Do I have to default to opt for consolidation?
Yes. So, if you want to opt
Yes. So, if you want to opt for consolidation and you've been making payments, then contact the creditor and explain your financial condition and try to convince so that they agree to your proposal.
The problem is most creditors
The problem is most creditors don't agree to slash interests or outstanding balance unless you default. They think you can make full monthly payments easily.
No, if you are struggling to
No, if you are struggling to make payments, then you can go for consolidation.
Submitted by Sanders Patricia on Wed, 11/01/2017 - 06:14
No... nothing like that. You
No... nothing like that. You can opt for debt consolidation anytime you want. Regardless of your payment status.
Not at all...if you are
Not at all...if you are having trouble to afford regular payments, then you can opt for the consolidation option.
I don't think it can be a
I don't think it can be a wise option because it will put a negative item in the credit report.