Debt Consolidation Options?
Date: Thu, 07/09/2009 - 17:03
I've got about ten thousand dollars in debt to various places, mostly due to my bungling when I was younger, and now that I'm settled with a good job I'd like to get it all cleared up. The problem I have is that I can't afford to keep up with the interest rates, which mostly hover at about 24%, and it's rather inconvenient having to send out seven checks every month, so I'd like to get a debt consolidation loan. As you might expect, my credit score is pretty bad (551, according to CreditKarma), and my personal assets might total three thousand dollars on a good day.
A co-signer on a loan is a possibility, but I'd really like to avoid that if at all possible. Are there options for me, or a system that might work with me? I've worked out the math and a budget and I could probably completely pay off the loan in about three years, but I'm not sure where or if I could get one. Any thoughts?
Thanks in advance, everyone.
A co-signer on a loan is a possibility, but I'd really like to avoid that if at all possible. Are there options for me, or a system that might work with me? I've worked out the math and a budget and I could probably completely pay off the loan in about three years, but I'm not sure where or if I could get one. Any thoughts?
Thanks in advance, everyone.
Just do research on places that give personal loans. I have one
Just do research on places that give personal loans. I have one through citifinancial and i know that capital one also does personal loans. If you have a good relationship with your bank or credit union they may be able to help. However, given your credit score, they may also have a high interest rate. I would call your cc companies and ask them to lower your interest rate or set up a payment plan with you. In addition, most of them have automatic payment options, so you wouldnt have to semd out a bunch of checks.
