Do I Need Assets To Qualify For Debt
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Disclaimer: While we have done our best trying to give you all
information you need in order to consolidate your debt the right way,
it is highly suggested you get seasoned advise coming from debt
consolidation and debt settlement specialists, this is the safest way
to get your finance back in order, plus in the shortest period of
Do I Need Assets To Qualify For Debt Consolidation?
If you are suffering through high interest rates on credit cards or loans and you are
struggling to make even the minimum payment, it may be time to look into debt
consolidation. There are some common misconceptions about this type of service
and what it actually does for someone falling behind for whatever reason or
misfortune has happened to them.
Once very common question regarding this type of assistance is the question of
personal assets and how they relate to debt consolidation. The short answer is that
they don't at all. When someone calls a company for this type of service, they are
asked about jobs, how much money is coming into the household and how much is
going out. The type of assets and how much they are worth is not something that
comes into play.
Simply put, in order to qualify for this service you will be asked some questions to
determine if you are able to meet the payment requirements of a debt consolidation
program. If the income coming into the house is less than the bills going out, even
with the reduced payments from the program, you will have to find a way to get
more money coming in. If you are unable to make the combined lower payment,
the program will not work.
This is, generally speaking, the main requirement for any debt consolidation
program. Everyone struggles at some point in their lives and these companies are
there to help hard working