help
Date: Mon, 10/15/2012 - 02:18
i need some help i had a babe and when for debt review i use internet banking and made 2 payments with same about so one came back and i did not see it so my debt review was cancelled and now to apply for debt review or a loan or pay my creditors it is so hard what must i do or can u advise me where to apply for a debt consolidation loan with out a property
Quote: where to apply for a debt consolidation loan with out a p
Quote:
where to apply for a debt consolidation loan with out a property |
You mean without anything to back the loan with? Like assets, house, car, etc, right? You have to have a pretty good credit score to even be approved for the loan. Moreover, unsecured consolidation loans are rare if not non existent these days.
The interest rates on an unsecured debt consolidation loans are
The interest rates on an unsecured debt consolidation loans are higher than that of the secured ones. Most banks and financial institutions give out secured consolidation loans only. The maximum you can get is around $5,000.
As mentioned unless you're dealing with relatively small credit
As mentioned unless you're dealing with relatively small credit card debt balances (under 10k) at the penalty rate, you really are not going to be better served with an unsecured personal consolidation loan. You'll probably pay 15 percent interest or more on it. A secured consolidation loan is a great idea though especially if you use home equity... the inerest will be around 3 percent (even 2 in many cases if you have a checking account with the bank you borrowed from and let them autodraft it)...
