Debt Consolidation 101 For the Non Home Owner

Debt consolidation loan for non home owners are possible to receive, given the right circumstances.  Here are some things you might want to consider.

Contact Your Creditors to Work Out a Repayment Plan

Before you try anything else, get in touch with your creditors to try to work out a reduced payment or repayment plan on your own. This costs you nothing and can give you great peace of mind.

Contact a Reputable Credit Counseling Agency

If you have debt that has become insurmountable, you don't own a home you can leverage for equity, and you've already tried on your own to work it out with your creditors, there is still help available. Contact a reputable credit counseling agency before you attempt a debt consolidation loan for non home owner. Two reputable agencies are the National Foundation for Credit Counseling and the Association of Independent Consumer Credit Counseling Agencies. Counselors will look at your financial situation and make recommendations - at no cost to you. You should come away with short-term goals and a bare-bones budget sufficient to handle your essential expenses.  You may also consider enrolling in a debt management plan.

Debt Consolidation Loan for the Non-Home Owner

Working with a reputable credit counseling agency, you may  be able to obtain a debt consolidation loan even though you don't own a home.  Lenders who see evidence of a sound budget and planning may be more willing to extend you credit on an unsecured basis to enable you to pay off your bills.  They want to know they'll get their money back, and the services of reputable credit counseling agencies can help provide that.

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