2007-09-16 10:52:01 · 8 answers · asked by Ronald R 1 in Business & Finance ➔ Personal Finance
Your debt is just a symptom of your real problem. Your real problem is that you don't know how to manage money. Don't consolidate. Get focused and PAY OFF YOUR DEBT!
Do a small group study by one of the links below. Crown is the one that straightened me out. Dave Ramsey is good to listen to online.
2007-09-19 10:31:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.
http://debt-trap.com/category/Debt-Consolidation-Basics.html
2007-09-17 09:17:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Shifting your debt to a new loan is just piling on more debt. Instead work on pay those debts off.
Make a strict budget. Get rid of all the extras -- cell phone, eating out, new clothes, etc. Put every penny you can squeeze out of that budget on the highest interest rate debt, while making minimum payments on the rest. When the highest debt is paid off, move to the next till they are all paid off.
It will take you 2 or 3 years but you will have a good payment history.
2007-09-16 18:10:30 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
Don't mess with all that. ATTACK your bills and debt however you can. Part time job, live poor, quit smoking, whatever it takes. The answer is NOT in a new loan or consolidation, it's in paying off what you owe.
2007-09-16 18:41:37 · answer #4 · answered by The Scorpion 6 · 1⤊ 0⤋
Consolidation is just that, a CON. It don't work. Paying off the debt is the answer.
2007-09-16 18:04:37 · answer #5 · answered by Anonymous · 1⤊ 0⤋
try prosper.com
>Beware of Advance fee Loan scams.
LOAN SCAM - Do Not Pay UpFront Fees.
Do not send money UpFront via Western Union or MoneyGram to any person or business in the UK, Nigeria or Canada in hopes of getting a loan. If you do you will learn a hard lesson & never see any Loan money.
g luck!
2007-09-16 18:03:44 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Click on this link and compare which gives you the lowest rates and what will be your EMI.
http://www.uswitch.com/Loans/Index.aspx?ref=ppcgoogle~gen~u-switch
2007-09-22 15:19:23 · answer #7 · answered by Raj 4 · 0⤊ 0⤋
yes you can
but for that you have to check with the bank
http://www.citybuzzer.com
2007-09-24 16:15:29 · answer #8 · answered by Anonymous · 0⤊ 0⤋