Debt Consolidation Advices

>> Tuesday, October 21, 2008


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If one's debt is not taken cared of and allowed to accumulate without control it could bury you alive with no ope of getting out of it with a clean name. It is good to take care of our debts so that we have control over them and not the other way around. In the USA, the average family is in debt to over $9,000 in unsecured debt that are made through credit cards, medical bills, payday loans, and other things. It is important to have some debt consolidation so that we can have good control over our mounting debts. Debt consolidation is the process of consolidating or putting together all of ones credit card payments, medical bills, and payday loans or personal loans into one low monthly payment. Because this is a negotiation process with the creditors, usually no new loans are needed. It is important to clear your debt without the necesary headache that comes along with it. Finding a non profit debt consolidation is very much of help to people who are carrying the weight of their debts.

There are many ways to consolidate your debts can consolidate your debts, one of those is the home equity loan where in you can use your home as collateral to get a loan. The interest rate of home equity loan is low because it is a secured loan. Secure loan is better than unsecured loan because a loan without security or collateral has higher rates. Credit card transfers are also an option but you must repay your outstanding debt within the time frame of the low introductory rate. Retirement funds and life insurance are also available and must be looked into. There are credit unions that you can approach that offer loans usually at lower interest rates and fees. If you are not yet a member, find out if you are eligible to join one.

The best way to handle one's debt is through consolidation so start consolidating your debt now.

6 comments:

Rocio October 21, 2008 at 6:40 PM  

Payday Loan should be an option for everyone when things go bad and we need quick cash. There fast, easy and the best part is that everything is confidential.

iceah October 21, 2008 at 8:46 PM  

@rocio
that's right c:
thanx for dropping by c: and for reading c:

David October 22, 2008 at 12:32 AM  
This comment has been removed by a blog administrator.
iceah October 23, 2008 at 5:35 PM  

@david
thanx for dropping by c: thanx also for reading my posts c:

Tiffiney October 25, 2008 at 7:34 PM  

good post!! so glad the only debt I have now is my car...I had tons of debt and finally got all of it paid off...good advice!! :)

iceah October 26, 2008 at 2:34 AM  

@tiff
thanx we'll be starting one this is to start with our own home c: a house of our own c:
thank u Lord in advance c:

isah liit

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