Debt Consolidation - options??
Date: Thu, 04/15/2010 - 19:00
HELP! Have a large amount of debt ($45,000) and trying to consolidate it to lower monthly payments. Own our home and have tried refi but the appraisal leaves us with only about 82-83% equity in the house. Sure we could refi the mortgage but it only reduces the mortg. payment by about $150 and still leaves us paying $1,450/mo. on credit cards. We desperately wish to reduce that $1,450/mo! Have looked into personal loans but most are 5 year terms and still keeps the payment high for us. We've been able to pay the minimums so we don't really want to look at any drastic measures, we just need some relief. Obviously, paying just the minimum payment on that much debt is not helping.
Any suggestions?? Thanks!
Any suggestions?? Thanks!
Debt consolidation companies may be able to help you in negotiat
Debt consolidation companies may be able to help you in negotiating lower rate on your cards. That might give you some relief. You can also check out at option like balance transfer. Also, I'd suggest that you shop around for a consolidation loan. If you have great score, you may still get a loan at a reasonable rate of interest.
