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 Posted: Fri Dec 29, 2006 10:38 am Subject: Debt Consolidation Loan |
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Hello All,
I'm new here. Would like some advice. I've already calculated my unsecured debt at $30,000. I do not own a home so I cannot get a home equity loan to pay off my unsecured debt. I'm hoping to be able to get an unsecured debt consolidation loan for 5 years. Any reccomendations?
Thanks! 
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shereeag
Joined: 29 Dec 2006
Posts: 1
Debtcc Points: 46
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| Posted: Fri Dec 29, 2006 10:43 am Subject: |
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Welcome to the forums! I want to invite you to browse through the different postings and feel free to ask questions or answer some if you so desire. Since you registered as a member you are entitled to receive a free debt counseling phone call and you can ask questions pertaining to your finances. In the meantime, would you like to post any other information about your situation that one of our members could possibly help with?
_________________
"Never give up on someone you can't go a day without thinking about".
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Lorri
Moderator
Joined: 27 Apr 2006
Posts: 1730
Debtcc Points: 20984
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| Posted: Fri Dec 29, 2006 11:08 am Subject: |
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Instead of taking a new loan, look into some other better options at this link.
Taking a new loan will put you into more financial pressures because you will end up paying interests on your previous debts as well as for this new loan. Consolidate all your debts under one payment plan. You pay to your counselor and they send the payments to all your creditors. Just in case, if you would have taken a new loan, you will need to make payments on them. Comparing the two, debt consolidation will be a better option in my view. Talk to a debt counselor. He will look into your options.
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Howard
Joined: 30 Oct 2006
Posts: 312
Debtcc Points: 4766
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