Consolidation Loans

A Consolidation Loan is a new loan that combines all your other loans or outstanding credit agreements, into one new loan.

Consolidation loans help people bring together all their unsecured personal debts into one new monthly repayment instead of several. The interest rates for a debt consolidation loan can often seem very pleasing when compared to the cost of your current obligations. You should be careful when consolidating other debts into one new debt consolidation loan; this is because if you fail to pay the loan any collateral could very well be seized.

Credit Debt USA provides a program in the form of debt consolidation but without a loan. You may have been declined a consolidation loan due to late or missed payments, or simply because your debt-to-income ratio exceeds 40% which makes you a high risk lender.

The majority of our clients were refused consolidation loans due to bad credit, and weren't sure why their credit score was so horrific, until they called us. Our experienced advisor's help people find alternative solutions to consolidation loans. We can help consumers achieve debt solution for accounts in collections, maxed out, or behind for both personal and business debt.

Many consumers believe a debt consolidation loan is the solution to their financial troubles, but it is not a magic remedy that cures financial problems overnight. Financial recuperation is long, hard and tiresome that is unless you let the experts at Credit Debt USA represent your debt and close your accounts.

Debt consolidation loans gained their earmark over the years through marketing, and name branding as the one size fits all solution to debt. However, consolidation loans are usually only extended to those with near perfect credit, and a DTI (debt-to-income ratio) that doesn't exceed 40%. In plain text, if you make 10k per month but your bills exceed 6k you're considered a high risk.

Why didn’t I get approved for a consolidation loan?

From a common sense point of view, which lender is going to give you a loan for debts you can't afford as it stands now? If you're having trouble getting approved for a $500.00 credit line, most lenders are not willing to extend a loan to pay off your thousands of dollars worth of debt, unless of course you have equity in your home which is highly unlikely with the current real estate market value.

If you are approved for a consolidation loan, would you really like the unsettling thought of losing your home over what was once unsecured debt (unsecured meaning no collateral involvement, collateral meaning a possession such as your home)?