Jump to content


Welcome to CreditBoards!


Sign In 

Create Account
Welcome to CreditBoards! Like most online communities, you must register to post in our community, but don't worry - this is a simple process requiring minimal information for you to sign up. Be a part of CreditBoards by signing in or creating an account.
  • Start new topics and reply to others
  • Subscribe to topics to get email updates
  • Get your own profile page and make new friends
  • Send personal messages to other members.
 
Guest Message by DevFuse

Read These Items!

  • We're done with the posts turning political, guys.  
  • Starting immediately, any post that turns political will be immediately closed and the poster who interjected politics will be warned.  
  • ​It is our interpretation that deems it political.  We will not entertain discussion about your intentions.  
  • If you're getting an Authentication mismatch error: Clear your cache. Log out of CB. Delete your cookie. Close your browser. Open your browser and log back in.
  • Yo!  AOL email is bouncing and they aren't giving us a way to get off their blacklist.  If you're registered with an AOL email address and you have another one you can use in your settings, please change your email on record, so you can get the notifications you're expecting.


Photo

Will getting a Loan to pay off CC debt?


  • Please log in to reply
3 replies to this topic

#1 bad credit man

bad credit man
  • Members
  • 1,103 posts

Posted 07 May 2017 - 02:34 PM

Will getting a Loan to pay off cc debt will it stop me from getting mortgage?I have about 6 grand in cc debt. 20k in student loan debt that been deferment. I have no late payments on cc.


Edited by bad credit man, 07 May 2017 - 02:59 PM.




#2 LendMeYourEar

LendMeYourEar
  • Newbies
  • 1 posts

Posted 17 May 2017 - 09:32 PM

I think the important thing to remember here is that your eligibility for a mortgage is dependant on a number of factors, one of which is your credit history / score. Your credit score can be affected by your current debts, and in turn affect your ability to get a mortgage or personal loan (or, at the very least, the rate you get on that loan - outbound link denied I'm. You do mention, though, that you haven't missed any payments etc, so you're probably in a fairly good standing to get the loan for the CC. Whether this affects your future mortgage, however, comes down to how well you spend the loan, whether you're able to pay off those debts, and whether you keep up with the repayments on your loan.
 
Hopefully this clears things up a bit for you! :)  

Edited by MarvBear, 17 May 2017 - 10:03 PM.
Outbound link denied


#3 lpavelchak

lpavelchak
  • Members
  • 42 posts

Posted 30 May 2017 - 01:12 PM

I have that same question. Not sure previous poster answered it. I've got $7K in CC debt over 4 cards, all current never late, and a FAKO of 708. After a clean up a while back. I want a consolidation loan to get a better rate and a single payment. I too will be looking to buy a house before the end of the year and would like to know if I should go ahead and consolidate or hold off until after I'm in the home.



#4 bansu

bansu
  • Members
  • 3 posts

Posted 05 June 2017 - 08:35 PM

i have chosen to get two balance transfer cards with 0% for 12 mos and 15 mos and a personal line of credit, some four months ago and takeup any extra work i can specifically to pay this debt, whatever i collect in extra money is deposited in savings account until a cc balance can be paid in full.




0 user(s) are browsing this forum

0 members, 0 guests, 0 anonymous users





© Copyright 2003 - 2015 Creditboards.com. All rights reserved. No portion of this site may be reproduced without explicit permission from the owners. The content of creditboards.com is subject solely to the personal whim of its admins. We reserve the right, at our sole discretion, to remove any and all posts or comments, at any time, for any reason which takes our entirely capricious fancy, or for no particular reason whatsoever, without restriction. Comments or questions regarding the site may be addressed to admin@creditboards.com.