2007-12-26 07:11:25 · 7 answers · asked by squirrel9707 1 in Business & Finance ➔ Personal Finance
Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loanold loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so you’ll no longer have to deal with harassing phone calls and daily mail.
2007-12-26 13:08:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
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2016-09-27 22:07:15 · answer #2 · answered by ? 3 · 0⤊ 0⤋
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2016-09-28 19:36:23 · answer #3 · answered by Alton 3 · 0⤊ 0⤋
Many people looking for debt consolidation loans with bad credit profiles contact their bank or credit union first. And while it makes sense to do business with an institution that you already know and trust, you may be disappointed if you get turned down for a loan. Banks and credit unions offer a variety of traditional loans and other products, but they typically don’t cater to debt consolidation loans for people with bad credit. Banks and credit unions often use a risk-based pricing model, meaning the bigger the risk they think you are in terms of repaying the loan, the higher the interest rate they’ll charge you. So even if you get approved for a loan, you could end up paying more in interest and fees than someone with better credit. So whether you are approved for a loan at a high interest rate, or you get turned down because of your credit, remember there are plenty of other options for debt consolidation loans for bad credit. Just keep doing your research and contact other lenders and debt relief companies before signing any paperwork.
2016-05-26 09:22:42 · answer #4 · answered by ? 3 · 0⤊ 0⤋
I don't know enough to answer --- but yes you can if you have enough equity in your home and the credit to do so. --- But I would not like to see an auto loan (depreciating asset) in a home mortgage (appreciating asset).
2007-12-26 07:20:07 · answer #5 · answered by golferwhoworks 7 · 0⤊ 0⤋
if you have enough equity on your house you can get a home equity loan to pay off the personal and auto loan.
2007-12-26 07:20:26 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It could be. I'd suggest you inquire at your bank. You may also want to see whats offered by reputable online companies - perhaps try a site like
http://www.creditcarddebt-consolidation.org/
and compare whats offered.
2007-12-26 11:24:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋