2007-09-23 13:58:04 · 4 answers · asked by willie g 1 in Business & Finance ➔ Personal Finance
Credit consolidation may be an option and can save you interest (eg. paying 12% on a personal load instead of 18% on a credit card), but then you have the bad credit issue, which may make it difficult consolidating your debts and on top of that a lender may charge you a higher interest rate as they may view you as a higher default risk, which would (may) negate the benefit of consolidation. You really should seek the advice of a good Accountant or Financial Planner.
2007-09-23 14:24:12 · answer #1 · answered by Gregory C 2 · 0⤊ 1⤋
Step 1. Ask a more specific question. More than half the US population could make that statement. Your local church may be able to help. A second job is often a good option. Do you quality for food Stamps or Housing assistance?
The ONLY thing I can say for sure based entirely on your question is that a loan is the LAST thing you need.
2007-09-23 15:01:43 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
Depends what you bills are. Do not let your house go default to pay Visa. Pay the important bills first Food, house, lights, and vehicle then pay what you can and what else can you do. You need to write a budget and find out where your money is going. Please go to Daveramsey.com and that should help. I know it is scary but you can handle it. Just learn from this and never let yourself get back to this point.
2007-09-23 15:07:08 · answer #3 · answered by Steven M 2 · 0⤊ 0⤋
go for credit consolidation
2007-09-23 14:05:00 · answer #4 · answered by Devils Advocate 2 · 0⤊ 1⤋