Q: >What happens if I miss my monthly debt consolidation payment?

A: If you miss a payment to a debt consolidation loan, it will be like missing a payment to any other debt. You will incur late charges, increased finance charges, penalties, and probably suffer collection calls and damages to your credit. If you miss two or more payments, then you will be at risk of defaulting on the loan. That can be extraordinarily bad for your credit, and in the case of a home equity loan, could result in the loss of your home. However, there are always options for people who are unable to make good on their debt obligations -- debt management plans, debt settlement, and as a last resort, bankruptcy, can all be applied to debt consolidation loans, just like any other debt.

Other Debt Consolidation FAQ's Related Debt Consolidation Articles
Begin Online or Call 1-800-936-6618

Find the Right Debt Solution
Start With a FREE Debt Analysis

1. Which of these best describes why you are
    in debt?

2. What types of debt do you have?
    (please check all that apply)
img
Please Note: Unsecured debts are debts such as credit cards, personal loans, lines of credit, store cards, medical bills, and utility bills that are not secured by collateral. Mortgages and car loans are NOT considered unsecured debt.
Privacy Policy | Terms & Conditions | Sitemap | © 2004-2009 Triad Media Solutions, Inc. All Rights Reserved.