Desperately Need a Loan? Consolidation Loans May Be Your Answer

By Alan Schneidermen

If you desperately need a loan, chances are you have bad credit as well and are looking just about everywhere for some help and advice. Even if you have a great job and make good money, sometimes you could get hit in the stomach with a huge unexpected expense and have to put it on one of your high interest rate cards to get through the financial emergency. So often we as consumers turn not only to one credit card but sometimes several of them to bounce from one bill to the next, spiraling deeper and deeper into debt. And if you are searching for answers, then I would suggest that you consolidate all of them and have one payment and one lower interest rate. Here's how.

In this article, I am going to explore only two of the options that might make a good choice for you to consolidate your loans. There are many, but these are the two that have been useful and just make sense to me.

First of all, consider getting another credit card. I know what you are thinking; this will just put you deeper in debt and continue the cycle of high interest rates and high monthly payment. But this time, you will be getting one card, transferring your balance to the new one and cutting up the old ones. Yep, it's a life changing decision for most people.

Now how do you get a credit card with a lower interest rate than you currently have?

Well, you don't need to wait around for an application to come in the mail. Typically the interest rates are terrible and they can be from less than reputable companies. Here is what you do. Simply call the credit card company where you have the smallest balance, highest interest rate or just your favorite one. Tell them that you want to consolidate all of your balances and ask for a good deal in exchange for your business. Negotiate with them and you just may get a good deal and possibly even get a zero percent interest rate for as long as 18 months just for transferring your outstanding balances to their company. If you are not happy with the terms, just move on to the next company and negotiate with them. You will be surprised and they may compete with each other for your business.

Here is another method for consolidating your credit cards and other outstanding debt.

Have you ever heard of peer to peer lending? Basically this is an age old form of borrowing money from individuals that has entered the information age and the 21st century. In a nut-shell, you are given access to a pool of individual investors that are willing to lend you money at competitive interest rates. The term of the loan can be for a few years, at a decent interest rate, and this will allow you to pay your credit card debt back very quickly instead of just paying the minimums each month.

Credit cards debt can consume your life and take over your day to day thoughts and activities. Many people have no idea how to consolidate their loans, lower their interest rates and cut their payments in half. Or they may just be too lazy to take action. But if you deperatley need a loan and are willing to get your finances in order, then you have taken the first step that many people never get around to doing. Even if you don't need to consolidate your loans, but you need to put a little extra cash in your pocket for any financial emergency, visit http://needaloantoday.com/ and discover for yourself how to get money quickly and easily. But make sure that you understand all of the loan terms before you make your decision. Fast money can be very expensive, in the form of high interest rates and fees, and the decision to borrow money under these terms should not be made lightly.

Desperately Need a Loan? Consolidation Loans May Be Your Answer