Getting a Debt Consolidation Loan

Hi Jaime Ann---I don't know if you realize that this site does not offer loans. And since you just registered you probably have not had your free phone call from a debt counselor. When you do get the call, you can ask about consolidation loans then. You can also browse the forum on here regarding getting a loan, you might have some useful information there. Good luck!

Oh I know it don't offer loans I was just looking for anyone who was in the same boat. thanks =)

Consolidation loans are pretty easy to get. Most dmp companies will offer, provided you are ready to put something as collateral. There is always a risk to the property if one payment gets missed.

Better option is to get enrolled in a debt management program if you are considering paying your debts through the loan. You won't need to pledge anything in this program. You will have to make one monthly payment to the consolidation company and they will post it to all your creditors.

Jamie, I would recommend that you contact a debt consolidation counselor before you go and get a loan anyway. debt consolidation loan only consolidate your debts into one easy payment that you can afford but the interest rates on those things can be so astronomical. Then when you get one and realize the extra money that you have left, you go into debt again. Trust me, you don't want a loan to pay a loan. That's not the way to go.

Have you tried to borrow the money from relatives or friends? Have you tried to contact your loan companies and requested payment options? Another loan is not the answer to your problems. Try to clear up your debts before you think about getting a loan.

But if you feel that a debt consolidation loan is your only answer, I would recommend that you pull your credit report from the three credit reporting agencies and look for any discrepancies on your account. You might be surprised to learn that you might have some errors on your credit report.