Considering Debt Consolidation

So with money being really tight right now, I’m looking to consolidate my loan with another company in hopes to have a lesser interest rate and maybe even figuring out how I can get some extra money so I can use it towards getting at least a down-payment on a car so I can finance it monthly through the dealership itself. It’s a long-shot but I don’t have much of a choice right now, so I’ve been looking into debt consolidation online . Unfortunately I have to say that I won’t be consolidating the loan with HSBC (the original lender) because the interest rates are still too high for my liking and I’d have to go through this huge reapplication process in order to even GET more money out of them. I don’t want to travel up to New York to bother my father (co-signer) with all of this so we’ll have to see what happens with another company.

I’ve been looking into numerous resources, focusing on Capital One because I have my credit card with them but even then I supposedly haven’t made enough payments for my credit card to be considered for a loan. It’s not that I don’t pay my card, it’s that it’s a $500 maxed out card and I send the minimum of $15 a month. I pay them on time, it’s automatically billed out of my bank account but I haven’t been with them long enough to have “enough credit” with their company in order to attempt to ask for more money. I know that within the next six months if I keep up with the consecutive payments I’ll be bumped to a $2,000 credit limit but for now I do still need to figure SOMETHING out.



A thirty-something code ninja + web diva. Former New Yorker who's passionate about web development, HTML/CSS, beautifying things and marketing.

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