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I currently have 7 loans with 7 different finance

I currently have 7 loans with 7 different finance companies. They are secured debt is there any way to combine these debts into one payment? I don't have a life insurance policy or 401k to borrow from and I have terrible credit. I have had several medical problems, so I have missed a lot of work and have gotten behind. What do you recommend? Thank You

Asked on Fri, 08/12/2011 - 00:21
rj
3 Answers

As far as i know debt consolidation or debt settlement is not possible with secured debt. You can checkout the given page, I hope it will help you a lot to solve your problem:
“http://www.debtsettlementlawyers.com/resources/debt-settlement/secured-d...
 

Answered on Fri, 08/12/2011 - 11:40
sally.nachelle

Well, there's no way in which you can combine your secured loans. All you can do is to live on a shoe-string budget, stop making any kind of unnecessary expenses and save money rigorously. Apart from this, you can never get back on your secured loan payemnts. You're seriously in a grave situation, and make sure you take the required steps as soon as possible so that you don't have to face any unforeseen circumstances of falling back on your secured loan payments.

Answered on Fri, 08/12/2011 - 08:48
amy.nickson1986

As a general rule, you cannot do a debt management program with secured debt.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html
Answered on Fri, 08/12/2011 - 02:33
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