Credit products to main street (loan products to you and me) froze up too.It took a few years for the credit card market to return to even a fraction of its former pre-approved credit card junk mail glory.As a consequence, it can be more difficult to qualify for debt consolidation loans from major banks, and even your local credit union.Larger consolidation loan amounts are just not available like they once were.What does all this mean to the person looking to consolidate credit card debt today?
She helped me with receiving a loan to help pay some of my credit card debts off, and open a new checking and savings account.
If they are available to you, it’s often because you look like you don’t need one.
There are certainly some options available to consolidate credit card debt with unsecured loans.
But the traditional debt consolidation loan market has changed.
What used to be a loan option you would pursue from a brick and mortar bank has been replaced, in large part, by peer to peer, online lenders, and personal loan companies.