Whаt amount οf debt qualifies fοr consolidation ? Alѕο аѕ stated, whаt іf уου hаνе nο home οr assets?
Debt Counseling and Consolidating Debts Unsecured, Credit Card, Secured
Whаt amount οf debt qualifies fοr consolidation ? Alѕο аѕ stated, whаt іf уου hаνе nο home οr assets?
You dont have to own anything for a debt consolidation. Also any debt qualifies.
You don’t need assets for a debt consolidation if it’d done as an unsecured loan.
If you’re referring to a consumer credit counceling place, they usually require $5,000 in debt – but check around because some may be different.
Now, if you’re just talking about doing a debt consolidation with a lender (bank, credit union, etc) to lets say payoff credit card debt or whatever they may just do a balance transfer if your credit is good. Do keep in mind though that unsecured debt is a very high risk loan to the lender so you may not find it very easy to get qualified but it’s worth a shot.
Debt Consolidation is more for people with credit card debt and has noting to do with collateral. You already have the loan without collateral so why would you offer the something?