Why debt consolidation?

Submitted by infowebz on Fri, 01/29/2010 - 13:43

1. This will make you easier to bidget your cash
2. Lower payments, because a debt consolidation loan often has a lower interest rate then other like credit card.
3. Recover you loan in short time

A debt consolidation loan through your local bank is always a plus. Interest rates are in fact much lower than those charged on credit card purchases. Another plus about having your bank take care of consloidating your loan is they will make the check out to the company and mail it to them directly. Most will also include a paragraph in the letter that says "this loan is paid and should be closed upon this payment". You do not have to close the account. You can go in after the payment is made and ask to have the account left open.

Fri, 01/29/2010 - 19:50 Permalink


Debt Consolidation is the best option to pay off debts when a person has very less option. It lowers the interest and joins a number of monthly payments into one. Therefore, it becomes much easier for the person to pay off the debts.

Sat, 01/30/2010 - 12:36 Permalink

I think we shud all be current on the verbiage in debt management and not confuse 1 solution for another as profit agencies are constantly using similar terminology to lure unknowing consumers to their product or service.

Debt consolidation- closing and consolidation of unsecured debts into 1 monthly payment that is sent each month thru 3rd party for reduced rates and a lower monthly payment.

debt settlement - consolidation of closed, charged off accts into 1 monthly payment thats held each month until enough funds are obtained to begin settling the debts for less the amount originally owed - usually 40-60% less.

consolidation loan - consolidating open or closed accts into another unsecured loan with interest instead of service fees by 3rd party for the convenience of one APR and 1 monthly payment.


Wed, 02/17/2010 - 19:25 Permalink

Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an asset that serves as collateral, most commonly a house.

Fri, 04/02/2010 - 14:36 Permalink

Debt Consolidation is very good way to pay off your loan, because it merge all loan in one and also decrease your monthly payment. so use this service.

Wed, 04/28/2010 - 16:50 Permalink
unsecured debt… (not verified)

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Wed, 04/23/2014 - 23:01 Permalink