Free Debt Management & Bankruptcy Articles

Professional Authors - Professional Articles



Debt Consolidation Loans – Yes or No?


Having debt problems? Losing your way around debts that you just don’t seem to get rid off? Do you have debts everywhere and is it hard to keep track of them all? Then try some debt management services. One debt management service is debt consolidation.

Debt consolidation is a way of managing your debts. It usually offers a single loan to pay off your current debts which gives you the benefit of paying on one company rather than many. This tactic of debt management lets you keep track of your debts and gives you an escape from multiple debts or even bankruptcy, if your debt is worse, or is it? Debt consolidating companies are everywhere! And a lot of them are fraudulent and unethical and instead of relieving you of your debts, they exacerbate your situation.

Fraudulent debt consolidation companies always promises instant debt relief in a short period of time, offering a much lower interest rate, and even cutting down on interest. These things would be really enticing to those who are in the debt and on the verge on bankruptcy, and these companies easily offer loans to them almost without a second thought.

Debt consolidation is really a way out of your debts, but before you go into it, you should first choose what debt consolidation company you should apply to. Make sure that they are genuine and not fraudulent companies who will really help you get out of your debts and help you avoid bankruptcy.

One of the best debt management practices is having debt consolidation which offers low interests for of having a secured loan, which requires insurance like having your house or car as security for the loan. Because it entails a property, companies offer a much lower interest rate, not to mention a lower monthly payment and a longer re-payment period, which gives you time to pay the entire debt. However, a longer period of debt payment, even with low monthly bill and interest, makes you pay a lot more than you should probably pay. Just like buying a house via installment plan makes it more expensive than paying for it with cash.

Other than having to pay more in time, one disadvantage of a secured loan is that if there comes a time that you can’t pay the monthly bill or payment then the company reserves the right to foreclose on your property which is usually a home, therefore you will be at risk of losing your house to the Consolidation Company.

So a question remains, is debt consolidation your way out of debt? Weigh the facts, plan ahead; problems are best solved with plenty of thought and resolve. Debt consolidation may be a way out if you plan it out properly.



Comments
Yuette Bramante commented on 06-Sep-2015 11:02 AM
Wow. Thorough information.




Post a Comment




Captcha Image






BLOG TAG CLOUD
interest rate medical bill help with debt careful handling children budget your rights debt traps social services honesty interest back support flat broke illness debt consolidation loans debt solution security payday loan common debt traps debt relief agency borrow money restrict spending total balance good debt savings account credit card paying bills debt settlement credit card traps making payments child support debt installment plans checking account bank accounts down payment family budget loan good credit managing debt overbearing bills high interest rate debt collection agency credit reports repay payment behavior gambling debts save money whole family groceries loss of income children saving lending companies secured loan regain control monthly budget purchases bankruptcy discounts common debt salary losing your job live your life checks hospital allowance reduce debts credit checks building debts understanding filing bankruptcy court appearance deb consolidation personal finances good budget budgeting past bad debt phone calls injury insurance borrower overspending get out of debt budget short sale bad financial decisions internet tax info debt management mistakes visualization candidate chapter 7 mortgages management tips worksheet credit card debt piling debts bank debts younger children domestic support liability good credit rating payday loan companies spending saving comfortable living credit company paying out debt unexpected expenses payment frequency credit report unemployed bad debt management interest payments less money introductory offers check card credit line credit history lending company monthly bill sickness original creditor prioritizing credit bureaus loan amount rent payments home debts debt company savings credit score house loan teaching children finance pay off debt part time job budget ideas financial security mortgage payments credit card companies Consolidation Company asset info full details rebuild good credit credit repair telephone bills debit card loan companies debt management advice debt unsecured loan utility payments pay off bill car loan lose your job stop harassment debt management tips extra money Chapter 13 credit rating saving money repay loans debt relief purchase protection low interest budget categories live within means cash card need money become free charitable organisation order report take control of debt seperate accounts investing government assistance account fees child support debt consolidation debt programs handling money understanding home equity bad debt job loss child spending ongoing bills debt problems insurances borrowing education credit card company negotiation debt collector help management advice tracking money cash cancer money income installment plan monthly payment budget sheet specific budget categories great budget ideas management program control spending cable bill debt payment period account interest help medical bills spend money classify bills losing a job loans implement a budget debt management receipt legal action expenses credit scores monthly payments own money consumer lawyer invest money loan agents extra payments paycheck account charges school jobs interest rates debt collectors more income doctors credit card help financial education loan harassment trusted friends new job household items hobbies family assistance emergency savings account gambling problem debt consolidation medical debt assets initial research credit credit cards modified payment plan creditors home equity credit limit overcharging credit companies finances bills credit accounts ill health negotiate taking responsibility good credit record learning experience deals in writing unreasonable expectations professional second job great budget debt free software paycheck info personal finance home equity loans buying a house repayment plans fly-by-night



Copyright 2016 - Free Info Site Enterprises
Privacy Policy  |  Copyright Policy  |  Website Use Policy  |  Non Endorsement Policy  |  Contact Us  

Finance Blogs
best blogs