Anyone managed to consolidate their debts?
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rolfe
Apprentice
Joined: 10 May 2006
Posts: 3
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 Posted: 04/28/08 - 04:48 Post subject: |
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| You always hear about these debt consolidation companies. We have all seen it - "Cut your monthly repayments in half, with one, easy repayment loan!" But how accurate is this? Has anyone here actually managed to consolidate their loan? It all seems a bit on the simple side, and I can't help but feel there must be a catch somewhere. Right? |
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murvyn
Apprentice
Joined: 29 Mar 2008
Posts: 3
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| Posted: 05/28/08 - 01:52 Post subject: |
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| Well, of course the problem is that, by the stage you need this loan consolidation, you have quite a large problem already, to say the least. Getting such loan is easy when you don't need one. That is, when you have a great credit score. By the time you have sunk into debt, this credit score has become very damaged and this makes it rather difficult for you to get approved. No catch, just clever marketing... |
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