What is Financial Consolidation?
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(m)\n\nThe process of consuming data from different financial systems and combining that information through aggregation and consolidation to create financial analytic views and comprehensive financial statements, which are compliant with accounting and financial reporting standards.*
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By law, approved consolidators cannot charge a fee.\n\nHere is a list on them which will do bad credit loans: http://lendersrated.com/studentloans.htm...\n\nHope it helps you...\nkarateross
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The process of aggregating similar instruments, such as loans or mortgages, into a negotiable security.\n\nSecuritization is a financial technique that pools assets together and, in effect, turns them into a tradeable security held by a bankruptcy remote special purpose vehicle (SPV). Financial institutions and businesses of all kinds use securitization to immediately realize the value of a cash-producing asset.\n\nSecuritization can also have the benefit of removing a particular group of assets from a company's balance sheet. However, this will become increasingly difficult as accounting standards evolve (e.g. from US GAAP to IFRS standards). If it can be achieved, it is particularly important when the assets are in the form of debts owed to that company and the company is a bank. Residential mortgages for example, are a debt owed to a bank, but are also an exposure for the bank. Essentially, the bank is exposed, because its money is held by other people and, if those people default, then the bank may suffer loss. This exposure may well need to be reported to appropriate regulatory authorities, who may in turn restrict the amount of money a bank can lend (to potentially more profitable and secure borrowers). Securitization thus allows a bank to, essentially, sell on this exposure, and use the money for more profitable purposes. However the bank is not completely off the hook by "selling" off these assets because the bank often maintains what is called a first loss piece or residual interest and carries that on its balance sheet. The first loss piece is just that, it is the first piece to absorb losses when and if the assets do not perform. The kick is that the bank will often remain the agent for the transferee (e.g. the person who buys the debts owed to the bank). The bank gets a fee for managing the pool of assets. It maintains the relationship with the mortgagor (the original person who borrowed money from the bank) therefore, while having none of the lending risk.\n\nSecuritization has evolved from its beginnings in the 1970s to a total aggregate outstanding (as of the second quarter of 2003) estimated to be $6.6 trillion. This technique comes under the umbrella of structured finance.
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A debt consolidation loan is not a bad thing by any means... just PLEASE make sure you don't run up additional debt on the credit cards you're consolidating.  If you do, then you'll not only have to pay the consolidation loan itself, but you'll be right back where you were with your old credit card payments.
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First, cancel your debt consolidation contract (if you can).  Many of these companies will simply let your accounts lapse just so they can try to settle the debt.  \n\nSecond, get out of debt yourself.  Otherwise, you've never changed your behavior which got you in debt in the first place.\n\nFinally, go buy a book called 'Total Money Makeover'.  This book will teach you how to eliminate your debt.  You can also consider a class (taught by the same person that wrote the book) called 'Financial Peace University' (see www.daveramsey.com).  My wife and I took this class in 2004 and are now debt free (except our house).  The average family taking this 13 course pays off $5,800 and savings $1,200.  \n\nContact me if you want specific help.  My wife and I now teach this class and have seen many people eliminate a ton of debt.  \n\nScott.....
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They assist in managing finances
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Wonder if you mean, "A Contract for Deed".\nYou really do not have a debt on the land in that case.  You do not own it, and will not until it is paid in full.  This is a little like lawaway.  You may pay "on it" for a time, but it will not be yours until paid.  If this is the case, I don't think the balance of the "land contract" would qualify for consolidation.  A lender would really be financing the balance of the contract.  If it has a market value above the balance, you may get a lender to do that, and consolidate, depending on the value, which fulfills security requirements.
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Debt consolidation companies that claim to reduce your debt make you pay a monthly payment, and when they have enough money saved up, they will negotiate settlements with your creditors. In the mean, no payments are made to the creditors so they will still be contacting you and report as past due and settled accounts to your credit bureau.  So, it may save you some money, but your credit is shot for a while. Plus they will charge a monthly fee.\n\nCredit counseling agencies make payment arrangements with the creditors based on the creditors policies. Creditors will reduce their interest rates and stop fees but will still get the full balance. Generally your payment is lower. It's also designed to pay off in 3-5 years. The creditors may notate the account that it's being paid through a credit counseling agency which may show as deragotory to some lenders. In the long term, since the debt is paid off, it won't be as bad. \n\nIn conclusiong, Debt consolidation or settlment companies may save you money, but it will hurt your credit. Credit Counseling will help your credit in the long term, but be more expensive since you pay back the full balance.\n\nI know that's more than you wanted to know.
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One way to handle this, if you own a house, would be to get a second mortgage or refinance your current mortgage for $42,000 more than the current balance of your mortgage.\n\nIf you don't own a house and cannot get a debt consolidation loan, there is little else you can do. The best thing would be to pay as much off as you can every month (always pay more than the minimum) until you have little enough debt to get a loan.
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If at all possible, go to your bank. They may be willing to give you a loan which means that you can pay your debt off with one automatic payment a month. I did this and I was amazed that they said 'yes'!\n\nOf course, this doesn't make the debt go away, you've still got to pay it back. The smart thing to do is get a grip on your finances, don't get into any more debt, and aim to pay the bank back quicker than they want you to.\n\nIf the bank isn't an option, then there's a website here with lots of information, pros and cons of debt consolidation. If you go down this route it really does pay you to do your own research and shop around.\n\nGood luck!
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Sallie Mae's consolidation product is great (http://www.salliemae.com ).  So is Citibank's (http://www.studentloan.com ). \n\nWhen picking a company to consolidate with, their web capabilities are important, but it's also important to get a company with a good reputation who's been in the student loan business for a while. Both of these companies fit this criteria.  Additionally, neither of them will ever sell your loans, so you can feel fairly confident that you won't get bounced around or miss a payment (which often happens when companies sell their loan portfolios a lot).
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You got a consolidated loan setup to lower interest on multiple loans you had trouble paying. That's your fault. Keep on the plan you have now or declare bankruptcy.
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You need a good consolidation company.\nConsolidating means creating a whole new loan for a longer period of time. This would hopefully lower your payments enough so you can get back on track, in this case it might SAVE your credit score.\nA credit counselor will give you some tools and suggestions for reducing your payments, just keep an eye on what the % are, you want it to be lower than what you pay now.\nHowever, debt consolidation can be nothing more than a way of putting off the evitable. It really does little to correct the problem. That's why many people come back to debt negotiation as a way of getting out of their financial problems and starting fresh start.\nMore here: http://finance.ebookorama.com \nalso plenty more to read here\nhttp://credit.ebookorama.com\nhttp://credit-cards.ebookorama.com\nhttp://credit-repair.ebookorama.com\ngood luck!
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M.K\n\nActually you can consolidate your loan with the government now http://www.loanconsolidation.ed.gov (Borrowers Services) and it's actually not as bad as you think. \n\nBefore you consolidate your loan check out the Borrowers Services and see if you can get a better rate. You can consolidate any amount even your $50,000 debt and its free to consolidate your loan!\n\nI know Salliemae is one of the best student loan consolidators but sometimes their rates can be a little high depending on your situation.\n\nDoesn't hurt to check them both out. Hope you get it worked out soon!
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I believe that credit consolidation companies work with any company that you owe money to, including original creditors and collection agencies.  You might want to ask before you sign up with anyone just to be sure.
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Consolidation of your student loans does not count against your credit score AT ALL!!!  Do not believe the person who posted earlier saying that.  It is no where near as detrimental as a bankruptcy.  In fact it is not detrimental at all.\n\nBy consolidating your loans you are reducing all of your loan payments to one payment.  This is by the best way to go and it is was I did with my school loans totalling $130,000.\n\nThere really is no downside to consolidation.  I would recommend doing it with the federal government rather than a private lender because interest and fees will be lower with the former.
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That's too general of a question.  If you've been responsibly paying your debts and have responsibly consolidated to reduce the interest you pay, it's different from the kind of consolidation done in response to credit problems.\n\nWebsites aren't going to be able to answer that question.