My wife and I have been discussing applying for a DC loan. Amongst medical bills and credit cards bills we have about $45k in debt. I was thinking about not including the smaller CC debts (under $1.5k) and just paying those off separate so that means we would like to apply for a $38k loan. We both have an average credit life of 3 years and last time I checked my score was around 600 with hers around 630. 100% on time payments. Combined we make about $58k/annually. Do you think we would qualify? My credit score is low just because of how much debt I am carrying and I really don't want to F it up with late payments or more inquiries...but we just want to roll everything into one payment. And any extra put it towards the loan. I feel like this is a never-ending spiral. I have saved about $1k in the last 4 months and have decided to stop putting $150 of every paycheck to my savings and just put it towards my lower balance cards.
My wife and I have stopped eating out, have not made any unnecessary purchases in the last 4 months and are committed to become debt free. I guess the good thing is were only 21 so we should be able to pay this all of within a decade.
Any banks or loan companies you recommend that would work with us? Any other tips?
Any advice is appreciated!!!
Edit: Forgot to mention I am renting. :(
Submitted June 29, 2017 at 10:52AM by Preconfiguration http://ift.tt/2u2lLDz
