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What are the documents required for consolidating debts?

Date: Wed, 03/14/2018 03:36
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Hey,

I'm in a really bad situation right now and it's going to be terrible. I lost my job due to the recession and I'm struggling to find a new one. I wasn't able to make payments including monthly debts of credit cards and mortgages due to the job loss. I have heard that the debt consolidation process involves combining several high-interest loans into a single debt with a lower and affordable interest rate.

I doubt whether I'm eligible for a consolidation. I have heard about a few professionals in Brampton offering consultation on debt consolidation. I don't have any experience working with them. Which all factors can help us get a better interest rate, other than the credit score and income? What are the documents required for consolidating debts? If you know something related to this, please let me know. Thank you in advance!




Are you talking about a debt consolidation loan or a program?

A debt consolidation program is a better option since your credit score won't play any role there. Yes, the debt counselors will ask about your income. But they need that to create an affordable repayment plan for you.

Check this page:
https://www.debtconsolidationcare.com/companies

You'll get a list of reliable consolidation companies.

Sub: #1 posted on Thu, 03/15/2018 - 04:13

ditchdebt ditchdebt

(Posts: 667 | Credits: )

yes, taking out a consolidation loan can help you to pay off the debts. Make sure you make regular payments on the new debt.

Sub: #2 posted on Thu, 03/15/2018 - 06:11

sanderspatricia29 sanderspatricia29

(Posts: 751 | Credits: )

When you take out a consolidation loan, the creditors will check out your creditworthiness, for that you'll have to provide your SSN.

Sub: #3 posted on Thu, 03/15/2018 - 06:18

Mabelle Page Mabelle Page

(Posts: 167 | Credits: )

I think you should follow what "ditchdebt" suggested earlier. It is clear that you are looking for a debt consolidation loan. Like any other loans lenders will definitely check out your creditworthiness.

Sub: #4 posted on Fri, 03/16/2018 - 02:39

tiarajoseph11 tiarajoseph11

(Posts: 346 | Credits: )

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