Options
Date: Tue, 04/19/2005 - 11:10
Options
I am thinking about a debt consolidation loan. I am currently paying jusy over 1200 on 4 credit accounts One card is 25000 at 11 % another is 15000 at 6 % and second mortgage of 11000 at 8%. And a couple smaller items.
I was offered a loan of 56,500 at 13.7% for 20 years (690/mo)and I could probably add 100 every month. This would reduce my monthly payments by $600, and I'm still trying to send a couple kids through (community) college.
Does this look like a good option or arethere better ones?
Hi hart5 Quote:I am thinking about a debt consolidation loan.
Hi hart5
Quote:
I am thinking about a debt consolidation loan. I am currently paying jusy over 1200 on 4 credit accounts One card is 25000 at 11 % another is 15000 at 6 % and second mortgage of 11000 at 8%. And a couple smaller items. |
I think that you are paying much higher when you have options to reduce your monthly payments through debt consolidation.
You can have a look at this page http://www.debtconsolidationcare.com/loan.html and go through this site. Then you can compare yourself with what you are doing presently and make your decisions appropriately.
Regards
Roxette
RE:
Hi hart5,
Welcome to the debt consolidation care forum.
Cheer up!:D Solutions are handy.
debt consolidation programs consolidate your multiple loans into a single amount and help you to clear your debts in a reasonable period of time and with the help of an affordable monthly payment.
The debts of your multiple credit cards will be consolidated into one amount and all your late fees and additional taxes will be eliminated. Debt consolidation has proved to be a true friend for thousands of people under similar condition as yours.
Quote:
Does this look like a good option or arethere better ones? |
You are unnecessarily paying extra, when you have such a lucrative opportunity at hand. I recommend you to go for debt consolidation and you are sure to conquer your debts with flying colors.
For details view:http://www.debtconsolidationcare.com/benefits.html
However, feel free to come up with further queries and
give us a feedback of the happenings at your end.
Cheers,
Jason
Re: Options
[quote=hart5]:?:
I am thinking about a debt consolidation loan. I am currently paying jusy over 1200 on 4 credit accounts One card is 25000 at 11 % another is 15000 at 6 % and second mortgage of 11000 at 8%. And a couple smaller items.
I was offered a loan of 56,500 at 13.7% for 20 years (690/mo)and I could probably add 100 every month. This would reduce my monthly payments by $600, and I'm still trying to send a couple kids through (community) college.
Does this look like a good option or arethere better ones?[/quote]
I have been advised before that is is not a good idea to take out a loan to pay for a loan. There are debt consolidation programs that help to reduce your interest and your monthly payments. This option will prevent you from taking on more debt in order to pay for debt. This way will also help you to avoid giving up ownership to your most prized possessions in order to put up collateral. You can definitely find this kind of consolidation service on this website.
try debt consolidation
You should try to settle your debts by reducing your interest rate and the total payment; this will pull down your total monthly payments.
Vikas
