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How can I consolidate my credit loans?
How can I consolidate all of the loans that are on my credit report? It's less than 10,000 and I'd like to pay it all off. I need to find away to make that happen. Like if I could get a loan for 9,000 pay each loan for whatever amount it may be then just pay back the 9,000 in monthly payments. Is this possible!?!
1 Answer
- 8 years agoFavorite Answer
That is entirely possible. To do so you have to go to a bank and request it. This will involve a credit inquiry and will be based on your credit history and income. You could also go to a credit counseling service and they can negotiate better repayment terms for you. Some charge a fee for doing this and others are nonprofit and will do it without a fee.
If you do go to a bank for a loan make sure that you make your payments on the cards first and pay more than the required minimum to lower how much you are paying in interest. Some consolidation loans will have much lower interest. They generally need good credit history, so if your history is bad, you won't qualify for it. If you don't qualify for it, simply go to a credit counseling service and you can get help from them.
