my husband and I have approx. 75K in credit card d

my husband and I have approx. 75K in credit card debt. reason being, he lost his job for 1.5 yrs and we had to sell our home. We pay approx. $2,200 in minimums. Could we apply for a debt consolidation loan if we do not own a home? My husband does make a good salary, $325K?

4 Answers

I guess getting enrolled with a program that lowers your interest rate is a much better idea than applying for a loan. Just make sure that you read through the payment terms before you sign up. Remember, you'll again be obligated towards repaying your debt.


Yes, you can apply for an unsecured debt consolidation loan. The interest rate on this loan is very high. When you are applying for a debt consolidation loan, your creditors will check your credit report. If they find any negative items on your credit report, they may not give you the loan. You can also enroll in a debt consolidation program to minimize your interest rate. This program may help you to replace your monthly bills with a single monthly payment.


You can get an unsecured debt consolidation loan. The interest rate on an unsecured debt consolidation loan will be slightly higher than that of the secured one. If your husband has a decent credit, then securing an unsecured debt consolidation loan will not be a problem.


Though you don't own a home, you can definitely apply for debt consolidation in order to consolidate your debts and get rid of them. You should contact the local debt relief companies and check out the option of debt consolidation with them. To know all about debt consolidation program, check out the given page: http://www.debtconsolidationcare.com/program.html


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