Hi Aaron
Welcome to the forums. Taking a loan to clear all the past debts will not be a wise move. Moreover, you have to pledge your property for acquiring a loan.
It will also be harmful if you miss any of the payments since your security will be attached to the loan. You might be at the risk of losing it.
Consider
debt consolidation programs to get rid of such problems. It does not require any security to be pledged and is offered at the lowest rate of interest.
Moreover, all the unpaid accounts will be put into one loan amount so there is no tension of missing any particular payment in the current billing cycle.
debt consolidation program will help in proper negotiations with your creditors and the total amount of your debt will be free from all the financial charges, late fees built on it. Thus, you will be offered to pay a reduced amount.
Moreover, you will also be offered various options for your repayment. You can choose the best option suitable to your present financial situation and become
debt free quicker.
After all your payments are complete through the debt consolidation program, the creditors will report your accounts as 'paid in full' to the credit bureaus and you will find your credit ratings improved instantly.
Enter into a free counseling with this website so that you can be sure of your best available options.
Regards
Roxette