You walk out to your mailbox and open it up, hoping to receive some good news, but instead you pull out bill after bill after bill. But among those bills is an envelope with an offer of loans for debt consolidation. Facing a problem in paying your monthly payments, you might consider debt consolidation one way to help get your finances into a situation that's more manageable. But should you really consider loans for debt consolidation or should you think about other alternatives to help restore your secure financial footing? A debt consolidation loan can be a lifesaver, but before you sign off on those loan papers, make sure you carefully consider the terms of your lending agreement.
Certainly, if you have decent credit, loans for debt consolidation should be available to you. But be very careful, there may be a number of lenders out there who will offer you loans that look good on the surface, but in the long run turn out to be even more costly to you than paying off the existing debts you already have. Let's take a look at an example:
Let's say you have an outstanding debt of $11,000 on a number of loans, and the overall interest rate works out to 14 percent, and you have five years (60 months) left to pay. Your monthly payment would be about $260 per month. But suppose several companies come along and offer you loans for debt consolidation in the full amount that you owe ($11,000) but instead of $260 per month, they offer you a monthly payment of just over $190. Hey, you can save $70 a month, so that may sound like a good deal to you. However, as it turns out, this new loan is actually at a higher interest rate (17 percent) for a longer term -- ten years instead of five.
So how much would saving $70 per month cost you in the long run by accepting one of these loans for debt consolidation?
If you stuck with your original loans and managed to keep making your $260 per month payments, you would end up paying back a total of about $15,400 on that $11,000 in loans. If you take the new loan and pay off the $11,000 in debt, your new payments over the ten year period would amount to about $22,900 -- or $11,900 in interest!
So you see, upping your interest rate and extending the number of years to pay on your debts may save you some money in the short term, but jumping headfirst into one of these types of loans for debt consolidation will end up costing you a whole lot more in the end. If you're considering taking out a debt consolidation loan, make sure you look carefully at exactly what you're getting yourself into before you sign the paperwork. Otherwise, you may find yourself with a bad case of borrower's remorse.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Wednesday, July 20, 2011
Secrets To Debt Consolidation Loans For People With Bad Credit
I have this urgent message for you -- your credit score just fell by 80 points because you're two months behind on all of your loan payments. How truly awful it would be to receive a message like that! But let's face it, financial times are not nearly as prosperous as they once were. That means thousands of people are having trouble making their monthly obligations and many of those consumers are looking for debt consolidation loans for people with bad credit. Just because you find yourself facing an uphill climb due to your debt load doesn't mean that all is lost. Even if your credit score has suffered recently, you should be able to find a lender that can help.
First, it's a myth that debt consolidation loans for people with bad credit don't exist. They do, and perhaps in greater abundance today than ever before. Why? Because more and more consumers are facing increasing debt problems, meaning lenders must become increasingly accepting of less stringent credit rating requirements in order to continue to earn their fair share of the lending market. In other words, because of more difficult economic times, those with the money to lend are finding that the number of people with not-so-perfect credit is growing.
Second, just because you're experiencing credit problems doesn't mean you should be treated like a second class citizen. Don't be intimidated by any lender who acts like they're doing you a favor just because they're in the business of providing debt consolidation loans for people with bad credit. Anyone -- and I mean anyone -- can stumble when it comes to economic issues. There are plenty of reasons that you can become overwhelmed by your debt, whether it be due to loss of a job, suffering from a medical problem or disability, or even an unexpected death in the family. Whatever the case may be, you don't deserve to be treated unfairly simply because you've fallen on hard financial times.
Third, remember that there is still a lot of competition for your loan. You always have the right to shop around and find the best loan for your needs. Don't ever allow yourself to be pressured. Some lenders who target debt consolidation loans for people with bad credit might put pressure on you to close a loan immediately and use the fact that you're already past due on your accounts as a method to up the ante. Remember, if your credit score has already been affected negatively by your financial conditions, you shouldn't compound that problem by rushing into a loan that, in the long run, isn't the best choice for you. Be patient, don't be pressured.
Remember, you may be looking for debt consolidation loans for people with bad credit but that doesn't mean that your situation is hopeless. Keep the above information in mind and you can make a wise choice about how to safely and effectively consolidate your loans.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
First, it's a myth that debt consolidation loans for people with bad credit don't exist. They do, and perhaps in greater abundance today than ever before. Why? Because more and more consumers are facing increasing debt problems, meaning lenders must become increasingly accepting of less stringent credit rating requirements in order to continue to earn their fair share of the lending market. In other words, because of more difficult economic times, those with the money to lend are finding that the number of people with not-so-perfect credit is growing.
Second, just because you're experiencing credit problems doesn't mean you should be treated like a second class citizen. Don't be intimidated by any lender who acts like they're doing you a favor just because they're in the business of providing debt consolidation loans for people with bad credit. Anyone -- and I mean anyone -- can stumble when it comes to economic issues. There are plenty of reasons that you can become overwhelmed by your debt, whether it be due to loss of a job, suffering from a medical problem or disability, or even an unexpected death in the family. Whatever the case may be, you don't deserve to be treated unfairly simply because you've fallen on hard financial times.
Third, remember that there is still a lot of competition for your loan. You always have the right to shop around and find the best loan for your needs. Don't ever allow yourself to be pressured. Some lenders who target debt consolidation loans for people with bad credit might put pressure on you to close a loan immediately and use the fact that you're already past due on your accounts as a method to up the ante. Remember, if your credit score has already been affected negatively by your financial conditions, you shouldn't compound that problem by rushing into a loan that, in the long run, isn't the best choice for you. Be patient, don't be pressured.
Remember, you may be looking for debt consolidation loans for people with bad credit but that doesn't mean that your situation is hopeless. Keep the above information in mind and you can make a wise choice about how to safely and effectively consolidate your loans.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Where To Find The Best Online Debt Consolidation
If you've decided that you would like to find a way to reduce your monthly bill payments, you may find that debt consolidation is one way to help you reach your goal. These days, the internet provides a powerful resource for locating help with your loan obligations, so you may seek out an online debt consolidation solution. Be aware that if you search the internet for help with your debts, you're going to find many, many companies that are trying to sell you their debt consolidation services. That means you need to be careful when selecting a firm to trust with your online debt consolidation business.
So what should you look out for when seeking assistance with your debts? Try and find a company that has been in business and providing online debt consolidation services for a long time. You've got to be careful of trusting your finances to a company that doesn't have a long track record in the business. With so many people facing financial difficulties these days, more and more services are springing up with promises to provide safe and secure online debt consolidation programs. Unfortunately for the consumer who isn't experienced in the world of lending and debt management, it is easy to be misled by a service which appears legitimate on the surface, but later turns out to be another fly-by-night outfit that damages rather than helps improve your debt management.
Some online debt consolidation companies will offer to find you a loan that you can use to combine several loan balances into a single obligation. That means instead of three or four monthly payments to a number of creditors, you will instead have just a single payment to one company. While this sounds beneficial on the surface, you need to be very careful when creating a new loan arrangement. Some debt consolidation loans promise to cut your payments in half, but in order to do so they stretch out the payment term and still charge you a hefty interest rate, sometimes a rate that is even higher than you're already paying.
Other online debt consolidation firms will work with your creditors to maintain your existing loans but to reduce the interest rate and payments. This may be the preferred option for some, because it doesn't include taking out a completely new loan. Firms like these are sometimes referred to as "credit counseling" services because they consolidate your debts and promise the creditors that they are helping you to improve your debt management through financial counseling services. If you choose a debt consolidation service such as this, make sure you find out if they charge a fee for their services, and if they do, exactly how much that fee might be.
When seeking help with your debts you may find an online debt consolidation service to be just the ticket. But before you trust your finances to anyone else, make sure you check out the company and fully understand the agreement you're entering into before you sign.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
So what should you look out for when seeking assistance with your debts? Try and find a company that has been in business and providing online debt consolidation services for a long time. You've got to be careful of trusting your finances to a company that doesn't have a long track record in the business. With so many people facing financial difficulties these days, more and more services are springing up with promises to provide safe and secure online debt consolidation programs. Unfortunately for the consumer who isn't experienced in the world of lending and debt management, it is easy to be misled by a service which appears legitimate on the surface, but later turns out to be another fly-by-night outfit that damages rather than helps improve your debt management.
Some online debt consolidation companies will offer to find you a loan that you can use to combine several loan balances into a single obligation. That means instead of three or four monthly payments to a number of creditors, you will instead have just a single payment to one company. While this sounds beneficial on the surface, you need to be very careful when creating a new loan arrangement. Some debt consolidation loans promise to cut your payments in half, but in order to do so they stretch out the payment term and still charge you a hefty interest rate, sometimes a rate that is even higher than you're already paying.
Other online debt consolidation firms will work with your creditors to maintain your existing loans but to reduce the interest rate and payments. This may be the preferred option for some, because it doesn't include taking out a completely new loan. Firms like these are sometimes referred to as "credit counseling" services because they consolidate your debts and promise the creditors that they are helping you to improve your debt management through financial counseling services. If you choose a debt consolidation service such as this, make sure you find out if they charge a fee for their services, and if they do, exactly how much that fee might be.
When seeking help with your debts you may find an online debt consolidation service to be just the ticket. But before you trust your finances to anyone else, make sure you check out the company and fully understand the agreement you're entering into before you sign.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Monday, June 20, 2011
Crush Your Debt With A Bad Credit Debt Consolidation Loan
These days, financial burdens can mount in a hurry. One day it appears you're on very solid financial ground, and the next you're facing some tough economic problems either due to changes in the marketplace or changes in your own personal finances. All of the sudden you can go from feeling confident and secure about your financial position to being unsure and worried about exactly where you stand. When it appears that you're running into trouble and you find your credit score is starting to slide as payments fall behind, you may consider a debt consolidation loan. In some cases, if your financial condition has become particularly difficult, you may determine that a bad credit debt consolidation loan is necessary to help get your head above water again.
Let's face it, the old adage you often hear is that "the only people who can get credit are those who don't really need it". And in a sense, that has some truth to it. Those who once were riding high with excellent credit can find that they've fallen on hard times, and their credit score is affected by the late payments or inability to re-pay a loan obligation. That's when people start to realize they face a problem with the credit, and begin to consider a bad credit debt consolidation loan as an alternative. In many cases, such loans can be a lifesaver.
When payments to creditor begin to fall behind, you may find your credit rating falling right along with them. You may feel that it's time to turn to a debt consolidation loan as a way to climb out of your financial hole, but because your credit score has taken a dip, you may find yourself facing the prospect of a bad credit debt consolidation loan as your first choice. If you venture into the financial market, you'll quickly find that there are many loan options available, depending your current credit rating situation. If you have equity available in a large asset, such as a home or a vehicle that has been paid off, you may find that you'll be able to secure a consolidation at a lower rate because you will be able to provide something tangible as a way to secure the loan.
In cases where you are unable to provide equity to secure financing, you may face the prospect of seeking out a bad credit debt consolidation loan that doesn't require any security. In most cases, these loans will be at a higher rate, and may include a number of fees that a secured consolidation does not. Even so, if entered into with care and caution, a bad credit debt consolidation loan can provide you a method to avoid serious financial consequences.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Let's face it, the old adage you often hear is that "the only people who can get credit are those who don't really need it". And in a sense, that has some truth to it. Those who once were riding high with excellent credit can find that they've fallen on hard times, and their credit score is affected by the late payments or inability to re-pay a loan obligation. That's when people start to realize they face a problem with the credit, and begin to consider a bad credit debt consolidation loan as an alternative. In many cases, such loans can be a lifesaver.
When payments to creditor begin to fall behind, you may find your credit rating falling right along with them. You may feel that it's time to turn to a debt consolidation loan as a way to climb out of your financial hole, but because your credit score has taken a dip, you may find yourself facing the prospect of a bad credit debt consolidation loan as your first choice. If you venture into the financial market, you'll quickly find that there are many loan options available, depending your current credit rating situation. If you have equity available in a large asset, such as a home or a vehicle that has been paid off, you may find that you'll be able to secure a consolidation at a lower rate because you will be able to provide something tangible as a way to secure the loan.
In cases where you are unable to provide equity to secure financing, you may face the prospect of seeking out a bad credit debt consolidation loan that doesn't require any security. In most cases, these loans will be at a higher rate, and may include a number of fees that a secured consolidation does not. Even so, if entered into with care and caution, a bad credit debt consolidation loan can provide you a method to avoid serious financial consequences.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
The Facts About Government Debt Consolidation
There seems to be a great deal of talk about government bailouts these days. Every time you hear new financial news it seems that some company or group of companies are asking the government for help to get them out of a financial mess. But what about the individual? Are there any government-sponsored bailout programs out there to help the average U.S. citizen when he runs into financial problems? Do government debt consolidation programs exist?
Generally speaking, there simply aren't many government-sponsored programs to help the average citizen who is having problems managing their growing debts. When speaking of debt consolidation programs, many people immediately think of loans which are arranged as a means to bring several outstanding loan balances together into a single debt. While such consolidation loans may be available, other repayment programs work by an agency or intermediary acting on behalf of the borrower to negotiate more favorable loan terms with their lenders. Most often these are not directly sponsored by the government. There is one area, however, where government debt consolidation programs may be able to help: student loans.
In the United States, federal student loans are guaranteed by the U.S. government, and therefore are treated differently than other sorts of consumer loans. If you're looking for government debt consolidation of your federally guaranteed student loans, you can look into one of the many student loan consolidation programs available. Under such plans, your existing student loans may be purchased and closed by a special student loan consolidator, or by the U.S. Department of Education.
Before you consider a government debt consolidation agreement, make certain you understand that student loan consolidation should not require the payment of any fees by the borrower. This is decidedly different than private lending arrangements where the borrower is usually required to pay fees at the time of the loan's closing. In the case of private lending, whether it be unsecured or secured using a tangible asset such as your home as collateral, there are almost always fees that must be paid at the time the loan is assigned. In some cases, these fees will be rolled into the new loan agreement and won't require out of pocket payment. In the case of government debt consolidation of students loans, no such fees are required nor would they be rolled into the new consolidated loan.
Government debt consolidation of student loans is beneficial to the borrower by helping to protect their credit rating. However, it should be noted that not all federal student loan holders report their account to all the credit bureaus, so there may be no material impact on the borrower's report or rating.
So if you happen to be carrying a number of student loans and you're looking to the government to help, make sure you investigate the possibility of government debt consolidation through a student loan refinancing program. In the long run you may find that turning to the provisions provided by the federal student loan program may work in your favor.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Generally speaking, there simply aren't many government-sponsored programs to help the average citizen who is having problems managing their growing debts. When speaking of debt consolidation programs, many people immediately think of loans which are arranged as a means to bring several outstanding loan balances together into a single debt. While such consolidation loans may be available, other repayment programs work by an agency or intermediary acting on behalf of the borrower to negotiate more favorable loan terms with their lenders. Most often these are not directly sponsored by the government. There is one area, however, where government debt consolidation programs may be able to help: student loans.
In the United States, federal student loans are guaranteed by the U.S. government, and therefore are treated differently than other sorts of consumer loans. If you're looking for government debt consolidation of your federally guaranteed student loans, you can look into one of the many student loan consolidation programs available. Under such plans, your existing student loans may be purchased and closed by a special student loan consolidator, or by the U.S. Department of Education.
Before you consider a government debt consolidation agreement, make certain you understand that student loan consolidation should not require the payment of any fees by the borrower. This is decidedly different than private lending arrangements where the borrower is usually required to pay fees at the time of the loan's closing. In the case of private lending, whether it be unsecured or secured using a tangible asset such as your home as collateral, there are almost always fees that must be paid at the time the loan is assigned. In some cases, these fees will be rolled into the new loan agreement and won't require out of pocket payment. In the case of government debt consolidation of students loans, no such fees are required nor would they be rolled into the new consolidated loan.
Government debt consolidation of student loans is beneficial to the borrower by helping to protect their credit rating. However, it should be noted that not all federal student loan holders report their account to all the credit bureaus, so there may be no material impact on the borrower's report or rating.
So if you happen to be carrying a number of student loans and you're looking to the government to help, make sure you investigate the possibility of government debt consolidation through a student loan refinancing program. In the long run you may find that turning to the provisions provided by the federal student loan program may work in your favor.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Understanding Three Types Of Credit Card Debt Help
When it comes to credit cards you've got to be very careful. Because credit cards are so convenient and so widely accepted, getting yourself into trouble and over your head can quickly become a problem, even for the most cautious consumers. In no time you can easily find yourself in need of credit card debt help. If that's your situation there are a number of options available to you, so let's take a few moments to get an idea of exactly what types of credit card debt help might be best for you.
Credit Card Balance Transfers
You may find that a credit card company offers you a credit card at a lower annual percentage rate than other cards you already have with existing balances. For example, you may have two cards with interest rates of 17.5 percent and 19 percent, and each may have a balance of $1,200. A new card offer might give you the considerably lower rate of 12 percent, so transferring your $2,400 in balances to the new, lower-rate card would make sense. However, you should make certain that the new rate is not only a short-term promotional rate. In many cases, these low rates have an expiration date at which time the rate will increase. If you seek credit card debt help through the balance transfer option, make certain you know when the promotional rate expires and what the subsequent long term rate will be.
Debt Consolidation Loans
Many people think that a debt consolidation loan is the best way to get long term credit card debt help, but that isn't necessarily the case. There are a number of issues to be concerned about when considering a debt consolidation loan. In many cases a loan might significantly reduce your overall monthly payment, perhaps even to as little as half of what you're currently paying, but this reduction in monthly payment can come at a price -- a higher overall annual interest rate. How can a loan at a higher rate reduce your monthly payment? By stretching out the payments over a much longer period of time. In the end, you actually pay much more in total payments than if you'd have simply stuck with your credit cards.
Credit Counseling Agencies
If you seek credit card debt help through a credit counseling company, they will work directly with your creditors to reduce your interest rates and, in some cases, your actual principal balance. Rather than pay off your credit card companies completely, the agency will collect your payment and distribute the funds to the lenders under an agreement that they negotiate. For their service, the agency will receive a fee, either from the consumer or from the creditors. Either way, using credit counseling for credit card debt can keep your accounts in good standing with your credit card companies while reducing the total amount you have to pay each month.
If you're in need of credit card debt help, consider the advantages of disadvantages of three common solutions: credit card balance transfers, debt consolidation loans, or credit counseling agencies.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Credit Card Balance Transfers
You may find that a credit card company offers you a credit card at a lower annual percentage rate than other cards you already have with existing balances. For example, you may have two cards with interest rates of 17.5 percent and 19 percent, and each may have a balance of $1,200. A new card offer might give you the considerably lower rate of 12 percent, so transferring your $2,400 in balances to the new, lower-rate card would make sense. However, you should make certain that the new rate is not only a short-term promotional rate. In many cases, these low rates have an expiration date at which time the rate will increase. If you seek credit card debt help through the balance transfer option, make certain you know when the promotional rate expires and what the subsequent long term rate will be.
Debt Consolidation Loans
Many people think that a debt consolidation loan is the best way to get long term credit card debt help, but that isn't necessarily the case. There are a number of issues to be concerned about when considering a debt consolidation loan. In many cases a loan might significantly reduce your overall monthly payment, perhaps even to as little as half of what you're currently paying, but this reduction in monthly payment can come at a price -- a higher overall annual interest rate. How can a loan at a higher rate reduce your monthly payment? By stretching out the payments over a much longer period of time. In the end, you actually pay much more in total payments than if you'd have simply stuck with your credit cards.
Credit Counseling Agencies
If you seek credit card debt help through a credit counseling company, they will work directly with your creditors to reduce your interest rates and, in some cases, your actual principal balance. Rather than pay off your credit card companies completely, the agency will collect your payment and distribute the funds to the lenders under an agreement that they negotiate. For their service, the agency will receive a fee, either from the consumer or from the creditors. Either way, using credit counseling for credit card debt can keep your accounts in good standing with your credit card companies while reducing the total amount you have to pay each month.
If you're in need of credit card debt help, consider the advantages of disadvantages of three common solutions: credit card balance transfers, debt consolidation loans, or credit counseling agencies.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Financial Relief And The Unsecured Debt Consolidation Loan
When financial conditions begin to get tough and you find yourself facing difficulty making your payments, you may need to turn to a debt consolidation arrangement in order to ensure that you don't drown in a sea of late payments and bad debt. Such loans are available, and you may have to decide between an unsecured debt consolidation loan and a loan that is secured by equity in a major asset you own, such as your home or a late model vehicle. Whichever you choose, you should take care to ensure that you have a complete understanding of your agreements and responsibilities.
"We're seeing more and more people looking at an unsecured debt consolidation loan as a way to help them find a solution to their financial difficulties," says business writer and financial analyst Carl Walins. "A restructuring of your debt using a loan may be a good choice, but consider the differences between an unsecured debt consolidation loan and one that is secured with something of value, such as the equity in your home. You may find that the loan parameters vary widely, even from the same lender, depending on whether or not you choose a secured or an unsecured debt consolidation loan".
Walins warns consumers to read their loan agreements carefully before signing off on a debt consolidation loan. While stress over making your monthly payments may make you eager to close your loan and to ease the burden of your debts, it is imperative that you have a complete understanding of all of the terms surrounding your secured or unsecured debt consolidation loan. There may be conditions that affect your interest rate or fees that could be incurred if you should not comply with the precise requirements of the agreement. For instance, you may be subject to fees for pre-payment or early payoff of your loan balance. In such cases, it would be imprudent for you to pay off your secured or unsecured debt consolidation loan early and incur a penalty that could be greater than the amount of interest accrued on a monthly basis.
"Whenever you enter into a financial agreement you should always take care to read and understand the details of your contract before you sign it," Walins reminds us. "If you have access to a financial advisor or an attorney, you may want to ask them to review the documents before you sign in order to make sure there are no hidden 'gotchas' that could come back to haunt you later".
Whether you choose a secured or unsecured debt consolidation loan as a vehicle to help you reduce your monthly financial burden, you should take great care to make certain you have a complete understanding of the terms of your loan before you sign the documents.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
"We're seeing more and more people looking at an unsecured debt consolidation loan as a way to help them find a solution to their financial difficulties," says business writer and financial analyst Carl Walins. "A restructuring of your debt using a loan may be a good choice, but consider the differences between an unsecured debt consolidation loan and one that is secured with something of value, such as the equity in your home. You may find that the loan parameters vary widely, even from the same lender, depending on whether or not you choose a secured or an unsecured debt consolidation loan".
Walins warns consumers to read their loan agreements carefully before signing off on a debt consolidation loan. While stress over making your monthly payments may make you eager to close your loan and to ease the burden of your debts, it is imperative that you have a complete understanding of all of the terms surrounding your secured or unsecured debt consolidation loan. There may be conditions that affect your interest rate or fees that could be incurred if you should not comply with the precise requirements of the agreement. For instance, you may be subject to fees for pre-payment or early payoff of your loan balance. In such cases, it would be imprudent for you to pay off your secured or unsecured debt consolidation loan early and incur a penalty that could be greater than the amount of interest accrued on a monthly basis.
"Whenever you enter into a financial agreement you should always take care to read and understand the details of your contract before you sign it," Walins reminds us. "If you have access to a financial advisor or an attorney, you may want to ask them to review the documents before you sign in order to make sure there are no hidden 'gotchas' that could come back to haunt you later".
Whether you choose a secured or unsecured debt consolidation loan as a vehicle to help you reduce your monthly financial burden, you should take great care to make certain you have a complete understanding of the terms of your loan before you sign the documents.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Help Me I Need To Consolidate My Debt
No matter how well you plan, at times you can find yourself the victim of unfortunate financial circumstances. Whether it be the economy or some other financial hardship, at some point you may look for a way to ease your monthly payment burden. It may lead you to wonder: should I consolidate my debt? And if I decide to consolidate my debt, how can I do so in a way that is safe, affordable, and beneficial to me in the long run? While the financial landscape may appear to be daunting at first, the answers to your debt consolidation questions and concerns can be fairly straightforward.
"When someone comes to me and says 'I need help to consolidate my debt' I first ask them to fill out a financial profile that lists all of their monthly payments, the balances they owe, and the interest rates they're paying on each loan or credit card," says financial advisor and business writer Carl Walins. "Then when they've got all the information laid out on paper, we can begin to prioritize their debt. We look for opportunities to quickly pay off small loans with high interest rates and to consolidate larger loans or cards into a single credit card or loan that offers a lower rate".
For example, Walins says when you ask yourself "should I consolidate my debt?" you should look at your credit cards immediately, since these traditionally carry the highest annual percentage rates. First determine whether or not you have the opportunity to reduce your APR by combining the balances of several higher-rate cards onto a single, lower-rate card. If you have three credit cards with a balance of $1,000 and rates of 17.5 percent, 18 percent and 20 percent, you might consider transferring those balances to a single card that has an interest rate of 14 percent. Clearly you will save a significant amount of money in annual interest payments by moving to the lower-rate card -- provided that the 14 percent rate isn't a short-term "teaser" that will expire and shoot up to a much higher rate before you pay off the balances.
Walins also advises that you may consider a debt consolidation loan in order to pay off higher-interest debt. He says that lenders may offer you a much lower rate based on your credit history, and if so you may consider taking one loan to pay off several other outstanding amounts that bear a higher interest rate. Using the credit card examples, you may find that you can get a $3,000 unsecured personal loan at a rate of 11.5%. Securing that loan would allow you to payoff the high-interest credit cards and reduce your monthly payment burden.
But Walins warns about one of of the pitfalls of debt consolidation. "When someone comes to me and says 'please help me consolidate my debt' and we are able to pay off those high-interest cards, I tell them to cut up all but one of those cards and to save it for emergency use only. Those credit cards with zero balances can be a temptation that you just don't want to fall victim to".
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
"When someone comes to me and says 'I need help to consolidate my debt' I first ask them to fill out a financial profile that lists all of their monthly payments, the balances they owe, and the interest rates they're paying on each loan or credit card," says financial advisor and business writer Carl Walins. "Then when they've got all the information laid out on paper, we can begin to prioritize their debt. We look for opportunities to quickly pay off small loans with high interest rates and to consolidate larger loans or cards into a single credit card or loan that offers a lower rate".
For example, Walins says when you ask yourself "should I consolidate my debt?" you should look at your credit cards immediately, since these traditionally carry the highest annual percentage rates. First determine whether or not you have the opportunity to reduce your APR by combining the balances of several higher-rate cards onto a single, lower-rate card. If you have three credit cards with a balance of $1,000 and rates of 17.5 percent, 18 percent and 20 percent, you might consider transferring those balances to a single card that has an interest rate of 14 percent. Clearly you will save a significant amount of money in annual interest payments by moving to the lower-rate card -- provided that the 14 percent rate isn't a short-term "teaser" that will expire and shoot up to a much higher rate before you pay off the balances.
Walins also advises that you may consider a debt consolidation loan in order to pay off higher-interest debt. He says that lenders may offer you a much lower rate based on your credit history, and if so you may consider taking one loan to pay off several other outstanding amounts that bear a higher interest rate. Using the credit card examples, you may find that you can get a $3,000 unsecured personal loan at a rate of 11.5%. Securing that loan would allow you to payoff the high-interest credit cards and reduce your monthly payment burden.
But Walins warns about one of of the pitfalls of debt consolidation. "When someone comes to me and says 'please help me consolidate my debt' and we are able to pay off those high-interest cards, I tell them to cut up all but one of those cards and to save it for emergency use only. Those credit cards with zero balances can be a temptation that you just don't want to fall victim to".
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
The Secrets Of How To Consolidate Debt
If you find yourself facing a mountain of monthly payments and see your outstanding loan balances hovering at the exact same amount for months or even years, you may be wondering how to consolidate debt in a way that protects your credit score, that lowers your payments, and still allows you to pay off your debts in a reasonable about of time. While there is no one "best" way to consolidate your financial obligations, there are likely several options available to you. Financial advisor and business analyst Carl Walins tells us that a consolidation loan, probably the most commonly thought of form of debt consolidation, isn't the only method to bringing loans together under a single payment umbrella.
"People wondering how to consolidate debt probably think of a consolidation loan first, but in reality there are a number of ways that you can consolidate your debt," Walins says. "For instance, one effective way to lump your loans together and lower your monthly payments and interest is to work with a credit counseling agency. In most cases, these agencies can work with your creditors to lower your interest and payments, while preserving your credit score and without the need to extend yourself with another loan".
Another debt consolidation method is to transfer high-rate credit cards to a lower-rate card. However, consumers should be careful to make sure they understand the parameters of the new, low rate credit card offer. "In many cases, that low rate is just a teaser to get your business and after the promotional period ends, your interest rate can skyrocket," Walins warns. "Beware of the fine print in the credit card agreement, and make sure you know exactly when the promotional rate ends".
So if you want to know how to consolidate debt and you think a new loan might be the best way for you, how can you make sure that you won't be gouged? Walins tells us to consider using equity in your home before taking on an unsecured loan. "In many cases you'll find that when considering how to consolidate debt, a home equity loan will provide a lower interest rate than an unsecured loan, since the lender is exposing themselves to less risk," Walins states. "Compare the rates of a home equity loan to a signature loan from the same lender before you decide which would be best for you. I would wager that in most cases, the home equity loan will be the cheaper loan overall".
In the end, Walins says that when advising others on how to consolidate debt, his best advice is to ask for help if you don't understand the many consolidation options available to you.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
"People wondering how to consolidate debt probably think of a consolidation loan first, but in reality there are a number of ways that you can consolidate your debt," Walins says. "For instance, one effective way to lump your loans together and lower your monthly payments and interest is to work with a credit counseling agency. In most cases, these agencies can work with your creditors to lower your interest and payments, while preserving your credit score and without the need to extend yourself with another loan".
Another debt consolidation method is to transfer high-rate credit cards to a lower-rate card. However, consumers should be careful to make sure they understand the parameters of the new, low rate credit card offer. "In many cases, that low rate is just a teaser to get your business and after the promotional period ends, your interest rate can skyrocket," Walins warns. "Beware of the fine print in the credit card agreement, and make sure you know exactly when the promotional rate ends".
So if you want to know how to consolidate debt and you think a new loan might be the best way for you, how can you make sure that you won't be gouged? Walins tells us to consider using equity in your home before taking on an unsecured loan. "In many cases you'll find that when considering how to consolidate debt, a home equity loan will provide a lower interest rate than an unsecured loan, since the lender is exposing themselves to less risk," Walins states. "Compare the rates of a home equity loan to a signature loan from the same lender before you decide which would be best for you. I would wager that in most cases, the home equity loan will be the cheaper loan overall".
In the end, Walins says that when advising others on how to consolidate debt, his best advice is to ask for help if you don't understand the many consolidation options available to you.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Debt Consolidation Loans For Bad Credit Dont Get Stung
It isn't uncommon these days for consumers to be facing problems meeting their monthly payment obligations on loans and credit cards. Economic changes the world over have affected millions, and some people who were previously fortunate enough to have built a good credit history have now fallen behind in their payments and have seen their good credit ratings suffer because of it. At this point they may be looking for a way to rescue themselves from being dragged further under, and because they've been hit with some negative credit feedback, they feel like there's no way they can find a debt consolidation loan that will help. Well, despite their worries, debt consolidation loans for bad credit are available, all it takes is being a smart consumer and finding the right lender.
When you start shopping for debt consolidation loans for bad credit situations, you're likely to find dozens of potential resources who claim they'll be able to help you get your finances back on track. No doubt there are many legitimate lenders out there who are willing to work with someone who has run into a bad patch and find their credit rating slipping, but you may also run into some unscrupulous types who may try to take advantage of what they believe is a desperate situation. Just because you may be shopping for debt consolidation loans for bad credit conditions doesn't mean you deserve to be taken advantage of. Keep these two things in mind to protect yourself from becoming a victim:
Be Confident
Your credit score may have fallen recently, but so have the credit scores of many others due to tougher economic conditions. When shopping for debt consolidation loans for bad credit problems, don't let a potential lender scare you into a bad loan because they want you to believe that you have no alternatives. There are still numerous lenders willing to work with people who have credit problems. If you're patient, you'll find that there are plenty of fish in the sea.
Check the Terms
Many lenders will want to talk to you only about your payment amount and not about the complete terms of the loan -- until it comes time to sign the paperwork. In some cases, lenders who like to specialize in debt consolidation loans for bad credit will put you into a loan that may leave you worse off than before. They do this by charging you an outrageous interest rate, higher than you're already paying, by stretching the payments out over a longer term and then selling you on the idea of the lower monthly payment. While this sounds good on the surface, run the numbers yourself and see exactly how much more you're going to pay for the privilege of lowering your monthly payment a few dollars.
Remember, there are good lenders out there offering debt consolidation loans for bad credit, so shop around and find one that is interested in dealing with you fairly and has your long-term financial health in mind.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
When you start shopping for debt consolidation loans for bad credit situations, you're likely to find dozens of potential resources who claim they'll be able to help you get your finances back on track. No doubt there are many legitimate lenders out there who are willing to work with someone who has run into a bad patch and find their credit rating slipping, but you may also run into some unscrupulous types who may try to take advantage of what they believe is a desperate situation. Just because you may be shopping for debt consolidation loans for bad credit conditions doesn't mean you deserve to be taken advantage of. Keep these two things in mind to protect yourself from becoming a victim:
Be Confident
Your credit score may have fallen recently, but so have the credit scores of many others due to tougher economic conditions. When shopping for debt consolidation loans for bad credit problems, don't let a potential lender scare you into a bad loan because they want you to believe that you have no alternatives. There are still numerous lenders willing to work with people who have credit problems. If you're patient, you'll find that there are plenty of fish in the sea.
Check the Terms
Many lenders will want to talk to you only about your payment amount and not about the complete terms of the loan -- until it comes time to sign the paperwork. In some cases, lenders who like to specialize in debt consolidation loans for bad credit will put you into a loan that may leave you worse off than before. They do this by charging you an outrageous interest rate, higher than you're already paying, by stretching the payments out over a longer term and then selling you on the idea of the lower monthly payment. While this sounds good on the surface, run the numbers yourself and see exactly how much more you're going to pay for the privilege of lowering your monthly payment a few dollars.
Remember, there are good lenders out there offering debt consolidation loans for bad credit, so shop around and find one that is interested in dealing with you fairly and has your long-term financial health in mind.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Dont Be Afraid Of Unsecured Debt Consolidation
It's a fact that financial problems can sneak up on anyone. No matter how well you plan, at some point you may face the prospect of failing to meet your monthly bills due to unforeseen circumstances. That's when a debt consolidation loan can be a lifesaver. Such a loan can help you meet your financial obligations and keep your good credit rating safe. For some, a consolidation loan is as easy as accessing the equity in their home or securing a loan with a vehicle that they own outright. For others, however, equity can be lacking and in that case they would have to try and find an unsecured debt consolidation option.
Unsecured debt consolidation loans do have an advantage over secured loans, and that is that none of your significant assets are encumbered by a lien. Unsecured means, of course, that you are taking a loan based solely on your good credit and payment history, using only your signature and agreement to pay as the basis of the agreement. While an unsecured debt consolidation loan does not encumber your assets, it also can carry a higher interest rate since the lender is agreeing to provide you funds without having any tangible assets to protect their monies. In essence, the lender is taking a chance on you and your good history, and in exchange you may find that you'll pay a higher rate.
Whether you choose a secured or unsecured debt consolidation plan, the key to successful debt consolidation is to carefully plan which obligations you will pay off with your loan proceeds. A good way to ensure that you make a wise decision is to list all of your creditors, along with the total outstanding debt, the monthly payment amount, and the annual percentage interest rate you are paying on each balance. Then, prioritize the loans in order of annual percentage rate. Use this information when you going shopping for a loan, and try to find a consolidation option that will allow you to pay off a number of higher-rate debts with the new, lower-rate funds you've been able to acquire.
And one important piece of advice: once you've paid off your outstanding obligations and reworked your debts using either a secured or unsecured debt consolidation loan, make sure you think about possibly closing out any paid off open lines of credit, cutting up unnecessary high-rate credit cards (or at least locking them up where they can't be so easily misused). Discipline is critical to ensure that you don't end up running up another long list of debts now that you've managed to consolidate some of the more costly loans into a lower-priced position that's easier to pay. Don't get caught up in the temptation to use those now conveniently low-balance credit lines.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Unsecured debt consolidation loans do have an advantage over secured loans, and that is that none of your significant assets are encumbered by a lien. Unsecured means, of course, that you are taking a loan based solely on your good credit and payment history, using only your signature and agreement to pay as the basis of the agreement. While an unsecured debt consolidation loan does not encumber your assets, it also can carry a higher interest rate since the lender is agreeing to provide you funds without having any tangible assets to protect their monies. In essence, the lender is taking a chance on you and your good history, and in exchange you may find that you'll pay a higher rate.
Whether you choose a secured or unsecured debt consolidation plan, the key to successful debt consolidation is to carefully plan which obligations you will pay off with your loan proceeds. A good way to ensure that you make a wise decision is to list all of your creditors, along with the total outstanding debt, the monthly payment amount, and the annual percentage interest rate you are paying on each balance. Then, prioritize the loans in order of annual percentage rate. Use this information when you going shopping for a loan, and try to find a consolidation option that will allow you to pay off a number of higher-rate debts with the new, lower-rate funds you've been able to acquire.
And one important piece of advice: once you've paid off your outstanding obligations and reworked your debts using either a secured or unsecured debt consolidation loan, make sure you think about possibly closing out any paid off open lines of credit, cutting up unnecessary high-rate credit cards (or at least locking them up where they can't be so easily misused). Discipline is critical to ensure that you don't end up running up another long list of debts now that you've managed to consolidate some of the more costly loans into a lower-priced position that's easier to pay. Don't get caught up in the temptation to use those now conveniently low-balance credit lines.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve to ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Monday, June 13, 2011
The Insider Secrets Of Bad Credit Debt Consolidation
What shape is your credit in? Are you floundering and finding it difficult to keep up with even your minimum monthly payments? If your credit score has dropped over the past months due to falling behind on your payments to your creditors, you may be in need of a bad credit debt consolidation plan. In simple terms, you may find that you can relieve some of your monthly payment burden by consolidating several high rate loans or credit cards into a single loan or card at a lower annual rate.
How does it work? Simply stated, you might be able to combine a number of loans or credit cards which carry a high rate into a loan or credit card that is available at a lower annual percentage. This sort of debt consolidation is often done when a consumer receives a credit card promotion offering them a rate that is lower than their existing cards, provided they transfer balances to the new card. This can be a quick and easy way to reduce the annual rate on outstanding balances and lessen the minimum monthly payments as well. However, before you combine all of those credit card balances onto a new card with a lower APR, make sure you read all of the fine print and understand exactly what you can expect to pay on the new, combined balance.
Of course, if your credit score has slipped you may find it difficult to locate a lower interest rate on a credit card. For some with bad credit debt consolidation may seem like a solution to their financial worries, but for them, finding a lender or credit card issuer who will help them lower their interest rates may seem impossible. While in the past only those with the most flawless credit could command the best rates, scanning the lending marketplace today tells us that there are lenders available for just about everyone, and even those who suffer from a very low credit score should be able to find a bad credit debt consolidation loan. Due to problems in the economy, today there are plenty of consumers who have less-than-perfect credit, and many lenders willing to service their needs.
And finally, here's a little "secret" to bad credit debt consolidation that often goes overlooked: don't forget the equity you may have in a vehicle. While most people think of equity in a home, if you have a vehicle with low miles and a low payoff balance, you may find that you can get a used auto loan at a rate that is far lower than the rates you're paying on your credit cards. In some cases, these auto loan rates can be had for even half the interest rate of your highest rate cards. If you're looking for a bad credit debt consolidation option, a vehicle may help you drive your way to your financial goals.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
How does it work? Simply stated, you might be able to combine a number of loans or credit cards which carry a high rate into a loan or credit card that is available at a lower annual percentage. This sort of debt consolidation is often done when a consumer receives a credit card promotion offering them a rate that is lower than their existing cards, provided they transfer balances to the new card. This can be a quick and easy way to reduce the annual rate on outstanding balances and lessen the minimum monthly payments as well. However, before you combine all of those credit card balances onto a new card with a lower APR, make sure you read all of the fine print and understand exactly what you can expect to pay on the new, combined balance.
Of course, if your credit score has slipped you may find it difficult to locate a lower interest rate on a credit card. For some with bad credit debt consolidation may seem like a solution to their financial worries, but for them, finding a lender or credit card issuer who will help them lower their interest rates may seem impossible. While in the past only those with the most flawless credit could command the best rates, scanning the lending marketplace today tells us that there are lenders available for just about everyone, and even those who suffer from a very low credit score should be able to find a bad credit debt consolidation loan. Due to problems in the economy, today there are plenty of consumers who have less-than-perfect credit, and many lenders willing to service their needs.
And finally, here's a little "secret" to bad credit debt consolidation that often goes overlooked: don't forget the equity you may have in a vehicle. While most people think of equity in a home, if you have a vehicle with low miles and a low payoff balance, you may find that you can get a used auto loan at a rate that is far lower than the rates you're paying on your credit cards. In some cases, these auto loan rates can be had for even half the interest rate of your highest rate cards. If you're looking for a bad credit debt consolidation option, a vehicle may help you drive your way to your financial goals.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
What Is The Best Debt Consolidation Option
If you think you need help with your debts, you may consider debt consolidation as a way to help you meet your financial obligations. But there are a number of ways you can consolidate your debt, so you may wonder what is the best debt consolidation plan for you. Well, the answer really depends on your own personal circumstances. So to help you decide, let's take a closer look at some of the best debt consolidation options.
Debt consolidation is simply taking a number of outstanding loans and combining them into one single monthly payment. You can do this with personal loans, credit cards, or other types of debts you may have incurred. In some cases, the best debt consolidation method may be to actually close out several loans by creating a new loan that will pay off each of those balances. In other cases, you may want to work with an agency that will keep the original loans open and will work with your creditors to change the terms of your loans so that you will be better able to pay.
Some believe that the best debt consolidation method is to combine your various debts into a single obligation. Using this method, you would take several debts and seek a new loan that would be enough to pay off each of the individual balances, which would leave you with just one payment rather than multiple payments. The object of this sort of consolidation is to find a loan at a lower rate than the combined APR of the individual obligations you're seeking to pay off. Some borrowers find that the equity in their home is a good place to start. By securing a home equity loan, they are able to reduce their monthly payments by both extending the pay back term as well as lowering the overall interest rate.
Another popular method for debt consolidation is taking advantage of a low rate credit card to transfer balances from other high rate cards. Some feel that when your aim is to reduce your credit card payments, moving balances from several cards to a single card is the best debt consolidation method to choose. However, there may be some hidden traps you have to look out for. In many cases, the low rate credit card offer is only an introductory rate, and the low percentage may increase at some time in the future. There may also be fees for transferring the balances from your existing cards to the new credit card, so make sure you ask your card company about such fees before you decide if this is the best debt consolidation method for you.
Finally, you may consider working with a specialized agency that is designed to help you reduce your monthly payments. Most often, these agencies don't actually combine your debts into a single loan, but instead they work with your creditors to lower your interest rates and payments while at the same time protecting your credit score. Some feel this may be the best debt consolidation option, since the agency works with your existing creditors rather than creating a new debt.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Debt consolidation is simply taking a number of outstanding loans and combining them into one single monthly payment. You can do this with personal loans, credit cards, or other types of debts you may have incurred. In some cases, the best debt consolidation method may be to actually close out several loans by creating a new loan that will pay off each of those balances. In other cases, you may want to work with an agency that will keep the original loans open and will work with your creditors to change the terms of your loans so that you will be better able to pay.
Some believe that the best debt consolidation method is to combine your various debts into a single obligation. Using this method, you would take several debts and seek a new loan that would be enough to pay off each of the individual balances, which would leave you with just one payment rather than multiple payments. The object of this sort of consolidation is to find a loan at a lower rate than the combined APR of the individual obligations you're seeking to pay off. Some borrowers find that the equity in their home is a good place to start. By securing a home equity loan, they are able to reduce their monthly payments by both extending the pay back term as well as lowering the overall interest rate.
Another popular method for debt consolidation is taking advantage of a low rate credit card to transfer balances from other high rate cards. Some feel that when your aim is to reduce your credit card payments, moving balances from several cards to a single card is the best debt consolidation method to choose. However, there may be some hidden traps you have to look out for. In many cases, the low rate credit card offer is only an introductory rate, and the low percentage may increase at some time in the future. There may also be fees for transferring the balances from your existing cards to the new credit card, so make sure you ask your card company about such fees before you decide if this is the best debt consolidation method for you.
Finally, you may consider working with a specialized agency that is designed to help you reduce your monthly payments. Most often, these agencies don't actually combine your debts into a single loan, but instead they work with your creditors to lower your interest rates and payments while at the same time protecting your credit score. Some feel this may be the best debt consolidation option, since the agency works with your existing creditors rather than creating a new debt.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Friday, June 10, 2011
The Three Keys To Debt Consolidation Help
Debt consolidation help comes in many forms these days, and you may find that you have so many debt consolidation options that you have no idea which way to turn. The entire personal finance industry can be a confusing and intimidating arena, especially for those who have very little experience or knowledge of loans and lending choices. You may want to turn to a financial advisor for help in sorting out your personal finances. But if you've decided that you want to consolidate your debts and are actively looking for debt consolidation help, here are three important things to keep in mind:
1) Beware of consolidation loans that provide lower payments but higher interest rates than you're currently paying. Some companies providing loans for debt consolidation help you by lowering your monthly payments, but charge you a higher overall interest rate than your existing loans or credit cards, and then stretch your payments over a long period of time. When all is said and done, if you add up the total payments over the life of the loan, you'll find that you will end up paying twice as much -- or more -- than if you'd found another way to pay down those existing loans.
3) Be careful when transferring credit card balances. These days many credit card companies offer debt consolidation help through the means of a balance transfer option. Essentially, the card company offers you a lower rate provided you transfer balances from other higher-rate credit cards to your new account. While the rate may be initially lower, you should find out if that low APR is only a short-term rate designed to entice you to move your money. In some cases those initial rates expire just a few months down the line and then later balloon unexpectedly.
3) Try and find a secured loan. If you need debt consolidation help you may find that your best friend is your home. A home equity loan provides an attractive alternative to unsecured, high-rate loans that stretch out your payments over years but, in the end, cost you more money. Home equity loans almost always offer lower interest rates than other types of loans which are granted with no collateral, because the lender is accepting less risk. Oh, and when it comes to equity, don't forget your car. If you have a later model vehicle that has a low remaining loan balance or is paid off completely, you may consider asking for debt consolidation help through auto refinancing. In most cases, a loan secured by a vehicle will also offer a lower rate than other types of unsecured loans.
Debt consolidation help is available in today's financial world, but before you jump in, remember to think carefully. You should beware long-term high rate consolidation loans, be wary when approached with an offer for low-rate credit card balance transfers, and consider the possibility of using equity in your home or vehicle.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
1) Beware of consolidation loans that provide lower payments but higher interest rates than you're currently paying. Some companies providing loans for debt consolidation help you by lowering your monthly payments, but charge you a higher overall interest rate than your existing loans or credit cards, and then stretch your payments over a long period of time. When all is said and done, if you add up the total payments over the life of the loan, you'll find that you will end up paying twice as much -- or more -- than if you'd found another way to pay down those existing loans.
3) Be careful when transferring credit card balances. These days many credit card companies offer debt consolidation help through the means of a balance transfer option. Essentially, the card company offers you a lower rate provided you transfer balances from other higher-rate credit cards to your new account. While the rate may be initially lower, you should find out if that low APR is only a short-term rate designed to entice you to move your money. In some cases those initial rates expire just a few months down the line and then later balloon unexpectedly.
3) Try and find a secured loan. If you need debt consolidation help you may find that your best friend is your home. A home equity loan provides an attractive alternative to unsecured, high-rate loans that stretch out your payments over years but, in the end, cost you more money. Home equity loans almost always offer lower interest rates than other types of loans which are granted with no collateral, because the lender is accepting less risk. Oh, and when it comes to equity, don't forget your car. If you have a later model vehicle that has a low remaining loan balance or is paid off completely, you may consider asking for debt consolidation help through auto refinancing. In most cases, a loan secured by a vehicle will also offer a lower rate than other types of unsecured loans.
Debt consolidation help is available in today's financial world, but before you jump in, remember to think carefully. You should beware long-term high rate consolidation loans, be wary when approached with an offer for low-rate credit card balance transfers, and consider the possibility of using equity in your home or vehicle.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Thursday, June 9, 2011
The Advantages Of Non Profit Debt Consolidation
These days, credit problems can affect anyone. With economic issues becoming a problem for more and more consumers, effectively managing your debt can be a challenge. If you are having difficulties in handling your monthly payments, you may consider a debt consolidation arrangement one good way to help you get back on track. Through a debt consolidation arrangement, you can lower your total monthly payment and, in some cases, reduce the total amount that you owe. If you're looking for a debt consolidation, there are quite a wide variety of options available to you, and among those are both for-profit companies and non profit debt consolidation agencies.
It is important that you understand that this type of debt consolidation is completely different from a debt consolidation loan. Whether it be a for-profit or a non profit debt consolidation agency, you should not expect these sorts of consolidators to provide you with a loan to pay off existing balances. In some cases, a debt consolidation loan can actually put you in a worse financial situation, because rather than reduce your obligation and lower your interest rates, some of these loans actually have a higher rate but can reduce your payments by extending the payment period for many months or years. Instead of a loan, these sorts of companies will represent you to the creditors and work out an arrangement through which they will agree to lower your interest rate and your payments, while possibly reducing the total amount that you owe and, if all goes well, keeping your credit score from being negatively affected.
Many consumers prefer to use a non profit debt consolidation agency to manage their debt consolidation. Whether you choose a for-profit or a non profit debt consolidation firm to help you get your financial affairs in order, you should make sure you understand how the agency will be handling your debts and payments. In virtually every case, a debt management company will collect a fee for handling your payments and for dealing with your creditors. In some cases, the fee is collected from the lenders themselves, in other cases the consumer pays the fee directly to the debt consolidation company. Because non profit debt consolidation agencies aren't in business to provide dividends to stockholders, their services are sometimes less costly than those of agencies who operate for profit.
Once you've decided on a debt consolidation company to handle your debts, whether it be a for-profit or a non profit debt consolidation group, you should expect to receive a debt reduction plan that explains how your debts and payments will be structured and over what period of time you can expect your accounts to be paid off. In this way, you can see exactly how your debts are becoming more manageable each and every month.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
It is important that you understand that this type of debt consolidation is completely different from a debt consolidation loan. Whether it be a for-profit or a non profit debt consolidation agency, you should not expect these sorts of consolidators to provide you with a loan to pay off existing balances. In some cases, a debt consolidation loan can actually put you in a worse financial situation, because rather than reduce your obligation and lower your interest rates, some of these loans actually have a higher rate but can reduce your payments by extending the payment period for many months or years. Instead of a loan, these sorts of companies will represent you to the creditors and work out an arrangement through which they will agree to lower your interest rate and your payments, while possibly reducing the total amount that you owe and, if all goes well, keeping your credit score from being negatively affected.
Many consumers prefer to use a non profit debt consolidation agency to manage their debt consolidation. Whether you choose a for-profit or a non profit debt consolidation firm to help you get your financial affairs in order, you should make sure you understand how the agency will be handling your debts and payments. In virtually every case, a debt management company will collect a fee for handling your payments and for dealing with your creditors. In some cases, the fee is collected from the lenders themselves, in other cases the consumer pays the fee directly to the debt consolidation company. Because non profit debt consolidation agencies aren't in business to provide dividends to stockholders, their services are sometimes less costly than those of agencies who operate for profit.
Once you've decided on a debt consolidation company to handle your debts, whether it be a for-profit or a non profit debt consolidation group, you should expect to receive a debt reduction plan that explains how your debts and payments will be structured and over what period of time you can expect your accounts to be paid off. In this way, you can see exactly how your debts are becoming more manageable each and every month.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
The Insider Secrets Of Debt Relief Consolidation
Debt can become overwhelming, especially in tough economic times. Studies have shown that financial burdens and the worries caused by them can have a negative effect, both physically and emotionally. If you feel like you're drowning in debt, you may be worried that you won't be able to find relief. But despite tougher financial times affecting many, there are agencies and lenders available to help you with debt relief consolidation. If you begin to seek help with your debt problem, you'll soon find that there are three primary types of debt relief consolidation: debt consolidation loans, credit card balance transfers, and credit management or counseling agencies.
In the case of a debt consolidation loan, a lender will pay off several of your debts and create a new loan for you that will come with lower monthly payments than the combined payments of the initial debts. Be careful of debt relief consolidation through a loan, because if you don't check the loan parameters carefully, you may not get exactly the type of help you're looking for. In some cases, lenders want you to focus on the monthly payment and not on the total payback amount. This is because they may be offering you a lower payment but at a substantially higher interest rate. They achieve a lower payment by stretching the payback out over a much longer period. In that case, you may find that you will end up paying far more in interest than you would have had you simply stuck with the original loans.
Credit card companies may offer you debt relief consolidation through a balance transfer arrangement. That means they'll offer you a lower rate than you already have on your other credit cards, provided you transfer the balances of those high rate cards to the new account. On the surface this looks like an easy way to save money because you're getting a lower rate, but beware: often those low rates are only for a limited period of time. These are called "promotional rates" or "teaser rates" and, several months down the road, they could climb higher than the rates you were paying on the old cards.
Finally, credit counseling agencies can offer debt relief consolidation by working directly with your creditors to make alternative arrangements for your existing debts. They will negotiate with the lenders to reduce your monthly payments, your interest rate, and sometimes even the total amount you owe. In this case, you make one payment per month to the agency, who then pays out the individual payments to your creditors. If you choose a credit counseling agency for debt relief consolidation, note that most have a fee for their services. In some cases the consumer pays the fee, in others, the lenders pay it.
Don't become so overwhelmed with your debt situation that it interferes with your physical and emotional well being. Before that happens, seek out debt relief consolidation through one of the three most common methods and save yourself days and weeks of worry.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
In the case of a debt consolidation loan, a lender will pay off several of your debts and create a new loan for you that will come with lower monthly payments than the combined payments of the initial debts. Be careful of debt relief consolidation through a loan, because if you don't check the loan parameters carefully, you may not get exactly the type of help you're looking for. In some cases, lenders want you to focus on the monthly payment and not on the total payback amount. This is because they may be offering you a lower payment but at a substantially higher interest rate. They achieve a lower payment by stretching the payback out over a much longer period. In that case, you may find that you will end up paying far more in interest than you would have had you simply stuck with the original loans.
Credit card companies may offer you debt relief consolidation through a balance transfer arrangement. That means they'll offer you a lower rate than you already have on your other credit cards, provided you transfer the balances of those high rate cards to the new account. On the surface this looks like an easy way to save money because you're getting a lower rate, but beware: often those low rates are only for a limited period of time. These are called "promotional rates" or "teaser rates" and, several months down the road, they could climb higher than the rates you were paying on the old cards.
Finally, credit counseling agencies can offer debt relief consolidation by working directly with your creditors to make alternative arrangements for your existing debts. They will negotiate with the lenders to reduce your monthly payments, your interest rate, and sometimes even the total amount you owe. In this case, you make one payment per month to the agency, who then pays out the individual payments to your creditors. If you choose a credit counseling agency for debt relief consolidation, note that most have a fee for their services. In some cases the consumer pays the fee, in others, the lenders pay it.
Don't become so overwhelmed with your debt situation that it interferes with your physical and emotional well being. Before that happens, seek out debt relief consolidation through one of the three most common methods and save yourself days and weeks of worry.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Make Wise Decisions with a Debt Consolidation Loan Calculator
If you're facing a mountain of debt, you may consider a debt consolidation loan as a method to help ease the financial burden. However, before you consider taking any steps toward a consolidation you should first get a better understanding of how various consolidation options will affect your overall financial health. In a case like this, you should consider using a debt consolidation loan calculator to help you figure out how any financial decisions will affect your bottom line.
There are many methods to consider when seeking a debt consolidation, some of which offer advantages beyond simply allowing you to restructure your debt. Some consolidations may require you to use equity you've built up, such as equity in your home, as a method to secure the amount of debt you plan to refinance. Other consolidation loans may be offered that are unsecured, but these loans may come at a higher rate. An online debt consolidation loan calculator would certainly prove useful as you begin to play "what if" with the numbers, so you may want to take the time to find one that will help you sort out the details.
For a debt consolidation loan calculator to be beneficial in helping you decide on how to restructure your financial obligations, it must certainly contain a number of essential variables. First, such a calculator should allow you to select a payoff period that stretches from a very short term, such as twelve months, to a very long term, such as thirty years or more. A useful calculator should also allow you to adjust the interest rate and re-calculate the payoff period, as well as help you decide how much to apply to the interest and principal of your consolidated debt. In addition, a full-featured debt consolidation loan calculator may also provide detailed reports and useful graphs that make it easier to get both a detailed drill down on monthly financial condition with colorful charts that allow you to easily see how your debt is structured.
A debt consolidation loan calculator should also allow you to do a full cost analysis of a potential restructuring, and you should take care to include any fees or other amounts that will be rolled into the principal amount when you actually restructure your loans. Failing to include such additional costs will most certainly provide you with an overall picture of your future finances that is not as accurate as you would like. Don't forget that consolidating your debt is a major step that has long-term implications in your financial future, and using a debt consolidation loan calculator will allow you to make good decisions today that will pay financial dividends tomorrow.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
There are many methods to consider when seeking a debt consolidation, some of which offer advantages beyond simply allowing you to restructure your debt. Some consolidations may require you to use equity you've built up, such as equity in your home, as a method to secure the amount of debt you plan to refinance. Other consolidation loans may be offered that are unsecured, but these loans may come at a higher rate. An online debt consolidation loan calculator would certainly prove useful as you begin to play "what if" with the numbers, so you may want to take the time to find one that will help you sort out the details.
For a debt consolidation loan calculator to be beneficial in helping you decide on how to restructure your financial obligations, it must certainly contain a number of essential variables. First, such a calculator should allow you to select a payoff period that stretches from a very short term, such as twelve months, to a very long term, such as thirty years or more. A useful calculator should also allow you to adjust the interest rate and re-calculate the payoff period, as well as help you decide how much to apply to the interest and principal of your consolidated debt. In addition, a full-featured debt consolidation loan calculator may also provide detailed reports and useful graphs that make it easier to get both a detailed drill down on monthly financial condition with colorful charts that allow you to easily see how your debt is structured.
A debt consolidation loan calculator should also allow you to do a full cost analysis of a potential restructuring, and you should take care to include any fees or other amounts that will be rolled into the principal amount when you actually restructure your loans. Failing to include such additional costs will most certainly provide you with an overall picture of your future finances that is not as accurate as you would like. Don't forget that consolidating your debt is a major step that has long-term implications in your financial future, and using a debt consolidation loan calculator will allow you to make good decisions today that will pay financial dividends tomorrow.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
For Debt Consolidation Poor Credit Can Be Overcome
When looking for debt consolidation poor credit may be a big hurdle you'll have to overcome before you can get a better grip on your finances. If you're swamped in debt and behind on your loan payments, chances are you already face the problem of poor credit. While you may have once had a very good credit rating, changes in your financial situation may have led you to fall behind, and the result of that new financial hardship is that you suddenly find yourself saddled with a poor credit rating. That means finding a reasonable loan at a reasonable rate may no longer be a simple task.
You may be one of thousands who are struggling and looking for a method to get your head above water, but when searching for debt consolidation poor credit could stand in your way. If you find yourself swamped in debt and constantly struggling to make even the minimum payments, debt consolidation may be one alternative way to ease your payment burden. Consolidating several high-rate credit cards into a single, lower-rate card could possibly be an option, however if your credit rating is already suffering and you find yourself with a poor credit score, finding a lower-rate card will likely be difficult. A simple debt consolidation loan may also be available, but beware of extending yourself too far in order just to survive through a short-term rough financial patch.
When it comes to debt consolidation poor credit can easily make your situation worse, if you aren't especially careful. There are a number of legitimate ways to consolidate your debt even if your credit rating is suffering, including using equity in a home or vehicle if necessary. However, there are a number of unscrupulous types around who like to prey on those who are suffering with credit problems. These shady dealers see bad credit as an opportunity, and they know that for people looking for debt consolidation poor credit will likely shut them out with the bigger lenders. These less than honorable financiers often use what the desperation on the consumer's part as a method to steer them into a financially dangerous arrangement.
You may also be able to find an unsecured loan which will allow you to consolidate several other debts as well. However, this too can be a dangerous undertaking, so make certain that you fully understand all of the fine print of the loan agreement before you sign. One benefit of using an unsecured loan for debt consolidation is that it will have no impact on your important assets, such as your home or other valuable property.
Debt consolidation can be a helpful method to improving your financial conditions, particularly when hard times hit. However, for debt consolidation poor credit can be a big stumbling block, so make certain you consider any consolidation loan or program wisely before you sign on the dotted line.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
You may be one of thousands who are struggling and looking for a method to get your head above water, but when searching for debt consolidation poor credit could stand in your way. If you find yourself swamped in debt and constantly struggling to make even the minimum payments, debt consolidation may be one alternative way to ease your payment burden. Consolidating several high-rate credit cards into a single, lower-rate card could possibly be an option, however if your credit rating is already suffering and you find yourself with a poor credit score, finding a lower-rate card will likely be difficult. A simple debt consolidation loan may also be available, but beware of extending yourself too far in order just to survive through a short-term rough financial patch.
When it comes to debt consolidation poor credit can easily make your situation worse, if you aren't especially careful. There are a number of legitimate ways to consolidate your debt even if your credit rating is suffering, including using equity in a home or vehicle if necessary. However, there are a number of unscrupulous types around who like to prey on those who are suffering with credit problems. These shady dealers see bad credit as an opportunity, and they know that for people looking for debt consolidation poor credit will likely shut them out with the bigger lenders. These less than honorable financiers often use what the desperation on the consumer's part as a method to steer them into a financially dangerous arrangement.
You may also be able to find an unsecured loan which will allow you to consolidate several other debts as well. However, this too can be a dangerous undertaking, so make certain that you fully understand all of the fine print of the loan agreement before you sign. One benefit of using an unsecured loan for debt consolidation is that it will have no impact on your important assets, such as your home or other valuable property.
Debt consolidation can be a helpful method to improving your financial conditions, particularly when hard times hit. However, for debt consolidation poor credit can be a big stumbling block, so make certain you consider any consolidation loan or program wisely before you sign on the dotted line.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Beware Hidden Fees When You Consolidate Credit Card Debt
High interest rates can be a massive drain on your finances. If you are stuck with loans or credit cards at high rates, it can seem as though practically every cent goes to pay the interest and that the principal balance never seems to shrink. That means you may think it might be a wise move to consolidate credit card debt and reduce your annual interest rates to a figure that is more manageable. On the surface, it may seem prudent to transfer a credit card with a annual percentage rate of 16 percent to another card carrying a lower rate, such as 13 percent. But before you make the balance transfer, be sure you investigate the fine print of your contract with the lower-rate card, as you may find that there are "hidden" fees that could come back to bite you when you actually do consolidate credit card debt.
So what should you look out for?
Some credit card companies charge a "balance transfer fee" that you will have to pay when moving the balance from your higher-rate card to the new credit card. In many cases this fee is a flat rate, one time charge of $35 or $45. However, some consumers report that they've been shocked to learn that the balance transfer fee is actually a percentage of the amount transferred, some as high as four or five percent. On a $2,000 balance transfer, a five percent transfer fee will set you back $100. And don't forget when you consolidate credit card debt, these balance transfer fees are added to the new outstanding balance on the lower-rate card. That means if you don't make a payment that covers the transfer fee immediately, you'll be paying interest on top of the fee itself.
In addition, check other "hidden" fees when you consolidate credit card debt onto a lower-rate card. For instance, if you prefer to make your payments via telephone, some card companies charge a telephone payment fee. You may be shocked to find that your old card didn't require a phone payment fee, while your new card does require a fee, sometimes as high as $10.00 per transaction. That means you'll have to adjust your preferred payment method to avoid getting stung by such a charge. Your credit card company should inform you of any convenience or payment fees that will be required before you actually complete the payment. If they don't, then make sure you ask.
While we often refer to these fees as hidden, that's only because these fees may not be top of mind for the consumer when making a decision to consolidate credit card debt. You should know that the credit card companies are required to disclose fees to you before you avail yourself of their offers, so carefully consider the details and fine print before you act.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
So what should you look out for?
Some credit card companies charge a "balance transfer fee" that you will have to pay when moving the balance from your higher-rate card to the new credit card. In many cases this fee is a flat rate, one time charge of $35 or $45. However, some consumers report that they've been shocked to learn that the balance transfer fee is actually a percentage of the amount transferred, some as high as four or five percent. On a $2,000 balance transfer, a five percent transfer fee will set you back $100. And don't forget when you consolidate credit card debt, these balance transfer fees are added to the new outstanding balance on the lower-rate card. That means if you don't make a payment that covers the transfer fee immediately, you'll be paying interest on top of the fee itself.
In addition, check other "hidden" fees when you consolidate credit card debt onto a lower-rate card. For instance, if you prefer to make your payments via telephone, some card companies charge a telephone payment fee. You may be shocked to find that your old card didn't require a phone payment fee, while your new card does require a fee, sometimes as high as $10.00 per transaction. That means you'll have to adjust your preferred payment method to avoid getting stung by such a charge. Your credit card company should inform you of any convenience or payment fees that will be required before you actually complete the payment. If they don't, then make sure you ask.
While we often refer to these fees as hidden, that's only because these fees may not be top of mind for the consumer when making a decision to consolidate credit card debt. You should know that the credit card companies are required to disclose fees to you before you avail yourself of their offers, so carefully consider the details and fine print before you act.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
One Simple Way of Consolidating Credit Card Debt
Debt is something that has to be managed, and can easily get out of control if you're not careful. Credit card debt in particular is among the most burdensome financial problems for consumers today, and consequently millions of credit card customers are looking for ways of consolidating credit card debt as a means to better manage their financial responsibilities. While it is important to get a good handle on your credit card accounts and ensure that you haven't extended yourself beyond your means, consolidating credit card debt itself can sometimes create even more financial hardship if you don't take great care in how you approach this significant financial issue.
One very common form for consolidating credit card debt is to transfer the balances of your higher rate cards to a credit card that has a lower annual interest rate. For instance, you may have two or three credit cards with balances of a few hundred (or few thousand) dollars each, and those cards may carry an annual interest rate of 17 percent, 18 percent, 20 percent, or even more. Obviously you should be able to save a significant amount of money each year in interest by moving those balances to a card that carries a lower interest rate. For example, you may be able to transfer the balances of those higher-rate cards to a different card that carries only a 13.5 percent interest rate. Even on a balance that is currently being charged only a few percentage points higher, such as 17 percent, you will save significant real dollars -- certainly enough to consider this as a method for consolidating credit card debt.
But hold on second. Before you immediately transfer that balance, there are a number of pitfalls that you may overlook when consolidating credit card debt in this fashion, and it is important to consider them before you move your money:
The "teaser" rate:
Some credit cards offering lower interest rates may only be offering them as a "teaser" or introductory rate. That means the credit card's annual percentage rate may increase at some point in the future, when the teaser rate expires. You should check carefully to make sure that you understand exactly what the rate will be in the future as you pay down the balance you transferred from the original card.
The "empty card" syndrome:
If it turns out that consolidating credit card debt by moving the existing balances to a lower-rate card will work well for you, then you really need to make sure you have a plan to deal with the higher-rate card that will suddenly have a zero balance. Too often people can fall victim to the "empty card" syndrome and find themselves charging things again on that newly empty card, simply because it has no balance and it offers a convenient payment method. If you fall victim to this mentality, then you may find yourself right back where you started in no time. Instead, put that card away in a place where you're not likely to use it, unless faced with a serious emergency. Otherwise, your decision to attempt consolidating credit card debt and saving yourself some money in interest may come back to haunt you.
Consolidating credit card debt by moving balances to a lower-rate credit card is one possible way to save money on interest, but beware the dangerous pitfalls of teaser rates and empty card syndrome. Credit and debt have to be managed wisely, or you may find yourself in serious financial trouble.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
One very common form for consolidating credit card debt is to transfer the balances of your higher rate cards to a credit card that has a lower annual interest rate. For instance, you may have two or three credit cards with balances of a few hundred (or few thousand) dollars each, and those cards may carry an annual interest rate of 17 percent, 18 percent, 20 percent, or even more. Obviously you should be able to save a significant amount of money each year in interest by moving those balances to a card that carries a lower interest rate. For example, you may be able to transfer the balances of those higher-rate cards to a different card that carries only a 13.5 percent interest rate. Even on a balance that is currently being charged only a few percentage points higher, such as 17 percent, you will save significant real dollars -- certainly enough to consider this as a method for consolidating credit card debt.
But hold on second. Before you immediately transfer that balance, there are a number of pitfalls that you may overlook when consolidating credit card debt in this fashion, and it is important to consider them before you move your money:
The "teaser" rate:
Some credit cards offering lower interest rates may only be offering them as a "teaser" or introductory rate. That means the credit card's annual percentage rate may increase at some point in the future, when the teaser rate expires. You should check carefully to make sure that you understand exactly what the rate will be in the future as you pay down the balance you transferred from the original card.
The "empty card" syndrome:
If it turns out that consolidating credit card debt by moving the existing balances to a lower-rate card will work well for you, then you really need to make sure you have a plan to deal with the higher-rate card that will suddenly have a zero balance. Too often people can fall victim to the "empty card" syndrome and find themselves charging things again on that newly empty card, simply because it has no balance and it offers a convenient payment method. If you fall victim to this mentality, then you may find yourself right back where you started in no time. Instead, put that card away in a place where you're not likely to use it, unless faced with a serious emergency. Otherwise, your decision to attempt consolidating credit card debt and saving yourself some money in interest may come back to haunt you.
Consolidating credit card debt by moving balances to a lower-rate credit card is one possible way to save money on interest, but beware the dangerous pitfalls of teaser rates and empty card syndrome. Credit and debt have to be managed wisely, or you may find yourself in serious financial trouble.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
Tuesday, June 7, 2011
Important Tips For Loan Modification
1. Keep in touch with your lender. Constant communication is vital. They need to know you are really trying to work with them. It is easier to justify leniency for someone they are familiar with, than a complete stranger they have never spoken to before. Not calling at all is the worst thing you could do. They will assume that you are just refusing to pay, trying to get a few months free ride before you are foreclosed on. It is always better to cultivate a friendly relationship with your creditors, preferably before you get into trouble, but it is rarely “too late” to try at all.
2. If you need more time, just ASK FOR IT. Some lenders will defer your payment to the end of the loan once a year for financial hardship. Ask for up to 3 months to get back on your feet. This could give you time to gather your next payments. Of course, then you will have to actually try to get back on your feet, but recently this has been a very difficult task for many people. You are not alone in this.
3. You do need a financial hardship to get loan modification. You may need to supply a hardship letter and proof of income sufficient to make the new payment you are asking for. They don't want to go through the pain of loan mod paperwork only to have you default again. This will reassure them.
4. On your loan modification expense sheets be sure to disclose everything. The bank will verify this information from a credit report and your bank statements. Be sure you calculated your income correctly, and show them how you came to that number. Remove luxury and frivolous items from your family budget for a better review of your bank statements. This will increase their trust in you and increase your chance of successfully completing the process.
5. Be wary of trial loan modifications. Most are not being made permanent. The lenders were forced by the banks to do these trials while the regular paperwork is underway. The trials were supposed to then be made permanent. Instead, most lenders are simply ignoring that part and moving directly to asking you to short sale your home. While you may need to partake in order to keep your home just a few more months, try to avoid this path unless you are willing to understand that it probably won't be permanent.
For more free information about Loan Modifications, Refinancing and Credit Repair, go here now.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
2. If you need more time, just ASK FOR IT. Some lenders will defer your payment to the end of the loan once a year for financial hardship. Ask for up to 3 months to get back on your feet. This could give you time to gather your next payments. Of course, then you will have to actually try to get back on your feet, but recently this has been a very difficult task for many people. You are not alone in this.
3. You do need a financial hardship to get loan modification. You may need to supply a hardship letter and proof of income sufficient to make the new payment you are asking for. They don't want to go through the pain of loan mod paperwork only to have you default again. This will reassure them.
4. On your loan modification expense sheets be sure to disclose everything. The bank will verify this information from a credit report and your bank statements. Be sure you calculated your income correctly, and show them how you came to that number. Remove luxury and frivolous items from your family budget for a better review of your bank statements. This will increase their trust in you and increase your chance of successfully completing the process.
5. Be wary of trial loan modifications. Most are not being made permanent. The lenders were forced by the banks to do these trials while the regular paperwork is underway. The trials were supposed to then be made permanent. Instead, most lenders are simply ignoring that part and moving directly to asking you to short sale your home. While you may need to partake in order to keep your home just a few more months, try to avoid this path unless you are willing to understand that it probably won't be permanent.
For more free information about Loan Modifications, Refinancing and Credit Repair, go here now.
We are dedicated to helping CREDIT CONSUMERS discover the financial solutions they deserve. To ensure a brighter and better future!
We can help, we are the final piece to the puzzle to your financial freedom. We are an association that offers benefits and services designed to assist homeowners / consumers that are working their way through a financial difficulty. Because financial hardships come in many forms, we offer services for debt settlement, loan modifications and credit repair.
TO FIND OUT MORE ABOUT... LOAN MODIFICATIONS, REFINANCING, BENEFITS OF DEBT SETTLEMENT, BROKER YOUR HOME, FINANCIAL HELP & MORE!
www.LTDebtRelief.com
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