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Where Can I Get a Debt Consolidation Loan if I have Bad Credit
When you are in debt, there is a high possibility that your credit score is in a bad shape. If you are intent on using debt consolidation loans to get out of debt, then your options are limited because you are now a high risk borrower. That means you will be given high interest rates on your loan - APRs of 20% or more. Among your options will include payday loans that require immediate payment, secured loans that require collateral, and peer to peer lending wherein private individuals fund your...
Related topics : bad credit debt consolidation loan / get a bad credit loan
How to Qualify for a Debt Consolidation Loan
The qualifications of debt consolidation loans are there so you are given the lowest interest rate and monthly payment due possible. These are usually similar to what you will be required to have when you apply for a traditional loan. You need a stable income that can provide steady payments. Another requirement is either collateral or a good credit score. You only need at least one of them in order for you to get a low interest on your loan. Otherwise, you will be considered a high risk...
Related topics : debt consolidation loan interest rates / consolidation credit debt loan
What's the Difference Between Debt Consolidation and a Personal Loan
Debt consolidation can mean two things: debt consolidation loans and credit counseling/debt management. The latter involves hiring a credit/debt counselor who will help you through a debt payment plan. The former involves getting a loan that will help a debtor pay off their other credit obligations. The end result is having a single payment scheme that will allow them to concentrate on growing their funds instead of monitoring their debt payments. A personal loan is one type of debt...
Related topics : consolidation credit debt loan
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