Question


pololous

Credit card consolidation advice???

I owe 4k, 7k, and 6.5k to three different credit cards. Interest is near 30% on the first two and 19% on the last. I don't think a consolidation company is worth the trouble. Also in a side business I run I need to put down 15k to get some parts manufactored. Trying to get a line of credit for 30k but my first try didn't get approved. 1st of all I am not a crazy spender, these are all just bills from a project I under took and there were delays and that hurt my timing on when I would see profit. Now that I am incurring interest it is hurting and a problem. -I heard going to my bank or a bank, explaining the situation and asking for help. They may pay off my credit cards and place me on a low interest loan or something else. Also because they value my future business with them? -I don't have any land, etc but a decent mortgage and buy some property and use some of the extra money left to pay these bills or refinace? I am open to any advice or guidance on this situation.

3 years ago - 4 answers

Best Answer

Chosen by Asker

Refinance and pay off debt and get additional money from your equity. Call my motgage guy, Glenn Silvera compedative rates has done 3 loans for my family.. office 561 683 9168 or Cell 561 309 5539, he hates when I give that out hahahahahaaa At the very least you should call him and laugh then hang up!!!! Do It!!! Im evil...

by ruaclevermind

3 years ago

Asker's Rating: 

Other Answers

I'm a credit advisor and i would say absolutely not.. Credit consolidation is the same as a BK to your credit.. Best thing is to try to work it out or instead of paying a debt consilodation company a money fee just go Bk and is closed in 4 months..

by Bigtima- 3 years ago

Bad credit is one of the worst problems to have... however there exists a solution. I will hereby talk from my personal experience. I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details, if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first, a good place to start in my humble opinion is astraight to the point ebook with question and answer I found : umgarticles ... if it helps kindly remember me in your voting!.. cheers!

by gabriel s- 3 years ago