in a synthetic grace period to prevent interest.

Where can one find a personal loan for debt consolidation?

When looking for a personal loan for debt consolidation then their are many websites online that offer advice and many that offer debt consolidation loans. Some of these are Ocean Finance, Lending Tree and several other websites.

What are some debt consolidation tips?

Some debt consolidation tips include taking out a loan. This way you will only have to one payment.

Does debt consolidation effect credit and credit score?

This is totally dependant on the type of debt consolidation.Most commonly, debt consolidation happens through a secured debt consolidation loan. You are effectively replacing your debts with this new loan. You will pay off your other forms of debt and only have the one loan payment to pay. This will not harm your credit file, as long as you don't miss payments to your new loan, as it will show that you have paid off all the other debt.However, debt consolidation can also happen through a debt management plan. This is where a debt management company will negotiate with your creditors to offer you a lower monthly payment. This type of debt consolidation will effect your credit rating as you will be breaking the original terms and conditions with which the debt was lent.Answer Debt consolidation has minimal effect on your credit. In most cases, you apply for a home refinance or debt consolidation loan and use the proceeds to pay your other debts. Although you will now have a single larger debt on your credit report, several small debts will be eliminated.

Use a Debt Consolidation Calculator?

If you find that it is hard for you to pay off all of your creditors each month, you might need to take out a debt consolidation loan. A debt consolidation loan is a loan that you use to pay off all your other debts, relocating all of your debt into a single loan. This can reduce your interest rates and your monthly payments. At the same time, it can end up costing more in the long run. To compare the benefits and disadvantages of using debt consolidation, it is useful to take advantage of a debt consolidation calculator, which can show you how the new terms affect the cost of the debt.

Where can one get loan consolidation advice?

One can get loan consolidation advice from the following sources: National Debt Relief, Debt Free Direct, Debt Advice Foundation, No More Debts, Money Advice Service.

Must you have a regular income to qualify for a debt consolidation loan?

Yes, you do have to have employment to be considered for a debt consolidation loan. You would have to prove to the financial institution with whom you are applying that you will be able to make the payments on this type of loan.

What are the advantages of a debt consolidation home loan?

A debt consolidation loan combines all existing debt into new home loan. These loans typically have relatively low interest rates especially when compared to credit cards, making it easier and cheaper to pay off the loan.

How does debt consolidation work?

Debt consolidation works by combining multiple debts into one monthly payment, usually with a lower interest rate. Debts like credit cards and medical bills often have high interest rates, so you can save on interest (and pay off your debt faster) by reorganizing them into a single, lower-interest loan.

Where can one get an unsecured loan for debt consolidation?

There are many places that one could get an unsecured loan for debt consolidation. These places include, but are not limited to, Lending Tree, Prosper, and Bank of America.

Where can you apply for a debt consolidation loan in Trenton, New Jersey?

The best place to apply for a debt consolidation loan in Trenton is at the financial institution known as Brillac. This is a trusted source for loans.

Use Personal Loans to Consolidate Debt Today ?

Debt can happen to anyone. With the high cost of living, it can be easy to have to rely on credit cards to get by. Soon enough, the need for a personal loan for debt consolidation is needed to help. There are a couple of loans that can be considered, such as a debt consolidation company loan. These companies gather all of your debt into one so that you can make one big payment. However, other loans, such as a personal cash advance or a title loan, can help out with debt consolidation. A payday loan can give you up to $1500 to put on your debt, and a title loan can give you much more than that. Consider a personal loan to help with debt consolidation today.

What organizations help US students with school loan debt consolidation?

The main organizations that help US students with school loan debt consolidation are the Debt non-profit organization and the Student Aid section of the government.

What is the interest rates for debt consolidation loans?

Interest rates for debt consolidation loans can vary dramatically based on your credit. If you can get a home equity loan they usually have much lower interest rates. For a debt consolidation loan expect to pay around 10-12% interest.

Which banks will purchase loan debt for consolidation?

Many banks will purchase a loan debt for consolidation so long as it complies with their terms. They usually impose a standard rate of interest and payment terms.