OBTAIN A LOAN
(Home Equity, Line of Credit, Personal Loan from family or friend)

Obtaining a loan often requires equity in real estate property or other collateral to pledge against it. You must then qualify for the loan, meeting underwriting guidelines for employment, income and debt ratio. Borrowing money in the form of a loan simply transfers your debt from one place to another. These types of loans take your unsecured debt and secure it against the equity in your home or other personal asset. Moving your unsecured debt to a secured loan places your personal asset (e.g. your home) at risk if you are unable to continue to make your monthly payments. Although a debt consolidation loan or line of credit is a convenient solution, it does not reduce the amount you owe. In fact, a debt consolidation home equity loan or line of credit loan may actually increase your debt depending on the interest rate and points charged from the lender.

Additionally, borrowing money in the form of a personal loan from a family member or a friend can be awkward. Explaining your personal finances and financial hardship may create unnecessary tension, unspoken discomfort and strain on your personal relationship. Repayment of the loan has the ability to destroy trust and create friction if a payment is missed.

To learn if debt-resolution can offer a solution for you, CLICK HERE to find out how we can help you today.

Debt-Resolution
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Disclosure: Individual results may vary and are dependent upon several factors including individual circumstances, creditors’ willingness to settle, successful completion
of program and ability to save funds. Americor Financial debt-resolution program does not assume or pay any debt, nor does it provide legal advice or offer credit repair.
resolution estimates of 50% are examples of past performance of settled accounts and do not take into consideration our service fees or potential tax consequences.
Please consult with an accountant regarding this. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within
a specific period of time. Program not available in all states. Read and understand contract terms before enrolling.