How will a consolidation loan effect my finances with $20,000 in credit card debt?

How will a consolidation loan effect my finances with $20,000 in credit card debt?
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1 Answer

Answer :

A consolidation loan will pay off all of your bills and give you one payment. This program will only really work if you cut up your credit cards and have discipline.
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Related questions

Can I get a debt consolidation loan with bad credit?

Description : Can I get a debt consolidation loan with bad credit?

Last Answer : I don't see why not. Here's a good article I found that will help you: http://www.lendingtree.com/debt-consolidation/advice/ I hope that helps.

Should I Consider Credit Card Debt Consolidation?

Description : Should I Consider Credit Card Debt Consolidation?

Last Answer : Let the great debt-ate begin. Many Americans are still being hithard by the economic downturn of the past couple of years. Thoughthe economy is beginning to show signs of life and the job ... enjoyable either. Ofcourse, you weren't complaining when you were buying those JimmyChoo shoes or new Gucc

How much credit card debt do I need to qualify for consolidation?

Description : How much credit card debt do I need to qualify for consolidation?

Last Answer : Most debt consolidation companies advertise that you need $10000 in debt. There is actually no real amout, but less than $10000 and you are generally advised to pay it off yourself to save your credit.

Where is the best place to get an unsecured personal loan for debt consolidation of around $19k?

Description : Where is the best place to get an unsecured personal loan for debt consolidation of around $19k?

Last Answer : You might want to check out Propser, a peer-to-peer lending site.

What banks offer the best interest rates on a debt consolidation loan in the Boston area?

Description : What banks offer the best interest rates on a debt consolidation loan in the Boston area?

Last Answer : There are a lot of banks that offer good interest rates on debt consolidation loans. The best one to choose is Regions.

Is it wise to obtain a debt consolidation loan?

Description : Is it wise to obtain a debt consolidation loan?

Last Answer : Any time you can obtain a debt consolidation loan it is a good idea. This is especially true if you can lower your interest rate. You will simplify your finances and also get on a rigid repayment plan.

How do you know if a debt consolidation loan is a good idea?

Description : How do you know if a debt consolidation loan is a good idea?

Last Answer : Debt consolidation loans are good for people who are trying to keep track of lots of small bills like maxed out low limit credit cards, or for people with multiple student loans. By putting all the ... loan includes it, your rate will be higher and you will wind up paying more over time.

What is the different of the consolidation debt loan from other debt loan?

Description : What is the different of the consolidation debt loan from other debt loan?

Last Answer : Obligation solidification and obligation repayment assist you with paying off your obligation load, yet they do as such in various manners and by utilizing various systems. affordabledebtconsolidation Obligation ... pay a lower sum than what you owe, frequently in a single amount settlement.

A type of loan, where the bank or the lending institution provides the borrower with a loan that helps the borrower to pay off his all previous debts is termed as ________ A. Debt Recovery B. Debt Settlement C. Debt Management D. Debt Consolidation

Description : A type of loan, where the bank or the lending institution provides the borrower with a loan that helps the borrower to pay off his all previous debts is termed as ________ A. Debt Recovery B. Debt Settlement C. Debt Management D. Debt Consolidation

Last Answer : D. Debt Consolidation Explanation: Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others.

How do loans and debt consolidation affect credit score?

Description : How do loans and debt consolidation affect credit score?

Last Answer : If you pay your bills on time and in full each month it will help your credit score rise. If you are late on payments and have outstanding payments then your credit score will become lower. Your credit score is an important thing to help you obtain loans such as car loans or a mortgage.

When I compare my school loan statements and my credit card statement and my car loan it appears to me that school loans operate like credit card debt?

Description : When I compare my school loan statements and my credit card statement and my car loan it appears to me that school loans operate like credit card debt?

Last Answer : My loans were like a car payment, if I remember correctly. But have you ever deferred any of your loans or ever had them in forbearance? Depending on the type of loans you have, that would effect the total amount ... to pay them off. Ugh! Can't tell you how glad I am that that's over and done with.

If I consolidated all my debt, would I have a good chance of getting a credit card or loan with a decent cedit line? How long does it take to consolidate debt?

Description : If I consolidated all my debt, would I have a good chance of getting a credit card or loan with a decent cedit line? How long does it take to consolidate debt?

Last Answer : answer:Your eligibility for a credit card or loan with a decent amount of credit would depend on your credit report and credit history. Lots of open credit accounts, late payments, and number ... the lender you are looking to consolidate with. Both will look into your credit report for information.

Jocelyn takes home 2600 per month from her job as a paralegal if you’re only debt obligation or a car loan payment of 480 and a credit card payment of 80 every month is she in danger of credit overload?

Description : Jocelyn takes home 2600 per month from her job as a paralegal if you’re only debt obligation or a car loan payment of 480 and a credit card payment of 80 every month is she in danger of credit overload?

Last Answer : Yes, because the sum of $480 and $80 is greater than $520.2600x20%= 520

Where can I find more information about loan to pay off credit card debt?

Description : Where can I find more information about loan to pay off credit card debt?

Last Answer : There are a lot of sites offering advice on this topic. The first one I found is here: http://www.fool.com/personal-finance/credit/9-ways-to-pay-off-debt.aspx

Jake’s Market recorded the following events involving a recent purchase of merchandise: Received goods for $20,000, terms 2/10, n/30. Returned $400 of the shipment for credit. Paid $100 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company’s merchandise inventory a. increased by $19,208. b. increased by $19,700. c. increased by $19,306. d. increased by $19,308.

Description : Jake's Market recorded the following events involving a recent purchase of merchandise: Received goods for $20,000, terms 2/10, n/30. Returned $400 of the shipment for credit. Paid $100 freight on the shipment. ... . b. increased by $19,700. c. increased by $19,306. d. increased by $19,308.

Last Answer : d. increased by $19,308.

Where can I find a debt to income ratio calculator for my finances?

Description : Where can I find a debt to income ratio calculator for my finances?

Last Answer : Using a debt to income calculator allows you to see exactly what your income is and what is going out toward your weekly, monthly, or yearly debt. To find a debt to income calculator, simply search for this term using your preferred web browser.

If a country's debt-to-GDP is currently 25%and its debt is expected to grow from $16 trillion to $20 trillion in the next ten years, what will be the country's GDP have to be in 10 years to maintain the current debt-to-GDP ratio?

Description : If a country's debt-to-GDP is currently 25%and its debt is expected to grow from $16 trillion to $20 trillion in the next ten years, what will be the country's GDP have to be in 10 years to maintain the current debt-to-GDP ratio?

Last Answer : 80 trillion

What are some of my options when it comes to debt consolidation?

Description : What are some of my options when it comes to debt consolidation?

Last Answer : An acknowledge advising administration works for lenders to improve terms on your credit, including decreased loan fees and lower regularly scheduled installments. You make one regularly ... lenders actually should acknowledge recommendations made by the credit advising organization debt redemption.

Is there a free federal program that provides debt consolidation advice online?

Description : Is there a free federal program that provides debt consolidation advice online?

Last Answer : On the .Gov pages is a long list of place that handle free federal program that provides debt consolidation advice. All they need to know is your location and they can help up in your own state.

How do I find the best debt consolidation help?

Description : How do I find the best debt consolidation help?

Last Answer : You can find the best debt consolidation help at www.DebtHelp-America.com. Another good site is www.FreedomDebtRelief.com

What is the difference between debt negotiation and consolidation?

Description : What is the difference between debt negotiation and consolidation?

Last Answer : Debt Consolidation takes your debt and combines into one single loan, usually tied up in your house equity. Debt Negotiation on the other hand attempts to reduce the amount of debt you have by cutting the total amount you owe.

Does debt consolidation really work?

Description : Does debt consolidation really work?

Last Answer : Debt consolidation can be great for some people if you go through the right company. Do research before you decide on who to use.

How do debt consolidation services work?

Description : How do debt consolidation services work?

Last Answer : With a debt consolidation loan, a company fronts you the money to pay off your debt (or a portion of your debt), so then your monthly debt payments get streamlined into the one loan payment. Your debt consolidation loan ideally has a lower interest rate so you can save on interest as you pay it off.

How much do debt reduction and debt consolidation assistance companies charge for their services?

Description : How much do debt reduction and debt consolidation assistance companies charge for their services?

Last Answer : Debt consolidation and debt reduction companies generally charge a percentage of the debt reduction amount and may also include other fees. There are many different companies that offer these services and their charges and fees may vary.

Debt Consolidation Loans Make It Easier to Manage Debt?

Description : Debt Consolidation Loans Make It Easier to Manage Debt?

Last Answer : A debt consolidation loan is a loan taken out to repay several unsecured debts. There are many benefits of debt consolidation loans. The main benefit is that these loans make it easier for consumers to ... of interest you pay over the life of the loan and make it easier to eliminate your debt.

Debt Consolidation- Do It Yourself And Save!!?

Description : Debt Consolidation- Do It Yourself And Save!!?

Last Answer : If you have ever considered a debt consolidation company to handle your debt, then you may want to try doing it yourself. You can do most of the things that debt consolidation companies offer ... has occurred. Do this yourself instead of paying a consolidation company and save hundreds of dollars.

What are some debt consolidation tips?

Description : What are some debt consolidation tips?

Last Answer : Some debt consolidation tips include taking out a loan. This way you will only have to one payment.

Debt Consolidation Calculator?

Description : Debt Consolidation Calculator?

Last Answer : Debt is a ubiquitous problem in America today. According to the Federal Reserve, as of December 2010 total consumer debt stood at $2.4 trillion. This load is divided into revolving and non- ... the consumer their estimated monthly payment. The consumer inputs the amount of each credit card, mortg

Get The Debt Consolidation Company For You?

Description : Get The Debt Consolidation Company For You?

Last Answer : If you are thinking about consolidating your loans into one easy monthly payment, you should first shop around for the best debt consolidation companies. Search for debt consolidation companies online and do ... , compare the various plans offered by each company. Debt can be consolidated in a numbe

Using a Debt Consolidation Calculator?

Description : Using a Debt Consolidation Calculator?

Last Answer : When trying to get a handle on one's finances, one of the best things to do is consolidate one's debts. Consolidating debts can mean that a person pays lower interest rate fees. Using a debt ... having trouble using this sort of calculator. Overall, this is a great tool to use for managing finances.

Does anyone know a good organization for Payday Loan Consolidation?

Description : Does anyone know a good organization for Payday Loan Consolidation?

Last Answer : answer:First, you cannot rob Peter to pay Paul. payday loans are money-suckers. pardon my language, but you will get a better deal at a pawn shop. being behind on one payment makes it a penalty and you ... order to get caught-up in your payments. Scratch payday loans off your list. it's a no-no!

Where can I find information on student loan consolidation?

Description : Where can I find information on student loan consolidation?

Last Answer : During this period, borrowers who make payments separately from your federal loans to one or more lenders (loans are settled before a management entity loans) may be eligible ... information about Conventional Loans Consolidation Direct Loan Program, visit Loan Consolidation Direct Loan Program.

What exactly is it about these dresses that make them worth $20,000 each?

Description : What exactly is it about these dresses that make them worth $20,000 each?

Last Answer : Nothing objective. Only rarity.

What are the best hybrid cars for under $20,000?

Description : What are the best hybrid cars for under $20,000?

Last Answer : Hyundai is a really good company for hybrid cars. Hybrid cars are gaining popularity and there are more options in todays market. You can always find an older model or used car for under $20,000.

My ex wife owe over $20,000.00 in back taxes. Years owed 95,98,99, and 2000.I recently filed this missing years and now have a fairly accurate assessment of what we owe. Unable to pay without filing Chapter 7 or 13.Income is stretched to the limit. ?

Description : My ex wife owe over $20,000.00 in back taxes. Years owed 95,98,99, and 2000.I recently filed this missing years and now have a fairly accurate assessment of what we owe. Unable to pay without filing Chapter 7 or 13.Income is stretched to the limit. ?

Last Answer : If she is your ex-wife, you probably aren't liable for her back taxes. Usually, your legal separation agreement will stipulate that you are each responsible for your own taxes. If so, I would think you're off the hook for this.

The sales tax on a $20 hammer is 7 percent, or $1.40. Why is this tax a bigger burden for Josh, who has a $15,000 income, than for Aaron, who has a $150,000 income?

Description : The sales tax on a $20 hammer is 7 percent, or $1.40. Why is this tax a bigger burden for Josh, who has a $15,000 income, than for Aaron, who has a $150,000 income?

Last Answer : The tax represents a larger proportion of Josh’s income.

Baden Shoe Store has a beginning merchandise inventory of $30,000. During the period, purchases were $140,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed that $20,000 was still on hand. The cost of goods available for sale was a. $164,000. b. $156,000. c. $176,000. d. $184,000.

Description : Baden Shoe Store has a beginning merchandise inventory of $30,000. During the period, purchases were $140,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed ... for sale was a. $164,000. b. $156,000. c. $176,000. d. $184,000.

Last Answer : c. Purchases Returns and Allo

Companies can enter a Recruiting Spend budget up to an additional ____. a. $5,000 b. $7,500 c. $10,000 d. $20,000 e. $50,000

Description : Companies can enter a Recruiting Spend budget up to an additional ____. a. $5,000 b. $7,500 c. $10,000 d. $20,000 e. $50,000

Last Answer : a. $5,000

.If your current capacity is 10,000 units and your automation level is 5.0, what is the difference of the investment between doubling your capacity and doubling your automation level? a. $60,000 b. $20,000 c. $10,000 d. $520,000 e. $260,000

Description : .If your current capacity is 10,000 units and your automation level is 5.0, what is the difference of the investment between doubling your capacity and doubling your automation level? a. $60,000 b. $20,000 c. $10,000 d. $520,000 e. $260,000

Last Answer : a. $60,000

Marital finances/credit history question.

Description : Marital finances/credit history question.

Last Answer : No. The three credit bureaus in the US look at individual’s credit; not married couples an in individual entity. If a couple has a joint debt, like a home purchase; the debt shows up on each individual’s credit report.

How do you refinance mortgage w/ bad credit now after finances change do to lost of job 2 years ago. found knew job about 3 month after but pays less.Asked about modification w/mortgage company said they don't participate. ?

Description : How do you refinance mortgage w/ bad credit now after finances change do to lost of job 2 years ago. found knew job about 3 month after but pays less.Asked about modification w/mortgage company said they don't participate. ?

Last Answer : Just because your mortgage company say they don't refinance does not mean you should stop. Make a list of the places that do participate and apply there to see if you can get the help you need.

What is a credit counseling agency that can help me with finances?

Description : What is a credit counseling agency that can help me with finances?

Last Answer : Credit counseling can be found at many government agencies. Locally, your personal banker may be able to direct you to a reputable credit counselor or coach.

How do I get rid of my credit card debt?

Description : How do I get rid of my credit card debt?

Last Answer : I would talk it over with the credit card company. Maybe they can work something out. If desperate you can sell some stuff. Online or to a pawn shop. Try to at least pay the minimum balance owning every month.

Can you be arrested for credit card debt?

Description : Can you be arrested for credit card debt?

Last Answer : answer:You won't go to jail for it. You could be fined for not paying the bills on time. It will certainly affect your credit rating. I would contact the credit card company, they may allow you to ... now (which takes the funds directly out of my bank account). All I ever pay is a transaction fee.

Best way to wipe out credit card debt?

Description : Best way to wipe out credit card debt?

Last Answer : Wipe out the ones with the highest interest first.

I have credit card debt, and a 401k account from my last job that equals that debt, what are my options here?

Description : I have credit card debt, and a 401k account from my last job that equals that debt, what are my options here?

Last Answer : Are you sure about the $2k? I believe you lose more than that because you are looking at taxes + penalties for early withdrawal. I would try to negotiate with the credit cards to get a lower interest rate. Also, if you have any room, try to do a balance transfer (watch out for the transfer fee).

Roll-Down Your Credit Card Debt!?

Description : Roll-Down Your Credit Card Debt!?

Last Answer : Roll-Down Your Credit Card Debt!The Credit Card Roll-down Calculator applies two simple principles to paying off your credit card debt.Payoff your highest interest rate first.When a card balance is paid in full ... is paid in full. Click the "View Report" button for a detailed look at the results.

How to Get Honest Credit Card Debt Advice?

Description : How to Get Honest Credit Card Debt Advice?

Last Answer : Credit card debt is at an all time high and the US Census report states that every man, woman in child in our nation has an average of $8,000 in consumer debt. Credit card debt advice can ... will all tell you that negotiation is the best way to settle your accounts with various lenders for u

Where can I find free credit card debt advice online?

Description : Where can I find free credit card debt advice online?

Last Answer : You don't have to fight alone if you're worried about debt. Speaking with a qualified and experienced debt advice about your circumstances will assist you in determining the best course of action for you. For more information contact now : 03301226372

Credit Card Debt Collection Laws?

Description : Credit Card Debt Collection Laws?

Last Answer : Credit cards are unsecured debts; your creditor can't take away any of your property if you fail to pay the debt back in accordance with your card agreement. Your creditor can sell the debt to ... bankruptcy or if they receive a notice of a lawsuit against them by a creditor or collections agency.