Debt Consolidation

Custom Search

Debt Consolidation
Debt Relief
Bad Credit Debt
Business Debt and
Christian Debt Consolidation
Consumer Debt Consolidation
Credit Card Debt
Debt and Bill
Debt Consolidation Advice:
Debt Consolidation Companies:
Debt Consolidation Credit
UK Debt Consolidation
Debt Consolidation
Unemployed debt consolidation:
Credit Card Debt
Debt Specialist In
What can debt
Debt reduction companies
Play the Credit
Understanding Credit Card
The Pro's and
Open the Cash
16.4% APR $5,000
Credit Cards Debt
Consolidate All Your
Pay Off Debt
Reducing Credit Card
What is a
Burdened with Debt?
Money Problems?
How To Get
How To Get
How To Get
How To Get
Debt Consolidation Solution
Debt Consolidation Loans:
Debt Consolidation: Why
Debt Consolidation
Debt Relief
Debt Consolidation Options: What Form is Right For You?
by Kris Koonar
When you decide to consolidate your debt, the obvious first question is “how?” and thats a question that isnt easy to answer right off the bat. Sure, you can go to your bank and ask them to consolidate all of your debts. You cou
When you decide to consolidate your debt, the obvious first question is “how?” and thats a question that isnt easy to answer right off the bat.

Sure, you can go to your bank and ask them to consolidate all of your debts. You could get a new credit card with a 0% interest rate on debt transfers. You could call a credit-counseling bureau, many of which were recently taken off ‘tax exempt status by the IRS, because rather than working to help you, they work to earn a huge profit off you…

Every option has a downside, and there are more options besides. But lets go through these three possibilities and break down the advantages and disadvantages.

Banks love it when their customers decide to get smart with their debt burden, and they love it even more when they do so with that bank. When you transfer $10,000 of credit card debt (at 19% interest), a car loan (at 15% interest), and a retail charge account (at 18% interest) into a single bank loan at 9% interest, both you and the banks win. The downside of this is that banks can be tougher to get credit from than other lending institutions, and that means if youre in real debt trouble, they might not view you as a good bet.

Some credit card companies send out special offers to try to entice you to bring your business to them. For example, one is the offer where theyll give you a new credit card with a sweetheart rate, and any debt you transfer from an existing credit card, theyll let you pay zero percent interest on. Thats not a bad deal, but the devils in the details after a certain amount of time, your account reverts to above-standard interest rates, sometimes as high as 29%. In this instance, using a credit card to consolidate debt may actually see you with more debt burden in six months time.

These outfits claim to be non-profits that are only there to help you get out of debt, but the reality is the industry has been taken over by people who earn big money from your creditors by getting you to pay them back in a prompt fashion. For example, lets say your best option is bankruptcy hey, sometimes you just need to start over. A credit-counseling bureau, which gets paid, based on how much you pay back, will be much more inclined to tell you to NOT go for bankruptcy, because they make more if you spend three years eating noodles and sending all your money to Visa. Avoid.

In the end, your best bet, if you can manage it, is to have your bank set you up with a debt consolidation loan. The rate will be better, the payment structure easier, and you can cut those credit cards into pieces at last!

The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
debt consolidation, home loan, mortgage, debt free, debt help, refinance, equity loan, unsecured, secured debt, bankruptcy, credit card , bad credit, payday, cash advance, cash settlement, line of credit, student loan, interest rate, borrow money, car loan, adverse credit, compensation, quote, credit score, consolidate debt Red Boiling Springs Franklin Wellington township Edgerton Westmoreland town Hand County Fairmont Manvel Livingston County San Marino Worcester town Brillion Lincoln Park borough Catawissa borough Nixon city (pt.) Milano Foley Angelica village Balance of White Pigeon township Nordheim Swedesboro borough Methuen Oakwood Lee township Westland Balance of Geneseo town Denmark Harrisonville Tolna Bronson USA UK Australia Canada Niger Australia Saint Pierre and Miquelon Saint Helena United Kingdom Rwanda Solomon Islands Jordan Austria Vatican City Glamorgan Berwickshire Norfolk Perthshire Berkshire Clackmannanshire Buckinghamshire Flintshire Yorkshire Berwickshire New Hampshire (NH) Virgin Islands (VI) Wisconsin (WI) Puerto Rico (PR) Montana (MT) Washington (WA) Kansas (KS) New York (NY) California (CA) Palau (PW) Virgin Islands (VI) North Dakota (ND) Virgin Islands (VI) Arkansas (AR) Louisiana (LA) Alaska (AK) Wisconsin (WI) Ohio (OH) Northern Mariana Islands (MP)