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I am looking for a reputable debt consolidation loan that will help me consolidate $65,000 in unsecured debt into one payment so that I can more easily manage it. I have an income of $76,500 per year. Can you make recommendations?

Have you considered a debt management Plan ? It will get you one payment with lower aprs like a consolidation loan except you don`t have to put up any collateral. Most financial advisers will agree with me that turning unsecured debt into secured debt is a bad idea.

Sub: #1 posted on Fri, 08/01/2008 - 07:11

mobile0311 mobile0311
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Yes, debt consolidation loan might be a solution, but in your case it seems debt settlement is a better option. But let me tell you that debt settlement is used in severe debt conditions especially to avoid bankruptcy. Debt settlement can reduce your debt burden by 50% or more. But the downside of settlement is that, it can affect your credit score tremendously and consequently hamper your future credit accessibility.

debt management Plan, as Mobile advised, can also be a good solution for you to get out of debt.

But I think you are the best judge of your own financial condition. So, before selecting a debt relief program, please go through the different debt solutions.

Sub: #2 posted on Fri, 08/01/2008 - 21:52

phoenix phoenix
(Posts: 1445 | Credits: )

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