I borrowed $6500.00 unsecured from a bank in 03/2005, can I end this loan without paying all the int

I borrowed some $6500.00 unsecured debt from a bank in 03/2005, I have never been late till I lost my job in 10/2006. My monthly payment is $227.00 and interest rate 26% but they have kept harassing me sending me a bill of $6243.92 and $989.32 past due. making my total balance $7233.24. Please advice me on how to settle this bank.

I borrowed $6500.00 unsecured from a bank in 03/2005, can I end this loan without paying all the intersest?

The best thing you can do is to call them up and explain to them your situation. They can make a special arrangement with you.

Check out this nonprofit organization

http://www.creditadvisors.org/

Good luck.

I borrowed $6500.00 unsecured from a bank in 03/2005, can I end this loan without paying all the intersest?

You can settle it by paying off the loan in full and i bet they will knock alot of charges off it.

I borrowed $6500.00 unsecured from a bank in 03/2005, can I end this loan without paying all the intersest?

Are you currently working now?

If so can you call them and see about making a payment plan with them.

When you borrow money that is unsecured, one of the terms of the contract is that if you violate it then they can come after you for the full balance of the loan. Because of the interest rate of 26%, the current balance of $6243 sounds correct. If you talk to the bank, you might be able to get them to waive the nearly 1k in late charges and attorney's fees but probably only if you have a repayment plan.

SIcne your credit was good enough to get the loan from the bank it might be an option to see if you can obtain a 0% balance transfer. Bank of america was offering these to nearly everyone a few months back so you might be able to secure one thru them.

Good luck!

P.s. If you were laid off from your job, you should see about getting unemployment.

I borrowed $6500.00 unsecured from a bank in 03/2005, can I end this loan without paying all the intersest?

Like Denny said, pay it off in full. That's the only way to get rid of them.

However, if you had the means to do that, you wouldn't be late.

ST