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I have alot of credit card debt, how can I get a personal loan to pay them off without hurting my good credit?
I contacted a debt solution program but they say my credit will be hurt until I get these paid off. My credit is real good I just have alot of credit card debt that I would like into one lump sum with a fixed monthly payment. I cannot take a home equity loan due to a second mortgage for a business loan. My local bank said I don’t have enough assets for a personal loan to cover the whole amount.
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- Will taking out a car loan hurt my chances of buying a house?
- Pay off huge student loan debt vs save for down payment?
- Can the bank apply a payment for mortgage to another loan?
- Pay off car loan or save for home down payment?
- How to obtain a home loan for more than the home costs?
- Can you change a home equity loan to a personal loan?
- Is it better to take out a personal loan or apply for another credit card?
- Should I pay off car loan early or save for a home?
- If I’m current on my mortgage but am ready to default on my home equity loan,what will happen to my home?
This entry was posted on October 1, 2009, 7:37 am and is filed under Personal Loans. You can follow any responses to this entry through RSS 2.0. You can leave a response, or trackback from your own site.
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How exactly does a secured loan work?
December 15, 2009 - 11:18 pm
Posted in Student Loans | 3 Comments
If I got a secured loan against my home and I sell me home, do I have to pay my unsecured loan off when I sell my home? Or can I continue to have my loan and pay it off every month for the term of the loan?
No, I am not talking about a home [...]
Will taking out a car loan hurt my chances of buying a house?
August 5, 2009 - 10:05 am
Posted in Car Loans | 7 Comments
My Husband and I are stil unsure of renting or buying right now…Its kind of complicated since he just got out of the military and we just moved back to MA across the country and are currently staying with my family. We always used one car because e lived on a small military base…now we [...]
Pay off huge student loan debt vs save for down payment?
June 1, 2009 - 7:16 pm
Posted in Student Loans | 1 Comment
I will graduate in December with about $100K in student loans. Would like to buy my first home in the next 2 years. My projected gross income is $85K. Should I save for down payment? Pay a big chunk of student loans? A little of both? I have [...]
Can the bank apply a payment for mortgage to another loan?
April 4, 2009 - 1:42 pm
Posted in Home Loans | 4 Comments
We have (2) loans, our mortgage and a line of credit on our home equity. My husband lost his job and we were trying to keep up the payments on our mortgage. When he paid a payment he used a payment coupon for the mortgage loan. Instead of applying the whole payment to our mortgage, [...]
Pay off car loan or save for home down payment?
March 19, 2009 - 11:28 pm
Posted in Car Loans | 7 Comments
I’ve just received my first bonus at my first real job and have enough money to pay off a car loan (5.39% interest, $28750 payoff amount, 45 months remaining). As it is now, out of my $707 monthly car loan payment, approximately 20% goes to interest and the remaining $565 goes to paying off [...]
How to obtain a home loan for more than the home costs?
February 8, 2009 - 6:54 am
Posted in Home Loans | 6 Comments
Is it possible in our current market? If so, can it be in one loan? Say the home is purchased for $120k, can the buyer ask for another $20k for personal debt? Does this have to be done with a home equity loan?
Related Post:How exactly does a secured loan work?How and where can I get [...]
Can you change a home equity loan to a personal loan?
October 7, 2008 - 12:35 pm
Posted in Personal Loans | 3 Comments
My brother-in-law took out a home equity loan and he went to refinance his house and for whatever reason the house did not appraise for what it needed to partly because of the home equity loan that he already had. He was told to pay off his home equity loan and come [...]
Is it better to take out a personal loan or apply for another credit card?
March 28, 2008 - 9:51 pm
Posted in Personal Loans | 4 Comments
I am trying to pay off credit card bills ($2,000 in credit card debt), get a new laptop and set aside $2,000 for a deposit on an apartment for next year. Is it better to take out a personal loan or apply for another credit card and do a balance transfer on it. Thanks!
Related Post:I [...]
Should I pay off car loan early or save for a home?
March 20, 2008 - 1:51 am
Posted in Car Loans | 4 Comments
I will be moving in with family and will not have the cost of rent and utiltiies. Should I pay extra towards the principle of my car loan, or should i bank the extra money for a down payment on a home.
I have no credit card debt, but have a $3800 loan with fixed [...]
If I’m current on my mortgage but am ready to default on my home equity loan,what will happen to my home?
February 15, 2008 - 4:18 pm
Posted in Home Loans | 3 Comments
I currently owe 60000.00 on my original mortgage loan and 25000.00 on my home equity loan the 2 are from different financial institutions.My home was used of course as collateral for the equity loan,what happens to my house if im current on the mortgage but maybe defaulting soon on the equity loan???
Related Post:How exactly does [...]
October 3, 2009 - 6:23 pm
Stop trying to borrow your way out of debt. Please go immediately to the website below. I am a serious Dave Ramsey fan. Working his plan has caused (in 2yrs) about a $150k positive swing in our household’s net worth. BUT, his plan is all about sacrifice. We hardly ever eat out, we have no cable, no credit cards, no home phone & our newest car is 15 y/o & was purchased w/ $1700 CASH. We coupon religiously & I cook from scratch for most meals. Our teenager works for every nickel he gets (except basic food & clothes). In short, if there is no cash to buy it, we don’t buy it.
BTW, those credit solutions places will ***** up your credit as bad as a bankruptcy & you will probably end up getting sued by the creditors, anyway. PLEASE don’t do that to yourself.
October 5, 2009 - 12:02 pm
I was in a bad way many years ago and went to my regular bank with no luck for a personal loan, so I went to another bank and another bank. I finally found one that would loan me the money. It saved my ****. I do not know your situation but it is worth trying other banks.
Refi you house again maybe.
It is true however, that at some point you have to stop living on credit. Kind of a downward spiral. Maybe if your business is not doing well, it is time to look elsewhere for employment to help pay your bills. Facing reality can be the hardest of things to do.
October 8, 2009 - 11:43 am
Tax Maven has some good ideas. Common sense stuff. One thing he didn’t mention tho….
Instead of going the ONE lump sum, talk to your creditors. Explain your situation to them. I did this with a couple of Credit places and they were helpful in cutting some penalties. The way they look at it is…..if they at least get SOMETHING from you….it’s something. I’ve been able to pay off Cards with only 50% to 66% of the total amount owed. It shows a blemish on your credit, but it’s a LOT better than taking out another loan…..which shows on your credit also….but in a REAL bad way