I need a loan that will pay off all my lingering little bills. I'm on SSI for a illness and I rent I don't have a house. I pay very low rent. I can pay back the loan by debt by bank account, I need about 2800.00. I could pay 200 to 275 a month. like I said I don't have a house . I have nice furnture, and a car. 2005 it's a need for medical reason. my income is guarntee. I really need help. real help. This matter is putting stress on my condition. I have no children or dependent to care for just myself. I get paid once a month, over a 1,000.00. thank you in advance, God Bless you for the answer.
2007-03-03 09:47:53 · 9 answers · asked by Malvina B 1 in Business & Finance ➔ Personal Finance
Consolidating your debts doesn't really solve anything. You still owe the money. I would recommend setting a budget up for yourself and sticking to it. Making the budget gives you control of your money.
Once you have that list all of your debts from smallest amount to the largest amount owed. Pay the minimum payments on all but the first. Then focus your energies on paying off the smallest one. Any extra bit of money you get should go towards it until it's paid off. Once it's paid off do the same thing with the next one. Paying off the smaller debts first frees up money to work on the larger ones.
If you want some more information on ways to get out of debt check out Dave Ramsey at www.daveramsey.com.
2007-03-03 10:02:19 · answer #1 · answered by Jen G 5 · 1⤊ 1⤋
FYI - You're probably not on Supplemental Security Income (SSI) if you're receiving $1,000/mo. You're most likely on Social Security Disability Insurance (SSDI).
It's very difficult to get a loan in your situation unless you borrow privately from a friend or family member. If this is not an option, I recommend using the services of a credit counseling agency. The amount you owe is relatively low. They can help consolidate debt and/or reduce interest that has accrued, and help you negotiate a reasonable payment schedule with your creditors. Many friends and clients have been helped out of debt doing this.
Check these out:
http://www.consumercredit.com/
http://www.nfcc.org/
Good luck!
Alana
Benefits Advocate
2007-03-04 14:42:27 · answer #2 · answered by althegrrl 3 · 0⤊ 0⤋
If your car is paid for you could use it as collateral, but see if you can do it without using the car, only because they might require the most costly collision insurance on the car.. You actually aren't in a bad position if you have a guaranteed set income, and you can show that your payments are achievable. A $2800 loan shouldn't require $200+ a month; if it's a 36 month loan it should be closer to $80 or $85 a month. Talk to the bank - I don't think you're as bad off as you think.
2007-03-03 09:58:22 · answer #3 · answered by T J 6 · 0⤊ 0⤋
There's an old saying that you cannot borrow your way out of debt. If you bills are medical, the last thing you would ever want to do is convert them to some other type of debt by getting a loan.
Medical bills are the easiest to work with. Take your time and send them what you can every single month.
2007-03-03 09:57:54 · answer #4 · answered by Anonymous · 1⤊ 0⤋
What you can do Melvina is consolidate all your money ,
As you stated your on SSI ,as long as you pay your bills and your credit isn`t to high as in ration campared to your anual gross it shouldn`t be a problem .My advice is to try a credit union rather then a bank .Banks tend to go by the book and Credit Unions they can cut corners .
Good Luck and all the best .Corrine
2007-03-03 10:03:03 · answer #5 · answered by eastcoastgurl_75 2 · 2⤊ 0⤋
in my opinion, i imagine you'd be more suitable positive off renting a low income position and in no way nerve-racking about procuring until eventually you've more suitable income. you does no longer also manage to manage to pay for the prices that flow alongside with the living house-procuring procedure which have no longer something to do with the down fee. best of luck to you and your family members.
2016-12-05 05:01:21 · answer #6 · answered by lesniewski 4 · 0⤊ 0⤋
I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.
2007-03-03 13:49:54 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Yea go for it all they can say is no right go to a credit union and all the best
2007-03-03 14:10:59 · answer #8 · answered by pattibcacl 6 · 0⤊ 0⤋
That would be like buying a Hummer to save on gasoline.
2007-03-03 12:08:07 · answer #9 · answered by Anonymous · 0⤊ 2⤋