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 Posted: Fri Aug 01, 2008 5:19 am Subject: Resources? |
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I am looking for a reputable debt consolidation loan that will help me consolidate $65,000 in unsecured debt into one payment so that I can more easily manage it. I have an income of $76,500 per year. Can you make recommendations?
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stlbroad
Joined: 01 Aug 2008
Posts: 1
Debtcc Points: 12
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mobile0311
Joined: 05 May 2008
Posts: 1350
Debtcc Points: 7169
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| Posted: Fri Aug 01, 2008 9:52 pm Subject: |
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Yes, debt consolidation loan might be a solution, but in your case it seems debt settlement is a better option. But let me tell you that debt settlement is used in severe debt conditions especially to avoid bankruptcy. Debt settlement can reduce your debt burden by 50% or more. But the downside of settlement is that, it can affect your credit score tremendously and consequently hamper your future credit accessibility.
debt management Plan, as Mobile advised, can also be a good solution for you to get out of debt.
But I think you are the best judge of your own financial condition. So, before selecting a debt relief program, please go through the different Debt Solutions.
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phoenix
Joined: 14 May 2008
Posts: 867
Debtcc Points: 5618
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