where can someone borrow 50,000 to consolidate debt, and have a monthly payment plan to pay back tha
find a bank or a loan shark, there's little difference, he'll loan you the money and charge you excessive interest rate.
You need to have a valid reason for consolidating your debt. That reason can only be to establish a lower APR. (annual percentage rate) Getting a loan of $50K at an interest rate of 7% for 15 years fixed interest would mean your monthly payment would be $449.41.
Add up the payments for the loans you are wanting to consolidate. Is the total more or less than the $450 a month total? Check what the APR is for each of the loans. If any are credit cards, the APR is obscene, no doubt, 21-24%. So it would make sense to consolidate so that you can get a lower APR.
If you have a really crummy credit report, a bank will not easily grant you a loan. If they do, they will up the interest rate to 9% or more. But compared to 21%, that's still better.
Do not go to a financial aid company. They will charge high interest. If your bank won't give you a loan, try other banks or credit unions. The key is to find a company who will give you the best interest rate on your loan. Good Luck. If you have questions, let me know.
by betnel 7 years ago
If I loan 14,000 dollars and make a monthly payment of 150 dollars at 10 percent interest rate ..what is my balance at the end of 59 months
by cknlgs2950 7 years ago
I owe $408,000.00 on a 6% interest only mortgage. My monthly payments are $2125.00 per month. ...If I pay the loan down to $143,999.00, what would my monthly payments be?
by wordsscriber 7 years ago
How Debt Consolidations Loans Work?
by tdebrick 6 years ago
Would a personal loan improve my credit?Thinking of consilidating my credit card debt into one loan. I am thinking this is the best for me paying my debt down.
by ElleBee 6 years ago
What are your tips for getting out of debt as quickly as possible?
by Shepherd's Lamb 2 years ago
I just want to discuss what's going on in my little head right now and hope to hear from those of you more educated on the subject.I qualified to buy a condo in 2004 (six years ago). I paid $6,000 cash for closing. Two years later I refinanced to get into a fixed interest rate of 5.5%...
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