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debt consolidation

5 Myths About Debt Consolidation Debunked

Are you wondering whether to go for debt consolidation or not? Maybe you have heard some rumors about it and need some new perspective. Debt consolidation is nothing but merging all your debt into one loan with a lowered interest rate and extended repay period. It might seem easy and straightforward but it’s not. There are many terms and conditions that are involved which make applying for a debt consolidation a headache. Here are the 5 myths about debt consolidation loans. 1. It is bad for your credit score Consolidating your ...
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Debt Consolidation For Problem Credit

There are various ways for an individual to handle debt problems. There is always the legal option of bankruptcy but a person may want to consider debt consolidation, debt settlement programs or credit counseling programs first. Debt consolidation refers to the act of taking out one loan to pay off many other debts. This loan is usually at a lower and fixed interest rate while the debts that it pays off are usually at a higher interest rate or maybe even a variable rate. You can get a consolidation in the form of another unsecured loan but more ...
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Using a Loan to Refinance Your Debt

Even people with the best credit score and a good income may at some point carry outstanding debt, either in the way of credit card debt, car loans, or even loans to renovate their home. If you find yourself in a situation where you have several different debts at once and you are tired of managing multiple payments with varying interest rates then consider applying for a loan to refinance your debt into one loan. This works especially well for people that have a steady income and a decent credit score. By refinancing your existing debt you will ...
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Debt Consolidation To Solve Or Improve Problematic Credit

If you have bad credit and you are considering bankruptcy, you may want to look into debt consolidation, debt settlement programs and credit counseling services. These may be viable options to consider. Debt consolidation generally involves getting one loan and paying off your other debts with the proceeds. The benefit is rather than having a few payments too many, you end up with only one payment, which may make your finances more easily handled. Often these types of loans are secured by collateral and many times people will use home equity for ...
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Debt Consolidation Loans To Repair Credit

A debt consolidation loan may be one way to help you reduce your debt load and more quickly repair your credit. Typically, a debt consolidation loan will combine several loans into just one giving you just one monthly payment. Often this monthly payment is less than the combined monthly payments on the loans before the consolidation. Banks offer both secured consolidation loans and unsecured consolidation loans. A secured consolidation loan is usually like a home equity or second mortgage on a home. With the declining real estate prices across ...
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No Such Thing As A Credit Card Bailout

No doubt you have probably seen the headlines “Obama’s credit card bailout” or some other just as ridiculous thing. But there is no such thing. No bailouts for credit card debt from anyone. What this is, is an advertisement for some type of debt settlement company who wants you to call. If you call then they have the opportunity to sell you on their services. Debt settlement programs usually try to help you out by negotiating with your lenders for you to pay a lesser amount to satisfy the balance. If you are in trouble it may work ...
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No Credit Card Bailout

You may have seen or heard advertisements about a “credit card bailout” that is designed to help individuals with problematic credit card debt get some relief. These ads seem to be popping up all over and they must be successful because more and more of them are showing up. But here is a newsflash for you. There is NO Credit Card Bailout. Not from the President, the Congress, the Banks, The Credit Card Issuers, Santa Claus or the Easter Bunny. Not from Bill Gates or any other Bazillionairre. Not from anyone, anywhere, any place, any time. No ...
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Is Debt Consolidation A Good Solution For You?

Debt consolidation is often a great solution to help get your personal finances back on track. With all of your bills combined into one easy payment it can be easier to get ahead because you end up having more discretionary income. Take this short quiz to see if debt consolidation can be a good solution for you.
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