Consolidate Credit Card Payment

No bank gives no money down home loans anymore. To get an FHA mortgage, you need 3.5% down. 5% is minimum for a conventional mortgage, 10% is better, 20% is best. If you put down 20%, you avoid paying private mortgage insurance (PMI). They were a major cause of the foreclosure crisis because since the owner had nothing invested in the house, they had no incentive to keep paying the mortgage when housing prices tanked.

Banks will also not consolidate credit card debt into a mortgage either. They want the mortgage to pay for the house, not your credit cards.

2009-08-22 03:35:06 by catchy

Ways to consolidate credit card debt include using balance transfers and contacting a credit union or bank for loans. Condense credit card debt ...

I just got out of school last may 2006, then in January of 2007 I decided to go back to school to get my teaching certificate. I will be done in May 2009, so my income isn't as much as I would like. I was wondering if there is a place that is trustworthy that I consolidate my credit card payment, my paypal buyers credit, and my dell account into one place so I can have one monthly payment so I can pay it off quickly.

One other question is there a way I could get them all defered till I'm out of school again, where I can start working full time? Or is there a place I can get a lower interest rate loan to pay all of them off with, and then defer that payement until after school? I just want to get all my geese in a line! I hate paying several different bills!

If I may make a suggestion - Don't do the consolidating..... to my understanding they basically tell your creditors that you can't pay them, but if they do a settlement they will get paid now and the creditor usually agrees, but marks it off as bad debt or something like that and closes the account.... or something like that...... I did hear it hurts your credit score big time........

I suggest contacting a credit counselor (a non profit one) or even contacting Suze Orman at http://suzeorman.com and she will be glad to help you......... But from what I heard (and if I remember right it was on a episode of Suze Orman which airs Saturday nights on MSNBC that it does hurt your credit if you consilidate......

Also, to pay them off quickly.... start with the one with the least amount (lets call this card 1) and pay extra on that one..... once paid off and if you can afford it take the payment and if possible the extra payment that you would have paid on Card 1 above and apply it to your next card with the least amount, etc, etc..... until all is paid......

Hope this helps.......

2007-06-15 19:22:19 by ashieannie

Hi,
I am student and am getting nervous about my credit card debt ($5,000). It is such a hassle to pay on each card each month. I want to consolidate all the debt and make one payment each month and start paying them off. It's difficult bc I am student and do not have an income. I have school loans I use while in law school. Any suggestions?

Most will let you get a consolidation loan. Have you tried getting a student loan and using that instead of a bank loan. This way you will not have to repay it until you graduate. Good luck!

2007-12-16 15:33:52 by elwoods10

Go to your bank, find out about home equity loans, you will have to know if there is equity in your house though, also refinancing, you can go to yahoo and find out also google, but your local bank should have something that you can do. or either the mortgage company you are with. give them a call, they should also be able to help you with that.

2006-11-19 03:55:45 by lorenzowheeler

I have 3 student loans out from college: 1 state, 1 federal, and 1 from my bank and a maxed out credit card that I am paying off. Is there a way I can consolidate all of these together for a lower monthy payment? Right now I pay each bill seperatly and the interest rates keep climbing! Any advice? I am under the impression that I cannot consolidate state and federal loans together...am I wrong about this?

If a person has accumulated a large amount of credit card debt due to multiple credit cards, the need for a proper counseling for credit card debt consolidation can't be understated. Credit card debt consolidation counseling helps a person get vital insights into the facts that can help him get control over the credit card debt.

Credit card debt consolidation counselors are experts with a good knowledge of debt management, budgeting and behavioral patterns of credit card holders. These services are vital for those struggling to manage their credit card debts. Also called credit counseling or debt counseling the credit card debt consolidation counseling brings immediate relief to a credit card holder.

A person seeking credit counseling can get it from two types of organizations. The professional or commercial organizations, and the non-profit organizations. As depicted by its name or categorization, the commercial organizations charge money for their credit counseling sessions and consolidation help on the other hand the non-profit organizations offer free of charge services. Just because the non-profit organizations are free, it doesn't undermine their quality of service. The persons associated with such organizations are thorough experts and have lived the trauma of being under credit card debt themselves and hence bring their vital experience to the credit card holder. Read more from: http://www.credit-card-gallery.com/artic le/353,Credit_card_debt_consolidation_an d_credit_counseling_great_tools_to_get_r id_of_credit_card_debt

2007-09-17 13:39:50 by summerlvr