What is the best way to consolidate debt without using a line of credit?

I have only one negitive on my credit report, 90 day late payment on a student loan from 2003. The loan has been payed in full for over a year now. But, I am unable to get a line of credit to consolidate my debt which is minimal. What options are out there? I am currently on a waiting list for housing and my number should be up in a year and a half. I need to get rid of my credit cards and put together the down payment for my place in this time. Any suddgestions?

What is the best way to consolidate debt without using a line of credit?
to start the process of buying a house this is what I did:


To boost your credit score:


The first thing you will need to do is call the three major credit reporting agencies and request a free copy of your credit report.





www.equifax.com


www.experian.com


www.transunion.com





Then once you get those in the mail (7-10 days) there will be a dispute form attached to the reports. Fill those out for every negative account on your report regardless. Fax, mail go online whatever it takes to get those submitted as quickly as possible. Then those companies must answer your dispute within 30 days or it is removed from your credit report completely. So that will eliminate some things, hopefully.





Then make sure you pay all your revolving accounts to below 50% of your credit limits.





Make sure that you make all your payments no more than 20 days from the date it is due.








Good Luck!
Reply:WHATEVER you do, STAY AWAY from all of those debt consolidaters you see on TV. The ones that claim they can %26quot;Get rid of interest%26quot; and stuff like that. They charge an outrageous fee, which they are shady about, and creditors consider it as bad as bankrupcy on your credit report.





Try contacting the bank which has the negitive and just ask them nicley to remove it. Always worth a shot. If that doesnt work, try disputing it through the three credit agencies. Usually, if a debt is resolved, a creditor wont waste time trying to prove its real.
Reply:you don%26#039;t say what type of debt you have, but if it%26#039;s credit card, take the one with the lowest interest rate and use it to pay off all the rest. then make sure you pay at least the minimum on that card each month, Obviously, you want to pay more as you are able, but at least the minimum will keep your credit on track.





good luck
Reply:If you are having huge debts but cannot or will not pay, apply for bankruptcy. You do not pay your bills to your creditors but make a single payment each month to the settlement company. Your lenders will ask for the payment from this company. When your level of debt reduces substantially, the settlement company will negotiate with your lender to settle your account. The settlement does not exceed 50% of the balance outstanding. This will let you clear off your debts within 2 years. But the major drawback of this method is the damage caused to your credit rating. Ascertain the reputation of the company before using their services.
Reply:Go online, or to a local credit counselor, they can get you on a repayment plan with your crediy card compamies. Your credit does no matter with them they are there to help you get out of debt the fastest and easy way.
Reply:Do not consolidate- that will only give you one large payment instead of a few smaller ones and will also increase the time needed to pay them off. Your best bet would be to take the lowest balance credit card and start %26quot;overpaying%26quot; it monthly- now if you are only making minimum payments on the cards you cannot afford to pay them off, nor consolidate nor save for a down payment, so if you are in a good financial place that you can pay off a credit card one at a time and still save a little toward the down payment that is what you should do. If you have any cards that have a really high interest rate but the balance is the highest-- ALWAYS pick the card with the highest interest rate to pay off first-- because most of your monthly payment is going to interest and not the principal of the loan so that card would take you the longest to pay off--and needless to say, do not buy anything on credit- pay cash only and if you don%26#039;t have the cash, don%26#039;t buy it. You can%26#039;t get the line of credit because of the 90 day late on the student loan-- that is why it is important to start overpaying on the highest interest credit card- continue with on time payments on the other and if possible even if it%26#039;s just 20 bucks more a payment, start paying a little more on the other two--you may be surprised in 5-6 months, you may get offers for consolidation---but don%26#039;t do it! That will mean your credit is getting better and you do not need to consolidate-





good luck to you------ps if you can work overtime- use that extra cash to pay down those cards--- and once paid, you personally close 2 out of 3- leave the lowest interest card to use and charge on it every month and pay all but $5 a month on the bill--- that will crazy enough, increase your credit rating because it will show that you are using credit but are able to pay on time, in full if you wanted to and are a better credit risk--crazy rules but that%26#039;s the government for you---don%26#039;t pay it off every month because that would mean you are NOT using credit........crazier yet..............good luck to you
Reply:can you get all your debt on ONE card ??? and ask for a lower interest rate ??? You should clear your credit report of that late loan....since it%26#039;s been paid off. (only you can do that.)
Reply:go to your bank and speak with a loan officer.





the a.p.r. would probably be lower and their criteria for lending might possibly be less stringent.





best of luck.
Reply:What I did was pay minimum on all my cards but one the smallest one I payed extra and once it was payed off I put what I was paying on it to another card and so on. also I used my income tax to pay off some cards. i am now debt free and just got a house that%26#039;s what worked for me.
Reply:i have a suggestion, dont spell suggest with two d%26#039;s. it makes you look about as dumb as someone who relies on yahoo answers to consolidate their debt.

floral