I need help with a consolidation loan for poor credit due to deaths in my family. I am DESPERATE!?
Answers:
Don't consolodate your loans. Clean up the mess instead. You can't solve your problems by moving your debt. You need to pay back the debt.
file bankrupcy and start over.. it s availd thing to do.
I am sorry about your loss. It is very hard now a day to apply for loan especially when your credit is not to good. I work for a credit union and I know that we can be a pain. Do you have any family members that can apply for you and lend you the money? Hope everything goes well. Good luck!
I agree with the first answer. Its not the best thing but, if you are behind with your payment then you should/could file for bankruptcy and start from scratch. When too much damage has been done in your credit your just better of starting from scratch.
Don't consolidate your loan. It doesn't help you. Consolidating doesn't lower your total debt. It consolidates. Since you are in a hardship situation, you should consider either bankruptcy or debt settlement. I would never advice someone to pursue on the bankruptcy route unless they have to. In your case, bankruptcy might be your option. ALternatively, you should talk to debt settlement companies. They negotiate your debt for 40% or 60% of the amount you owe. Both route will hurt your credit; however, you will be able to pay off your debt a lot faster and get back on track a lot faster.
Debt Relief Options
If you are faced with mounting debt, or just want to learn more about budgeting and debt management, the information in the links below can help:
Repaying Debts
Credit Counseling and Debt Management
Making a Budget
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Is There Anybody in Particular I Should Contact About My Options for Alternatives to Bankruptcy?
Yes. If you are behind on your payments, the collectors for each of your creditors may already be calling or writing you. You might be more successful if you phone each creditor, ask for the collection department, ask and note the name of the person you talk to, and explain your intent to repay the account and your need to stretch out the number of monthly payments and reduce their size. You might offer to come to the collection department office to discuss your situation. Ask each creditor to agree to a voluntary plan for the repayment of your debts.
Family Legal Guide
Copyright © 2000, 2002 American Bar Association
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PERSONAL NOTE: You may be eligible to borrow against the equity in your home. Speak with whomever you did business while you had a mortgage payment (or current mortgage lender). The money paid up to now may be available (and then some) to help you to regain your payment schedule. I never consolidate because I tend to use the lack of payments to acquire additional debt. (One may always find something or another to need replacement or as desirable at any given time.) A personal loan for $20,000 is steep for most lenders. They will need something to attach to it as collateral in the event of non-repayment...such as a mortgage or home equity.
Good luck with your endeavor and my condolences on your loss. Speaking with an attorney about your options if it becomes necessary to obtain debt relief through the court system is advised. Also, they (attorney) may be interested in learning more about your tragedy...especially if it was not their fault. Take care..get some rest..and remember that counseling for depression or stress disorders [see last source below] may be in order. It happens whenever life's stresses are too great for us to manage -- did not expect it -- did not know how to deal with the grief.
Posttraumatic Stress Disorder (PTSD)
When terrible things happen, many people are lastingly affected; in some, the effects are so persistent and severe that they are debilitating and constitute a disorder. Generally, events likely to evoke posttraumatic stress disorder (PTSD) are those that invoke feelings of fear, helplessness, or horror. These events might include experiencing serious injury or the threat of death or witnessing others being seriously injured, threatened with death, or actually dying.
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Schedule an appointment with your doctor to talk about the grief process; schedule an appointment with a Bankruptcy Attorney to learn of your options and how to determine what your legal rights in regard to indebtedness; and, then schedule an appointment with your bank in regards to a home equity line of credit or second mortgage.
These should enable the professionals needed to help you get back on track.
i give out loa with 5%interest rate any one interested can email johnnice4all2007@yahoo.co.uk
A debt consolidation loan or debt loan is a method to repay all debts incurred by overuse of credit cards, overdrafts, personal loans, store cards, or any other unpaid bill and allows you to make a single monthly payment. It is a viable alternative to bankruptcy and is an excellent method of bettering your payment history, leading you to a debt free future. The reason to choose the debt consolidation loan is pay lower rate of interest. Paying only one creditor is much more convenient. You can pay your creditors on time and prevent them from threatening you.
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Name
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