Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an asset that serves as collateral, most commonly a house. In this case, a mortgage is secured against the house. The collateralization of the loan allows a lower interest rate than without it, because by collateralizing, the asset owner agrees to allow the forced sale (foreclosure) of the asset to pay back the loan. The risk to the lender is reduced so the interest rate offered is lower.
Sometimes, debt consolidation companies can discount the amount of the loan. When the debtor is in danger of bankruptcy, the debt consolidator will buy the loan at a discount. A prudent debtor can shop around for consolidators who will pass along some of the savings. Consolidation can affect the ability of the debtor to discharge debts in bankruptcy, so the decision to consolidate must be weighed carefully.
I would like to consolidate all my credit cards and car loan into one monthly bill so that everything is paid off and I have just one bill. I went to ...
I have recently gone back to school to get my teaching license and racked up quite the debt. I now have a total of 30,000 in student loan debt on top...
I have a lot of debt spread out among credit cards, private loans, hospital bill, etc. Is it possible for me to consolidate all of that into one paym...
Unfortunatly like most people now a days I ran into some financial trouble. I have accumulated some bad debt and need to get it taken care of. Im si...
I am 23 with a nine-month-old son, and I owe (on top of my student loans from college) approximately $30,000 in credit card debt. I am looking to do ...
I have a personal loan, car loan, and credit cards that I would like to pay off if possible with a home loan as I have been looking into purchasing la...
Hello all, I have a question regarding debt consolidation. I have about 15k worth of debt and have tried applying to two companies for a debt consolid...
I have a bunch of hospital bills that really cost me in credit scores. I really want to try to consolidate it but I can't find anyone who does debt co...
I am really bad with paying bills and my credit has taken a hit these past couple years. I make enough money where I should be able to pay everything...
I have a few credit card that are past due and I'm not able to make the payments. What is the best debt consolidation company to use? Keep in ...
How do you know which program is good and which one is right for you. I heard their is a way to check there beruo report or something, not sure what i...
I have been reviewing different websites for help with my credit card debt. Because of religious beliefs I am hoping to find someone that can offer Ch...
Are bill consolidation loans different from debt consolidation? I am confused in this two concepts. Want to know more about it and get my medical bill...
Does anyone know of a place that will provide a consolidation loan (not debt settlement) to people with good credit, but not excellent credit? I'm not...
I've heard that one of the things in the stimulus plan allowed for recent college graduates who are still in the grace period of their student loans (...
I have two jobs and still struggle to pay my student loans and for this reaosn I am considering a consolidation loan. Eventaully I owul dlike to go t...
I want to know if you personally found a company which considered your case and gave you a loan even though you have bad credit and outstanding balanc...
All the companies I have checked out are not offering consolidation loans because of the credit market. There is no way I can make payments with out ...
Can you consolidate debt if some credit cards are already in collections and if one is wanting to sue you? Does anyone know of a good company that ca...
I have good/poor credit and most of the loan sites I've tried deny my loan application. I'm looking for any suggestions anyone might have. I have rou...
I have only one negitive on my credit report, 90 day late payment on a student loan from 2003. The loan has been payed in full for over a year now. Bu...
Can you give me insight as to the best way to save money, make money or consolidate current debt so that living paycheck to paycheck and worrying abou...
If I do not have a perfect credit score and I am past due in some credit cards what is the best company to consolidate debt with so I can make one pay...
Consolidate debt? Too many credit cards? How can I eliminate debt with out it hurting my credit/fico score? Do the consolidators companies hurt you...
I've become over whelmed with my credit card debt and I'm getting those phone calls because I'm missing payments and such. Anyway I'm looking for a cr...
If I let my cards slip for a while I don't know how much they've hurt my credit. I need credit card debt consolidation, will they accept me if my cred...
I wanted to do credit card debt consolidation but I am skeptical if this is a good idea with the economy. I am very far behind on my credit card bills...
I have a bunch of hospital bills that really cost me in credit scores. I really want to try to consolidate it but I can't find anyone who does debt co...
What is the perfect condition to consolidate credit card debts or bills. I basically wanted to avoid the quicksand situation. So looking for advice on...
What is the benefit of using debt consolidation for credit card debt? I am trying to decide to either call the credit card companies myself and negot...
I am at the final stage of paying off credit card balances. Just one more month, yippee!!!! I've also already paid off my car loan 7 months before the...
I'm paying off a lot of credit card debt and currently have my student loans in a deferral status. But the big monthly payments will start up again a...
We are looking for a home about $150,000 and we have about $70,000 in Private student loan debt at 7%.
Does that become your responsibility as well? I am assuming so, but I have heard conflicting stories on student loan debt, so if anyone could clear u...
Are you able to make your payments? I am just curious what everyone else is doing. So far, I have about $20,000.00 in student loan debt for 4 years ...
I know that not everyone takes out a loan for school but I just need an estimate number. I feel overwhelmed and stress out because I'm going to Nursi...
I am way into debt, and I can't claim bankruptcy on it all because some of it are school loans. I was wondering if I could Consolidate all of it, and ...
I am now working full-time and although I'm not making a ton of money; would it be in the best interest of me to consolidate my loans and start paying...
I have several Sallie Mae Signature Student Loans out, and I'm supposed to begin repayment in late November. I know nothing about finances, but I'v...
I have a bunch of student loans. Some federal, others private. I have no idea how I consolidate them or what is the best way to do it. Can anyone help...
Our kids have private student loans with Citibank. They had the best consolidation options when the loans were obtained and now they won't consolidat...
Hello. I am a recent law school grad with 120k of student loans (both private and federal) and I'd like to find out a way to consolidate my loans and ...
I'm looking to refinance for debt consolidation. Is it better to refi my first mortgage which is at 5.625% or obtain a second mortgage?
I have debt that I want to consolidate into a home purchase, since I found a home that is priced well below appraised value. Since there is already e...
I just have a lot of credit cards but no other types of debts really.
We have a mortgage for 146,000. Value according to mortage holders is around 205,000. We have a fixed 6.65% rate and have 26 yrs left on mortgage. Cur...
I'm a loan officer for Access Mortgage and Financial, we do 500+ credit scores. Contact me toll free at 877-LOAN-103 and ask for Josh. We do first tim...
Does anyone know of a RELIABLE, CREDIBLE debt solution/management program company other than Green Path. And please no spam.
Which would be best if you have good income but not enough to meet monthly bills, utilities, unsecured debt & your house is upside down $188,000, ...
What "cost" for debt solution to lower my credit card bill? Does my Fico score will go down because of it? Do I still able to use create c...
My boyfriend is in an estimated 7 to 10 thousand dollar credit card debt, he has not paid his creditors in over a year. He is trying to get back on hi...
i don't have any credit cards, but i do have student loans and medical bills. can i enroll in a debt solution program?
I owe 10 grands including all of my credit cards, I don't make a lot of money at this moment and think about appealing to credit card debt problem sol...
I have got about 1o k in debt/ credit card, store card overdrafts/ Anyone have idea how to resolve my problem
It's kind of funny if it weren't so sad. The "experts" are giving all the wrong answers and in fact making the problem even worse for the co...
I have unpaid debt from a Canadian University (which is not my fault, really). I now want to study in the US. Will my debt problem cause me further p...
point out the benefits and drawbacks from the viewpoint of the debtor country? why do you think the debt-euipty swap market have remained small over ...
I have lived in the uk for 8 years now as an overseas student and my visa runs out in a couple of months . I have no intentions on staying here and I'...
My bank account is being held by collections agency (debt problem). They got the Judgement (NY) and its been 2 years since i stopped paying the credit...