No home to use for equity, denied for personal loans and additional credit cards everywhere, cannot work at this time due to illness, debt relief companies do not deal with payday loans, help?
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Sun, Oct 25, 2009
October 25th, 2009 at 2:42 am
you might try lendingclub.com
October 25th, 2009 at 2:42 am
I’m a bit lost here. Are you saying that you want to obtain a debt consolidation loan to satisfy payday loans? Unfortunately no bank or credit union is going to back this kind of debt, especially now with the credit crunch. No income, probably already close to the max of your debt/income ratio. No collateral. You really have no options on a loan.
If times are this bad for you, I would check with the CCCS (Consumer Credit Counseling, not the ones you hear on the radio/television). They are non-profit and can help. If you’ve tried that route with no success, maybe speak to a lawyer about bankruptcy?
October 25th, 2009 at 2:42 am
Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loan<!–allows you to condense your monthly payments into a single, simple bill, while lowering your interest rates and helping you pay down your debts more quickly and easily. It is also an essential tool in avoiding the much more serious step of declaring bankruptcy.
http://best-loans.awardspace.com/Loan-Consolidation.htm
Unlike bankruptcy, in which debts are cancelled and your credit rating collapses completely, debt consolidation loans are essentially a type of refinancing, where several–>old loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so you’ll no longer have to deal with harassing phone calls and daily mail.