CONSOLIDATION

Posted on Tuesday, July 15, 2008

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I AM $45,000 IN CREDIT CARD DEBT.. HAVE A CAR LOAN. AROUND $18,000 OWEING.. LAST YEAR IN 2007 MY INCOME WAS $62,000. CAN`T GET A LOAN FROM THE BANK TO CONSOLIDATE. I HAVE NO EQUITY.. IS THERE SOMEWHERE I CAN GO TO CONSOLIDATE MY DEBT..

Filed under: Money Management
 posted by Questions @ 6:35 pm
1 Expert Comment:

 At August 1, 2008 | 2:38 pm , Barton Goth GCO Bankruptcy Trustees Said...

Typically the best places to get consolidation loans are through your banks, so I recommend that be the first place you call. If you don’t qualify through your bank there are a number of what I call “high risk” lenders. A good example of one locally would be citifinancial and what places like this do is specialize in providing consolidation loans to those who can’t qualify through the bank. The downside is that the interest rates are often significantly higher.

Often if you can’t qualify for a consolidation loan the best thing to do is to contact a local trustee and you can discuss the filing of a consumer proposal or orderly payment of debt and they may allow you to get back in control of your finances.

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