Debt Consolidation

Welcome to the Community :D If you can give us a little more info, we can help,such as:

Who are the loans with, and are they with the original creditor or collection agency?

How much do you owe on them?

What state do you live in?

Are you behind on paying them, and when was the last payment made?

This info will help us point you in the right direction..karen

Dear Karen,

Thanks for your prompt reply...I stay in Mumbai, India.

I have a loan of 7.50 lacs which is approximately $15000. I earn around 27000 indian rupees or $563 per month. The EMIs on the loans come to around 20000 indian rupees or $416. This doesnt allow me to save any thing as my whole salary is gone into paying out loans....

i want to consolidate all the loans and keep only one loan going into my account, the duration of repayment should be more than 5 years....which will bring down my EMI and I am able to save as well.

My loans are with the banks it self.
My monthly EMIs are:

Loan 1:
Rs.6500 or $135.41

Loan 2:
Rs. 4500 or $93.75

Loan 3:
Rs. 4568 or $95.16

Loan 4:
Rs. 2587 or $53.89

Loan 5:
Rs.2468 or $51.42

I make regular payments to them and never been a defaulter.....But I am unable to do anything from my salary the entire salary goes in paying off my loans....i cant to any savings at all.....if it continues this way.....i might soon fall into a very big problem....

Rakhe.

PS: Please reply at the earliest.....

Talk to a good debt consolidating company in India. We don't have any knowledge on Debt Consolidation industry in India or any country outside US. But I can tell you that at your present situation debt management program will be an appropriate one. You may also go for debt consolidation loan.

Just curious.........do you have good 'resources' ( Debt Consolidation,etc.) in India? I'm not trying to be iggnorant..I just don't know what kind of 'overseas' opportunities you may have.