Debt Consolidation for small business owner without financials?

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Debt Consolidation for small business owner without financials?

Postby wolsy » Tue Feb 23, 2010 8:16 am

My partner and I have credit card debts and personal loan debts of around $40,000... We would like to consolidate these debts into one sinple pay option. We dont any estate property to borrow aganist and we also cant provide any tax returns... So we are looking for a low doc or no doc loan to help us... Can anyone please provide us with any information? Its not that we are struggling to pay off these debts but it would be nice to save a bit on interest...


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wolsy

 
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Debt Consolidation for small business owner without financials?

Postby Tubbyscrapmetal » Tue Feb 23, 2010 8:30 am

Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loan allows you to condense your monthly<!--payments into a single, simple bill, while lowering your interest rates and helping you pay down your debts more quickly and easily. It is also an essential tool in avoiding the much more serious step of declaring bankruptcy.

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Unlike bankruptcy, in which debts are cancelled and your credit rating collapses completely, debt consolidation loans are essentially a type of refinancing, where several-->old loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so you?ll no longer have to deal with harassing phone calls and daily mail.

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Debt Consolidation for small business owner without financials?

Postby sb » Tue Feb 23, 2010 8:44 am

low doc loans and no doc loans are for real estate backed loans only.

the debts your're consolidating are unsecured consumer debts - you need to provide financials and tax returns.

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Debt Consolidation for small business owner without financials?

Postby webworks » Tue Feb 23, 2010 8:58 am

Have you looked into SBA Loans?

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Debt Consolidation for small business owner without financials?

Postby Jyoti » Tue Feb 23, 2010 9:12 am

You can consolidate your debts with debt consolidation program . Debt consolidation comes in many forms:
- Debt Consolidation Loan
- Debt Settlement Program
- Debt Management Plan
- Debt Relief, Reduction and Elimination Program
- Credit Counseling Service
- Loan Consolidation

The debt counselor would suggest you the best according to your situation and then you have to choose the one that suits you.

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Re: Debt Consolidation for small business owner without fina

Postby christy » Fri Mar 26, 2010 2:44 am

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