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
Subscribe to:
Posts (Atom)