debt consolidation, where do I start?
Date: Sat, 07/14/2007 - 18:53
This does not count the 16K auto loan, nor the 30K in student loans.
I think we should consolidate but I'm not sure what path to go down.
We are currently trying to get out of a Condo in Chicago so we can be fully moved to PA right now she's there and I'm here.
The mortgage on the condo is 208K
I think we should consolidate the loans but I'm not sure where to start... our credit scores are both about the same in the low 600's, so I think we should be able to qualify for at least a mediocre consolidation laon.
The cards are at an average of probably 17% interest... we could get one loan of 30K @ 10 to 12% we'd be in a much better shape.
After my condo is sold I'd be able to commit to a 1500$ a month payment no problem.
Blake, welcome to our forum. I would sign up for the free consul
Blake, welcome to our forum. I would sign up for the free consultation...someone will call you and possibly give you the information your looking for to help make a good decsion.
In my opinion you should contact a credit counselor to decide wh
In my opinion you should contact a credit counselor to decide whether you should go in for debt consolidation or not. Though debt consolidation is a popular way to handle debts. You can combine your high interest rate loans to one single manageable loan that too at a lower interest rate. However for some people debt consolidation is not the best way out to get out of debt. consolidating your debt does not make any sense if you are not finding good interest rates or the rate on your new loan isn't better than what you are paying on your current loans. So it is always advisable to talk to a financial professional before taking any action.
