I have about 3 new finance company loans ( I know I'm stupid-just trying to provide for family) %26amp; I was wondering if I can consolidate so soon after opening them.
Can I consolidate a fairly new finance company loan?
If you can get someone to loan you enough to pay off the existing loans, there is no minimum time to CONsolidate. Note I emphasized the CON in CONsolidation. most people that CONsolidate debt continue to overspend. In a few years they replace the original debt PLUS they have the CONsolidation loan. If you actually adjust your life to pay down your debt, CONsolidation is not necessary.
Reply:Of course you can consolidate them! but you are asking for a very high interest charge.... Leave them alone and pay them off on time.. A good way to get a good rating. If you consolidate the only thing that will do is 1. You will have one payment 2. You will pay another PLUS amount in iterest... Maybe you should take a lesson in economics. In order to serve your family best do this: DISCONTINUE BUYING THE THINGS YOU WANT... ONLY PURCHASE THE THINGS YOU REALLY NEED and begin saving some money each month in a savings acct (which you never touch unless it is a dire emergency) control your purchases and if you have not one begin using a budget..
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