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Is it possible to get a debt consolidation loan based on salary?

04.30.2011 · Posted in Debt Consolidation

I have a significant amount of debt that I need to eliminate. The real problem I have is the high interest rates. I make around 50K a year but my credit isn’t very good because I have so much debt.  If I could get a one-year loan for about 10-15K I could eliminate all of my debt in one year and keep my current lifestyle. So my question is, do any financial institutions offer a one year loan that is only based on my income? I would consider direct deposit with the payment withdrawn automatically each month if that would help me get the loan. If these conditions are not possible, are there any other options available for me? I’m totally open for any suggestions.

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    Comments
    • Chapter 13 Bankruptcy January 10, 2012 at 4:51 am

      If you need legal advice to solve this problem,Busby & Associates is a legal services provider for bankruptcy as well as divorce cases etc. amongst others. Therefore, hiring expert and qualified Bunker Hill bankruptcy attorneys, will not only save a lot of time on legal proceedings, but also prove to be cost saving. Thanks!

    • Beth P. February 20, 2012 at 3:23 pm

      I would just research it and look at the fine print. There are alot of different loan services online now that offer loans based on your income where bad credit is accepted. My advice is to compare and find the one that best matches your needs. Good luck!

    • abercrombie paris February 27, 2012 at 3:53 am

      Je voudrais juste qu’il recherche et de regarder les petits caractères. Il ya beaucoup de différents services de prêts en ligne, maintenant que proposent des prêts en fonction de votre revenu où un mauvais crédit est accepté. Mon conseil est de comparer et de trouver celui qui correspond le mieux à vos besoins. Bonne chance!

    • Jon Smith from accountants London February 28, 2012 at 9:33 am

      The only answer I can give is — perhaps. As Beth P says, you should simply shop around for a loan service that is tailored specifically for people like you. There will almost certainly be at least one. Best of luck.

      Uh, abercrombie, that’s just what Beth said translated very literally French. Wut.

    • Allen from How Much Do I Make A Year? April 7, 2012 at 4:38 pm

      I highly agree that eliminating your debt is something to strive for immediately as possible. Taking out more credit seems like a risky way to do so… But do what you need to do to live a credit-free lifestyle: it’s worth it!
      Allen@How Much Do I Make A Year?´s last [type] ..How do you calculate what you make a year?

    • Peter from JBI May 10, 2012 at 4:55 am

      This isn’t advice or anything, but I’ve often found that when I’ve been denied credit, there was a good reason for that, and I would’ve been better off not trying to get around my bad credit rating.

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