by 2 people |
Debt Relief or . . . More Grief ?
Many online articles about debt consolidation loans usually fall in one of two camps: they either urge you to obtain a consolidate debt loan or . . . they flat out warn you against getting one. Hopefully the information provided on this site will give you a balanced view.
So, is a debt consolidation loan a wise choice for you? Will it provide debt relief or ... bring on more grief? It depends... and that's what we're here to explore.
"consolidate debt loans"
are commonly referred to as ... 'debt consolidation loans'
Two Common Reasons People Consider Consolidating Debt
Example of lowering debt payements: Instead of paying a total of $1700 a month for several credit cards and personal loans, a debt consolidation loan payment may be $1,200* or less. In other words, usually provides a way to you to make a lower monthly payment spread out over a longer period of time.
Example of lowering interest: By exchanging a 21% interest rate on a credit card for a 7% - 9% home equity loan, the borrower can save more than 12%* worth of interest payments.
____________________________________________
* Note: these figures are for illustration purposes only and are not indications of what you'll be required to pay).
How to get out of debt???
"Get Out of Debt" Options. . .
How to Get Out of Debt, Stay Out of Debt, and Live Prosperously: *(Based on the Proven Principles and Techniques of Debtors Anonymous)
Amazon Price: $9.36 (as of 01/07/2010)
"What I liked best about this book is that it's real. It doesn't sugar-coat the frustration and even embarrasment that you can feel when you find yourself 30,000 or more in debt." By Margaret Arvidson (Alexandria, VA)
What "Wiki" Has To Say About Debt Consolidation
You Can Start Living A Debt-Proof Lifestyle... Now!
Debt-Proof Living: The Complete Guide to Living Financially Free (Debt-Proof Living (Paperback))
Amazon Price: $11.55 (as of 01/07/2010)
"What can I say? This is a darn good book. After reading "How to Get Out of Debt, Stay Out of Debt and Live Prosperously" by Jerrold Mundis, I thought I had read it all. That book changed my life. This book by Mary Hunt has taken me to a higher level." By Michael Mendenhall (Monterey, CA United States)
Debt Consolidation Loans FAQs
Here are the top 5 questions and answers regarding "debt consolidation loans."
Are "Debt Consolidation Loans" for Everyone?
The answer is YES ... and NO. You can work with the best debt relief company in the country, but if you don't have the right financial attitudes, you'll only ignore the advice they'll give you and still end up indebted in the future.0 points
Is A "Consolidate Debt Loan" Good or Bad?
It depends on whether you're dealing with a legitimate, ethical company or not. If you're not, then there's a good chance that you'll just be in even more debt than you started with. That's why it's always best to thouroughly research the company first before signing any contract with them.0 points
Will A "Debt Relief" Loan Make My Financial Worries Go Bye-Bye Right Away?
Absolutely not! And an honest debt relief company will tell you so. Their part is to make your debts as manageable as possible by lowering the total amount of debt through better interest rates and payment methods and extending the term. Your part is to save money and spend less. If you can't do that, nothing, not even a debt consolidation loan, can save you from bankruptcy.0 points
When Is The Right Time to Get A "Debt Consolidation Loan"
Only YOU can answer this one. If you feel you're about to explode with the pressure from creditors, then yes, maybe it's the right time to call and ask help from a debt relief company that you have researched. Remember that it depends on you, and how you feel about your debts.0 points
Should I Get A "Bill Consolidation Loan" for All My Debt At One Time?
Suggestion: To start, why not let the debt relief company work with a portion of your debts, first. If the results are positive, then you can let them handle the remainder of your debts. If the results are not so good, you can breathe a sigh of relief that you escaped a great deal of harm and then switch to another debt consolidation company immediately.0 points
Download this in minutes . . .
Has this lens been helpful??
-
Reply
- millstonerobert millstonerobert Oct 18, 2009 @ 2:08 pm
- Excellent lens on Debt Negotiation Settlement, I found it very informative and user friendly, it's important that people are made aware of their options if they ever fall into an insurmountable level of debt.
-
Reply
- dacks dacks Dec 14, 2008 @ 11:31 pm
- thanks for the info. check out free debt consolidation companies for more about living life free from debts
by nDee
Looking for info on debt consolidation loans? You're wise to look before you leap. I'm glad I did.
(more)Explore related pages
Warning! Don't Join a Debt Settlement Program Before Reading This Web Article!- Debt Settlement & Debt Consolidation Companies take Advantage of People in an Em...
How To Obtain Low Interest Debt Consolidation Loans- Debt consolidation loans are a kind of loan that consolidate the total amount of...
Freedom From Debt - Is It Ever Possible?
- Has debt ever made you too scared to open the mailbox because you know that it'l...
Resources and information to get out of debt- The Debt Consolidation Center focuses on finding answers to all your debt relate...
Debt Help for the Credit Challenged
- If you feel like your debt is strangling you and seriously affecting your life,...
Debt Management Tips for Frenzied Consumers
- Living with debt isn't an option if you want to stay healthy and sane over the y...
