Consolidating Debt

[Tjoker]

Good day,

Where can I find more information regarding consolidating debt. I have credit with ranging interest rates, due to circumstances and a divorce with poor emotional decisions at the time. I am looking to consolidate it all with an acceptable interest rate. Some of these institutions are CRAZY!

Any suggestions on where to start?

 

[hellfire]

Good day,

Where can I find more information regarding consolidating debt. I have credit with ranging interest rates, due to circumstances and a divorce with poor emotional decisions at the time. I am looking to consolidate it all with an acceptable interest rate. Some of these institutions are CRAZY!

Any suggestions on where to start?

Start with your primary bank.
They may be able to give you a single credit offering that you can use to settle all your other unsecured debt.
You still won't like the interest rate, as the rate risk rated and it's unsecured (so no assets to attach if you default).
You will at least save on the multiple service fees and credit life insurance fees that you're paying on various loans.

There are other options like debt review, but that comes with knock on ramifications so don't do it unless you're currently unable to service your debt.

 

[Asgard85]

Sorry to hear about your difficult divorce.

If I'm not mistaken some of the banks offer a loan product specifically for this, but I would imagine would depend on the usual criteria around your credit score, affordability etc.

Maybe try your bank and some of the other big ones?

 

[Tjoker]

Thanks for the feedback guys. I started the process this morning in contacting my own bank to see what can be done, but also let them know I will listen to other banks as well. Whomever wants my business

My sole goal is to settle this ASAP.

 

[goody2]

Just make sure you dont incur additional debt, else you will sit with the same problem again a year from now.