however, secured debt consolidation loans work for many people, so this is an option to consider carefully?
the savings center is a great resource to help you find a lender for this type of loan.
i encourage you to explore the debt help page to read more about these and other options available to you.
Simply put, it brings a number of debts into one easy payment.
I would like to get a loan to pay off credit cards (about 10,000), but am having troubling finding anyone who will loan me enough money because I filed bankruptcy.
if you own a home, a secured debt consolidation loan may be right for you.
you would then make a single monthly payment to the cccs which would distribute the funds to your creditors, based on the new payment amounts. first, depending on your creditors, it may not be able to reduce your monthly payments enough to improve your financial situation.
second, it may have a negative impact on your ability to obtain a loan, so you may not wish to enter into a dmp if you anticipate any large purchases, such as home or an auto, in the near future.
while i know that there are several fly-by-night debt settlement operations on the internet, there are also several very good operations that may be able to help you.
rather than making monthly payments to your creditors, these programs negotiate lump sum settlements with your creditors, frequently reducing your debts by 50% to 60% of your principal balances.