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Posted in Paying Your Bills
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Question By
HMH48

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How the heck do we get a loan to consolidate our debt with a 587CS?
Income is 150000 a yr why is it so hard to get a consolidation loan for 10000?

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Time for a Monthly Budget

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Well Heck, if you make 150,000 a year you should be able to pay off that 10,000 in like 10 months. you don't need a loan to consolidate you just need to manage your monies and get on a budget, cut some of your spending.

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Not really

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Income level means nothing.  If you make $30,000 per year and spend $15,000 you are exponentially better off than someone earning $150,000 and spending $150,000.

Just because he has high income doesnt mean he doesnt have significant financial obligations.

Most people out there spend close to everything they make regardless of how much it is.  But with a 587 credit score he would have to show that his disposable income is high to get a loan.  I do not have a good answer on how to obtain one if that is not the case.

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