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All about Debt Consolidation loans
Debt consolidation loans can be the answer to a number of financial problems, but before you take the plunge, make sure you're well informed.
What is a debt consolidation loan?
Debt consolidation is when you arrange a single loan to cover a...
Bad Credit Debt Consolidation Loans
Are you looking to consolidate credit card or other debt? Do you have bad credit history? There are many options available online nowadays to help you consolidate your debt. Whether you are wanting to consolidate credit card debt or other kinds of...
Debt Consolidation -- Choose Your Credit Counselor Carefully
Recently passed by Congress, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 will require people who are filing for bankruptcy to first undergo mandatory credit counseling. This is probably not a bad idea; after all, many people...
Debt Consolidation Loan and Consolidation Loans
Debt consolidation loan services act as a third party intermediary to assist you in negotiating lower interest fees and monthly payments with your unsecured debt holders. If you are falling behind on your monthly payments, as many consumers are,...
Debt Consolidation: The Truth Is Out There
You’re broke. You’ve got bills that amount to more than what you could earn in a year. Heck, it’s even more than you could earn in a decade. You can’t borrow from your parents, your relatives, your friends or your ex-partner. And your bank manager...
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Debt Consolidation can and will ruin your credit!
Yes, Debt Cosolidation isn't a good idea and I'll tell you why. I've done research of my own and found out some disturbing information.
You've seen those long drawn out commercials full of promises to get you out of debt. They use words like "non-profit" and "conseling". To get you suckered in, then they got you. You call and you have 5 bills that are overdue. Remember the words "non-profit", okay now they want you to give them the account numbers and creditor names that you owe the balances. You do that and here comes the fees! Didn't they say non-profit? Yeah right! They may charge $5.00 per account or a flat rate of 39.95 a month. Thats $480 a year, don't forget that they draw your payments out as long as possible. I mean where do you think these "non-profit" companies get their funding from? Your looking at
$1440.00 in three years. To add to that the consolidators even earn about a 10-15% commision from the creditors. You thought they were on your side...Not! That's not all, when the consolidators call your creditors they close your account. Now do you think your credit score will go up or down? Down more than likely. They also only negotiate the interest you owe not the actual balance.
Debt consolidation in my opinion is a "RIP OFF". You can do better doing it youself. You can and will if you visit Credit Secrets 4 You Sign up for a FREE newsletter to get more credit help, tips and secrets like this one.
I do research mainly into credit and government grants. I'm an HTML/CSS goddess currently mastering Javascript. Email me if you need a webdesign.
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