Getting Out Of Debt Homepage

Question: Debt consolidation loan?

(Posted by: MamaB25 on 2009-09-24 10:53:59)

Can a debt consolidation loan still be used for debt that has already gone to Collections?

Posted by: Michael T on 2009-09-24, 12:17:06

Debt consolidation loans are pretty much a thing of the past unless you have good credit. If you have debits in collection, it is unlikely that you could get a debt consolidation loan. However, if you could get such a loan, it would be up to the lender as to what bills would be consolidated unless it is given as a personal loan.

Posted by: Anna K. P on 2009-09-28, 07:56:54

You might want to check with consolidator for this. But usually they will charge way more than what you can handle over the period of time. That how they make money on the side...Also here is some tips to handle your debt yourself, hope this helps...