mortgage-calc-review.com

Question by kelly g: i am searching for a personal loan or a credit card but i have a high debt to income ratio.?
Does anyone know of a loan company or a credit card company that specializes in that kind of loan. My credit score is about 680. I make about 70000 a year but my check only shows about 30000 so i need a company that doesnt check income or understands that i am on i tip compliance with the irs.

Best answer:

Answer by fishlakeguy
As far as a reputable lender is concerned, you make whatever you can verify. A non-reputable lender will generally get you into trouble, financially and legally.

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by eric731

Question by DEBT: Which is a better route? A “debt- consolidation loan” or a “personal” loan to pay off credit card bills?
How does either loan affect credit scores etc…?Which one tends to get the better interest rate? Any reccomendations on what financial institution to go through? How much money do you need to make to take out approx. 10k? Any other info you can provide would help out a lot!

Best answer:

Answer by michelle1984
Personal loan. Debt consolidation ruins your credit

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by eric731

Question by Rubberband Man: can a debt collector seize $ / assests from my LLC for a personal credit card debt not connected to the LLC ?
i have some credit card debt probably 3-4 cards to the tune of about $ 5,000. that was prior to my forming my self employed service business into an LLC (ohio), and this debt has no connection to the LLC (single member) and if i am not able to settle or othewise make payments its likely they will go to court and get a judgement. SO…. what then? can they with such a judgement seize personal property? such as a motorcycle ( $ 4,000.) or attach a lein on my house? Can i open an LLC for just me as a person? to be alble to continue living ( paying bills) or will i have to use “undercover” services to pay my bills? My LLC will be paying me…. do i ihave to live and pay with cash forever? I want to pay or settle wilth them but if i can not i have decided to keep my house (by paying on IT) VS lose my credit / credit cards by NOT paying on them

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Question by CLVSJ: Is it a smart thing to get a personal laon to pay off your credit card debt?

Best answer:

Answer by wizjp
If it’s a lower fixed interest rate and you DESTROY the card, yes.

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Question by Mr. Incredible: Which is better to consolidate credit card debt a personal loan or move the debt to anther credit card?
I have approx. 15000$ in credit card debt on two different cards. I notice each month on one of those cards im paying about 120$ in interest alone while carrying a 9000$ balance. Would it be better to take a personal loan from a credit union at 14% or move the debt to another credit line at 8.35% which can change by quarter. Im looking at a 48 month pay back plan. Both cards are at approx 14% interest already.

Best answer:

Answer by CatDad
If you take out the credit union loan to where all cards are paid off, you’ll have all that newly available credit on the cards, and it will probably be too tempting to use the cards again…so you’d probably wind up with twice as much debt as when you started. Actually, many credit unions will only give such loans if you cut up your cards and close your accounts.
- Moving debt around really does not solve a lot of problems. However, if you could move this debt to the lower rate and totally commit yourself to stop using credit, then this would probably be the best move.
- A drastic move would be to enter into a debt management program though NFCC. They could lower the rate to around 10% for all cards. You’d have cut up your cards and stop using all credit. This would force you to stop using credit, which may be what you really need. http://www.nfcc.org

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by Michigan Municipal League (MML)

Question by Andrew H: If I have a balance on a card of ,000, 9.99% APR, would it look better to get a debt consolidation loan?
I want my credit to still stay above average, but I cant afford to pay $ 1,000 monthly payments to get rid of the balance fast, should I get a personal debt consolidation loan for 36 months instead?

Best answer:

Answer by Lauren F
If you want to get rid of this fast, then taking a 36 month loan doesn’t make sense, even if you could get a lower interest rate. That long length of time will cost you a lot in interest.

I would look for a 0% balance transfer card (see the website www.fivecentnickel.com for suggestions) and transfer it to 0% card, preferably for 12 months. Then, if you pay $ 700 a month for the 12 months, it will all be paid off and you will not owe any interest. Research this plan carefully though. It only works if you make the payment every month on time. If you miss even by one day, the cc company will jack your interest rate up to a horrible amount.

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Question by Broke: Does credit card debt through a s-corp credit card impact your personal credit rating? What about bankruptcy?

Best answer:

Answer by Rainy
yes and yes . . my husband has an s corp and when we first got married my credit score dropped cause I married his poor credit score. . now our credit score after 25 years in business is very high cause he pays his corp bills on time. .

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by marsmet461

Question by Mike L: Is it smart to use a credit card company’s personal loan offer of 6.99% to pay off credit card debt?

Best answer:

Answer by Chloe
Smart and credit card loan offer do not ever make sense.
If you’re looking to pay of credit card debt, I’d look into getting a signature loan at a bank.

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Question by Eva: How do I know if a small business credit card is my personal debt?
I signed up for this credit card that we used in our corporation (= small business that my husband owns with 1 employee). At time of aplying for the cc I gave my ssn, and all info about me, and stated I was in the position of secretary in the corporation. When I had my own credit report ran in the past, this credit card never showed up. Now when the business is not doing well even though we are trying the hardest ever, what if we can’t make payments anymore on that card (balance is about $ 50,000). I’m I responsible the same way if it was a personal credit card? It was only used for business like buying inventory and so.

Best answer:

Answer by zeuz
I hate to be the bearer of bad news, but I believe corporate cards are the joint and severable liabilities of both the corporation and the individual employees.

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Question by evon.: What’s the best way to get out of credit card debt?
Personal loan, debt consalodation, Line of credit?
We are currently researching these and applying and would like to hear your personal experience/knowledge.

Thank you in advance!
We started a small business and now would like to pay it all off at once with lower intrist.
Our credit is outstanding.

We only got them for our business.

Best answer:

Answer by thehouseofrepresentatives
Start living below your means. It’s tough, but if you can do it you’ll be better for it.

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