Question Hi, I have a couple of debts I'd like to pay off. One is a credit
card judgement which is already garnishing my wages, and the
other is an IRS debt that I'm about to start a payment plan for.
As the garnishment amount is pretty darn aggressive (seemingly
personal even) this already dealing a serious blow to my
finances, so paying off the IRS at the same time is going to be
crippling. I'd love to be able to get a consolidation loan, but
most of what I'm finding is that I need to own a home for that (I
don't). The combined debt is $13,124 - about 60/40 between
the two. I have 2 open credit cards that I use regularly, but the
both have pretty small limits: a) $1025, b) $500. The main
problem is that I let myself be scared into signing a post
judgememt agreement on the credit card debt and now the have
me by the throat. I just want to pay them off and get them out of
my life, bank account and paycheck. Please help!
Answer Bad situation, and tought to overcome. Your right most places want you to own a home, or at least use a car as collateral. If you do own a car outright with a value of 13+ thousand consider using it. Another option is a "deposit secured loan" for that you would need to have someone you know with a certificate of deposit or bank account of 13+ thousand. That can be used as collateral. Your other option is to try and find a co-signer with good credit. You may also want to try lendingtree.com, that way several banks can look at your situation at the same time. You still may not get a loan but it will at least save you some time.
I hope this helps
