I have a good credit history but I need a debt consolidation loan. Where do I go??

My debt to income is high because I have used my personal credit to help my business. I tried applying for credit cards to transfer balances but no one will help me. any recommendations??

You need to get a home equity loan.....if you own your own home.

You can visit http://www.cashguru.info and find very useful tips and several articles on debt consolidation. Report It

First:

Talk with a broker, a broker underwrites for many company's (I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a "hard" pull and it drags down your credit score.

All is not HOPELESS - ok - take a deep breath. If your credit score is 500 or higher, anything is workable.


Lenders look at the middle score...of the 3 scores. If you only have 1 score or 2 scores (have seen it), it is still workable....but unless a lender sees the whole picture - credit - income - job time, etc - than you will not have a "true" picture of what you can afford - Hope this helps - There are also Government programs out there, but they too are looking for job time, etc.....They are not so much looking a credit - but the other factors are taken into consideration. With a government loan - collections and judgements will have to be paid (most ppl do not know that) but for FHA it is true.

Decided on the type of program (loan ) you are wanting. A 30 yr fix is still roughly at a 6.5 rate right now - but if you are needing a 90 percent ltv the rate is around 7 percent and a 95 ltv is 7.375 and a 100 percent rate is 7.5 ( This is a estimate only, since I do not know what your credit score's are....There are also, interest only loans - adjustable loans, option arms (where you pick the payment, from 4 payments, including interest only). Interest only are lower payments, but nothing is being paid on your home. Some self-employed ppl like the payment options, in a lean month when money is tight., they can pay a lesser amount.

Good Luck to you - A Broker, who cares, will go over it all with you and be in contact with you daily. The one on one customer service is important, to you, the client, to let you know the whole loan process

check into cash

Plain and simple if you have any mortgage lates you will have a higher interest rate for a HELOC( Home Equity Line of Credit) . If you live in California call 925 287 9606 ext 171 and ask for Brent he can help with getting into a refi or a heloc that would help with your credit card shuffling.

Give Me a call and maybe I could help you.
if you live in md, dc, va , pa, or de..

1800-261-4004 ext 2363

Try a local community bank or a credit union, not one of those huge banks. You need someone to look at your situation as a unique situation and provide you with personalized service; you don't want a computer to make all the decisions, which is what those huge banks do.