Is it possible to repay debt in 1 year if I opt for consoidation?
Date: Tue, 04/24/2018 - 22:42
Is it possible to repay debt in 1 year if I opt for consoidation?
Depends on the type of debt
Depends on the type of debt and the amount you owe. How much do you owe? How much can you pay every month? Share the details.
If your income is sufficient
If your income is sufficient to make the debt payments, it is possible.
Yes, it's completely possible
Yes, it's completely possible. You will just have to sticck onto the whole process and not lose hope! Also it depends on how much debt amounts you have.
And how much payments you can make to the consolidation company!!!!! Don't try to consolidate your debts alone!!!!! Most who do so, get frustrated midway!!!!!!
I have about $15,000 in 5
I have about $15,000 in 5 credit cards. I have seen that I can shell out about $1200 per month towards my debts. So, will it be possible in 1 year? If so, what do I need to do?
Yes, it's possible to repay
Yes, it's possible to repay your debt within a year if you can be consistent with your payments.
Negotiate with your creditors to reduce the interest rates on your debts so that it becomes easier for you to pay them off. You don;t have to opt for settlement. You can repay your credit cards with the help of consolidation if you want to.
But, it will financially be more helpful if you opt for debt avalanche. pay minimum on every card and extra on the card with the maximum rate of interest.
All the best!