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Help for Auto Loan Consolidation - The Bills.com Blog
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Help for Auto Loan Consolidation
Friday, Aug 31, 2007
Question: How do I consolidate my car payment bills, and student loans and credit cards. Is there are program that I can engage into?
Answer: Several types of debt consolidation loans are available, but which type is right for your situation depends on many factors. Below, I will discuss several possible solutions to your problem, which may help depending on your financial situation and how much money you can afford to allocate to your debts on a monthly basis. If you follow the links below, I can put you in contact with companies that may be able to assist you in resolving these debts.If you own a home, a secured debt consolidation loan may be right for you. This type of loan is essentially a home equity loan which is used to pay off your other creditors. Secured consolidation loans help many consumers by consolidating all of their debts into a single monthly payment with a lower interest rate and payment amount. With a secured consolidation loan, you should be able to pay off your car, your student loans, and any other outstanding debts you may have. However, be careful before you borrow money against your home to pay off credit cards and other unsecured debt; you will be converting what was previously unsecured debt into secured debt. This could cause you problems down the road if for some reason you are unable to make your payments, or if life circumstances force you to file bankruptcy, as you may not be able to discharge the secured debt as you would unsecured debt. However, secured debt consolidation loans work for many people, so
this is an option to consider carefully. Bills.com makes it easy to compare mortgage offers and different loan types. Please visit the loan page and find a loan that meets your needs.
If you do not own a home or other property to offer as collateral for a secured debt consolidation loan, you may want to consider an unsecured personal loan to consolidate your debts. However, you may have trouble finding an unsecured consolidation loan offering a lower interest rate than the rates you are currently paying, especially on your car and student loans. So make sure you carefully analyze the interest rates and terms of any consolidation loan before you commit to it–you may find that the consolidation loan will actually cost you more money than your current obligations. To read more about debt consolidation loans, I invite you to visit the Bills.com Debt Consolidation Loan Resources page.
You can start your search for lenders who can consolidate your debts by entering your contact information in the Bills.com Savings Center at the top of the page.
Other debt relief options are available, such as credit counseling and debt settlement, but these programs cannot generally help with secured debts such as your vehicle,
If you do not own a home or other property to offer as collateral for a secured debt consolidation loan, you may want to consider an unsecured personal loan to consolidate your debts. However, you may have trouble finding an unsecured consolidation loan offering a lower interest rate than the rates you are currently paying, especially on your car and student loans. So make sure you carefully analyze the interest rates and terms of any consolidation loan before you commit to it–you may find that the consolidation loan will actually cost you more money than your current obligations. To read more about debt consolidation loans, I invite you to visit the Bills.com Debt Consolidation Loan Resources page.
You can start your search for lenders who can consolidate your debts by entering your contact information in the Bills.com Savings Center at the top of the page.
Other debt relief options are available, such as credit counseling and debt settlement, but these programs cannot generally help with secured debts such as your vehicle,
or with student loans. However, a debt settlement or credit counseling program may help you by lowering your payments on your credit cards, allowing you to put more money toward your car and student loans each month. For example, you could consolidate your student loans, refinance your vehicle at a lower interest rate, then enter your credit card debt into a debt settlement program. If you chose this path, your debts would not be consolidated into a single obligation, but it could save you a lot of money overall in interest and monthly payments. You can read about consolidating your student loans. at Bills.com.
Another article about auto refinance loans could be beneficial for you to read. To learn more about credit counseling, debt settlement, and other options available to assist you with your unsecured debts, I encourage you to visit the Bills.com Debt Help page.
Depending on your financial circumstances, one of the several options I have described above may be able to help you. I encourage you to explore the Bills.com website to learn more about these and other options available to you. I hope this information helps you Find. Learn. Save.
Good Luck,
Bill
www.bills.com/blog/
Another article about auto refinance loans could be beneficial for you to read. To learn more about credit counseling, debt settlement, and other options available to assist you with your unsecured debts, I encourage you to visit the Bills.com Debt Help page.
Depending on your financial circumstances, one of the several options I have described above may be able to help you. I encourage you to explore the Bills.com website to learn more about these and other options available to you. I hope this information helps you Find. Learn. Save.
Good Luck,
Bill
www.bills.com/blog/
Also, make sure to get a free financial health check-up with Bills IQ!
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1. Posted by Richandra Blake on Thursday 26th March 2009 14:08
I am currently financing my auto through nuvell financial corp. at an interest rate of 20.57! Which means I pay $350.53 for my 2003 Pontiac Grand Prix. I have had the car for almsot 3 years and still owe about 9500 dollars on it. The payments are beginning to be unbearable I often find myself taking out several cash advances just to make ends meet. Is there anything reasonable that I can do to be done with this car payment!?!!
2. Posted by Bill on Thursday 26th March 2009 16:35
You will need to find a lender who will be willing to refinance that auto loan. You can approach your local bank or credit unions or visit www.capitalone.com and get pre-qualified for an auto loan. You can then use that money to pay off your current loan.