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Send message to shereeag
Sub: #1 Debt Consolidation Loan
Replied on 12-29-2006, 09:38 AM
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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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Send message to Lorri
Sub: #2
Replied on 12-29-2006, 09:43 AM
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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?

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Send message to Howard
Sub: #3
Replied on 12-29-2006, 10:08 AM
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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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* Disclosures:
  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
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