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aaronbell59

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Debt Consolidation/high debt to income ratio with excellent credit and all accounts are current.
What is the best way to pay off debt if you can't get consolidation loans because of high debt to income ratio.

My wife and I have excellent credit (mid 700) never missed a payment but no one will approve us for the 0% loans because of our high debt to income. I don't understand why banks and CC companies don't understand that we would be better capable of paying our monthly payments if the interest rate(s) were lower. We are currently trying to open 0% interest CC's and doing balance transfers to get the lower rates. Is there a better way? Is there a way to get the consolidation loans with a reasonable interest rate that has a set payoff date?

Any advise would be appreciated. Thanks. Aaron

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I was curious if you ever found a solve because I'm encountering the same issue. So frustrating!

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Have you looked into tapping into your homes equity? I just went with a fixed rate instalment loan from PNC for consolidation.  It is not 0% but lower than the cards.

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