Question
Date: Thu, 10/15/2009 - 19:29
What if I'm able to pay my bill and they are current? But, I would still like to consolidate my loans to just one loan and one interest rate.
Quote:Originally Posted by AnonymousWhat if I'm able to pay my b
Quote:
Originally Posted by Anonymous What if I'm able to pay my bill and they are current? But, I would still like to consolidate my loans to just one loan and one interest rate. |
Yeah, you can do debt consolidation even when you're current. But just weigh the pros and cons well before taking decision. See if you can 'do it yourself'.
I think the OP isn't actually talking about "Debt Consolidation"
I think the OP isn't actually talking about "Debt Consolidation" as we are familiar with the term - but rather an actual loan that is used to pay off other creditors, leaving only 1 monthly payment to that lender.
That is a possibility, but since it is a loan you would need to fill out a credit application, and it would be subject to underwriting criteria and lender approval. If approved, instead of giving you the money directly, the lender would cut proceeds checks to your other creditors to pay them off.
