Comments on: The Consequences of a Debt Consolidation Loan http://californialoanfind.com/the-consequences-of-a-debt-consolidation-loan/ ONLINE LOAN FINDER - PERSONAL LOANS - GOOD AND BAD CREDIT BORROWERS Mon, 06 Feb 2012 01:52:59 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: David http://californialoanfind.com/the-consequences-of-a-debt-consolidation-loan/comment-page-1/#comment-3408 David Thu, 17 Mar 2011 21:03:20 +0000 http://californialoanfind.com/?p=292#comment-3408 My mother is 70 years old and has about 49,000 in credit card debt. Her credit score is over 700 (debt weighs score down), pays all her bills on time and receives a fixed retirement income. Her monthly payments on those credit cards is about $1750. She pays $800 in rent and the rest is for utilities and food. We are looking for a monthly payment of $550. If she consolidates $50k at 5% for 10 years, that would get her to that point. Of course, she could then afford to make significantly more than the minimum payment and pay the loan off much sooner than 10 years. we estimate about 5 years with an aggressive approach that gives her the option of a minimum payment and no prepayment penalties. If I had the money, I would do it for her. I hate to see her slugging along mired in debt with little cash left over for anything else and barely servicing the interest on the loan. My dad passed and left his retirement to her. But, he was a good hard-working man and I hate to see what he saved going to pay interest when it was meant to provide security in retirement. I told her that we will find an alternative so I found this site in my search. Her payment record is stellar and would offer a lender a low-risk 5% return on his/her money. Please email me if there anyone who would like more information. Thank you for your time and consideration. David My mother is 70 years old and has about 49,000 in credit card debt. Her credit score is over 700 (debt weighs score down), pays all her bills on time and receives a fixed retirement income. Her monthly payments on those credit cards is about $1750. She pays $800 in rent and the rest is for utilities and food. We are looking for a monthly payment of $550. If she consolidates $50k at 5% for 10 years, that would get her to that point. Of course, she could then afford to make significantly more than the minimum payment and pay the loan off much sooner than 10 years. we estimate about 5 years with an aggressive approach that gives her the option of a minimum payment and no prepayment penalties. If I had the money, I would do it for her. I hate to see her slugging along mired in debt with little cash left over for anything else and barely servicing the interest on the loan. My dad passed and left his retirement to her. But, he was a good hard-working man and I hate to see what he saved going to pay interest when it was meant to provide security in retirement. I told her that we will find an alternative so I found this site in my search. Her payment record is stellar and would offer a lender a low-risk 5% return on his/her money. Please email me if there anyone who would like more information. Thank you for your time and consideration.

David

]]> By: Debt Consolidation Loan Consequences http://californialoanfind.com/the-consequences-of-a-debt-consolidation-loan/comment-page-1/#comment-1265 Debt Consolidation Loan Consequences Mon, 16 Feb 2009 22:33:58 +0000 http://californialoanfind.com/?p=292#comment-1265 [...] Debt Consolidation Loan  What are the consequences of a debt consolidation loan? This is a question many of our readers/borrowers ask. The short answer is very little negative and all positive. Why? Because it shows you are taking positive action to clean up . [...] [...] Debt Consolidation Loan  What are the consequences of a debt consolidation loan? This is a question many of our readers/borrowers ask. The short answer is very little negative and all positive. Why? Because it shows you are taking positive action to clean up . [...]

]]> By: CLFadmin http://californialoanfind.com/the-consequences-of-a-debt-consolidation-loan/comment-page-1/#comment-179 CLFadmin Wed, 14 Jan 2009 18:30:45 +0000 http://californialoanfind.com/?p=292#comment-179 Thank you Mia. We are trying make sure that people get some honest help with their personal finance choices. It's so sad to see the millions of people losing their jobs this past years. Don't want to blame ANYONE - it's just hard times. Thank you Mia. We are trying make sure that people get some honest help with their personal finance choices.

It’s so sad to see the millions of people losing their jobs this past years. Don’t want to blame ANYONE – it’s just hard times.

]]> By: Mia jacob http://californialoanfind.com/the-consequences-of-a-debt-consolidation-loan/comment-page-1/#comment-113 Mia jacob Tue, 06 Jan 2009 13:28:40 +0000 http://californialoanfind.com/?p=292#comment-113 One of the best written blogs on debt consolidation loan that i have come across recently. It can be quite overwhelming to choose from all the different online financial advisers available. I definitely had a tough time. It's nice that sites like Bills.com offer the articles and information to educate yourself about debt consolidation. One of the best written blogs on debt consolidation loan that i have come across recently. It can be quite overwhelming to choose from all the different online financial advisers available. I definitely had a tough time. It’s nice that sites like Bills.com offer the articles and information to educate yourself about debt consolidation.

]]> By: Jules Ford http://californialoanfind.com/the-consequences-of-a-debt-consolidation-loan/comment-page-1/#comment-92 Jules Ford Sun, 04 Jan 2009 18:54:48 +0000 http://californialoanfind.com/?p=292#comment-92 Great to see you writing again Carol. You are looking fantastic too! I've read elsewhere that when you apply for a CCCS loan or any kind of structured settlement, it can be bad for your credit rating because it shows a record of your obvious money problems. I agree with you here that it should be reported as a good thing with the credit reporting agencies because you are finally getting your act together. Great to see you writing again Carol. You are looking fantastic too!

I’ve read elsewhere that when you apply for a CCCS loan or any kind of structured settlement, it can be bad for your credit rating because it shows a record of your obvious money problems.

I agree with you here that it should be reported as a good thing with the credit reporting agencies because you are finally getting your act together.

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